Friday, April 13, 2012 / by Alicia Angstadt
Commercial Real Estate continues to go in the direction of potential short sales and some in pre-foreclosure. Balloons are coming due and some banks are not open to refinancing these properties. The performance of the building, in terms of tenant income, is fine. The current appraisals and the amount owned on the property is significantly different, and the owners do not have the liquid capital to offset the difference in order for the bank to refinance the property. Thus, causing some upset in the commercial market in our area.
If you can qualify to purchase investment properties in today's market, there definitely are very good buys out there, commercial and residential. My suggestion is to contact a knowledgeable real estate agent in your area today!