Colgate Real Estate Advisors LLC | BROKERAGE, DUE DILIGENCE AND DISTRESSED ASSET ADVISORY SERVICES
"Sensible Solutions
for Challenging Times"
Larry H. Haber
Attorney
Licensed Real Estate Broker
Certified Public Accountant
www.ColgateREA.com
In the News and Know
Knowledge is power, and in order to stay ahead of the perpetually changing economic landscape, CREA’s team works long hours to keep abreast of new developments in the real estate market. By doing so, we trust that our advisors can provide you with real-time information, thereby allowing you to make educated decisions concerning your real estate needs.
Whether overhead on the news, at a meeting, on a blog or at a real estate summit or networking event, below are just a few of the many rants, raves and sometime inspirational thoughts we have heard on the street in recent times (circa 1.1.09):
“Players in the real estate market need a reality check and accept the world as it is today”
“Real Estate Fundamentals must be corrected before there is light at the end of the tunnel”
“Keeping it lean until ‘13”
“Real Sellers need to get REAL”
“Being a real estate developer is like an oxymoron”
“Be Patient, Be Liquid & Be Cynical”
“The times ahead will include a gut wrenching process of economic distress”
“Due to the volatility of expenses, CASHFLOW & CAP RATES MATTER MOST”
“As to large transactions...BIG IS BAD”
“A Banker's Mindset...the hardest thing to target is value...all underwriting must focus on the downward trend & that underwriting must survive that trend”
“A Banker's Mantra as to underwriting...Capacity, Character & Collateral”
“A Banker’s Mindset as to stepping up it’s level of lending…We need major coverage from secure cash flow before we consider a deal”
“This level of volatility is unprecedented”
“The uncertainty of the real estate market makes it difficult at best to make even a good deal work”
“Price capitulation is good”
“It’s going to be a loooooooooooooong bottom…AND WE’RE NOT THERE YET!”
“Development Financing is shut down”
“The market for raw land has evaporated”
“There is a Severe Deterioration of Real Estate Fundamentals, AND IT WON’T GET BETTER UNTIL EVERYONE WORKS TOGETHER TO CORRECT THEM”
“On the residential side, among other increased costs, expenses continue to increase due to increased apartment sharing (e.g., more occupants results in more hot showers, wear + tear on building)”
“Pricing must reach a standard that sellers, buyers, landlords and tenants can appreciate”
Mailing Address: 6800 Jericho Turnpike,
Syosset, New York 11791 |
516.762.3117 | (fax) 516.921.3433 |
www.colgaterea.com .One Penn Plaza-Suite 3406,
New York, New York 10119 |
646-237-2563 | cell: 917.362.9413 | Email: larryhaber@colgaterea.com
