Buying Opportunities Could Arise Amid Turmoil
Monday, October 13, 2008
Source: GlobeSt
GlobeSt reports: The pace of sales will continue to remain low until that spread narrows. And with fundamentals in most apartment markets doing relatively well, sellers are under little pressure to put their properties on the block or decrease their asking prices.
But that doesn’t mean there aren’t buying opportunities around the bend; according to Real Capital Analytics, the number of distressed sellers in the market has ticked up, and that figure should only grow as the market continues to correct itself.
"The one thing about the credit crunch is that it’s been awfully democratic," says Dan Fasulo. "It’s impacted every market and investment player. We’re an industry that relies on the debt markets in our everyday course of business. When the debt markets shut down, there’s no question we’re going to feel some pretty significant impacts."
View the full article on GlobeSt: Buying Opportunities Could Arise Amid Turmoil
Posted by: Matt Stone