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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsLoaded With Cash, Real Estate Buyers Wait for Sellers to Crack
The worlds biggest real estate investors are sitting on piles of cash, preparing for once-in-a-lifetime opportunities created by the pandemic.
With economies around the world sputtering, commercial real estate prices are expected to come down. How much theyll fall is the key question.
Sellers are currently willing to concede discounts of around 5%, while bidders are hoping for about 20% off pre-pandemic prices, said Charles Hewlett, the managing director at Rclco Real Estate Advisors. That estimated gap, which is likely wider in specific cases, has put a freeze on deals.
The mantra for anything that hasnt gotten started is: delay, defer and, in many cases, renegotiate, Hewlett said. If Im going to have vintage May 2020 on my books, I want to be able to demonstrate to my investors that I got an exceptionally good deal.
https://www.msn.com/en-us/money/markets/loaded-with-cash-real-estate-buyers-wait-for-sellers-to-crack/ar-BB14iyIH?li=BBnbfcN
Oh great. More "I'll buy your house for cash" solicitations.
virgogal
(10,178 posts)Lancero
(3,003 posts)Brainfodder
(6,423 posts)Call 1-800-LOWBALLING-GREEDY-ASSHOLES today!
virgogal
(10,178 posts)Brainfodder
(6,423 posts)virgogal
(10,178 posts)responding to the article that was posted.