From Realtor Magazine Online, Daily Real Estate News April 21, 2009
Senior real estate executives believe market conditions are getting better, despite constricted credit conditions in the commercial market, according to the Real Estate Roundtable Sentiment Survey for the second quarter.
Nearly 60 percent of the 120 survey respondents say that they expect conditions in the real estate market will get better within a year. This view is reflected by a slight uptick in the Overall Q2 2009 Sentiment Index, which is at 41, up from last quarter's score of 38 and its low point of 33 six months ago.
Most executives are troubled by the lack of access to capital. Eighty-eight percent of respondents think it’s harder to get a loan compared to a year ago, yet 69 percent of respondents believe the situation will turn around in the next year. Likewise, 86 percent of respondents think equity financing has deteriorated from a year ago, yet 68 percent of respondents predict it will improve in the next year.
One survey respondent observed, "There is access to both equity and debt, but they're expensive. Banks are being very selective and are trying to pick survivors."
Roundtable members' portfolios contain over 5 billion square feet of office, retail and industrial properties; over 1.5 million apartment units; and in excess of 1.3 million hotel rooms.
Participating trade associations represent more than 1.5 million people involved in virtually every aspect of the real estate business.
Source: Real Estate Roundtable (04/20/2009)
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