Ok, first of all let me apologize for not blogging to my site for the past year.  Let’s just say i got very turned off by the unending spam.  I could have probably opened up a national drug store with the number of offers for illegal and illicit drugs.

Ok.  Let’s talk real estate, more specifically commercial investment real estate.  The general pulse of our business on a national level has been a very slow 2009 season.  Let me qualify this by saying that I believe the North Florida market, specifically Jacksonville, FL’s market, is generally a few months ahead of the curve relative to the rest of Florida.  While we had a slow down beginning in 2008, we have certainly seen a pickup in equity resurfacing in late 2009.

While NPLP (non-performing loan pools) have been the preferred lender transaction vehicles, I still expect to see portfolios of fee simple transactions occur below the radar.  No lender likes to have public press of having made a bad loan so expect to hear about transactions after the fact and not before….

The crux of this blog – tremendous pipeline of distressed assets that havent even begun to hit the lenders’ books.  Combine that with unemployment rising ( yes i say rising, dont believe everything that you read as much of it is also measured by who is doing the measuring and how they measure ).  Case in point, Florida’s unemployment is over 11% with Orlando, Tampa and Jacksonville hovering around 12%….

You heard it here, maybe not first, but definitely vocally – expect more failed assets to hit the market AND expect unemployment to hit mid 12% if not even 13%.  Expect the market to head south again…

Signing out -

David Hsieh, Jacksonville, FL  March 17, 2010…..

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