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Latitude, Inc. May News - Current Course
The news continues to brighten and there may be light at the
end of tunnel! GDP growth is positive, corporate
earnings are up, Wall Street seems to like what it sees, the employment picture
is improving and the U.S. consumer seems to have come out of hibernation. All positive news, but much caution is still
in the air and the wreckage of the housing bubble will take years to clean
up. The credit market for commercial
real estate (really all credit) is still very restricted, and of course,
commercial values (along with residential) have dropped dramatically (as much
as 30-50%) from the 2005-2006 highs.
With all of the attendant risk, a window of opportunity exists for quality
investments and strategically deployed cash will likely prove to be a wise
investment over the coming years.
-Rick Longpre
Follow Rick on his blog ... and link up with him on LinkedIn!
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Commercial Market Is Looking Up
USA Today, Paul Davidson (4/20/10)
Despite the rising number of defaults, the commercial
real estate market is improving.
Prices are up. Commercial real
estate values have risen 6 percent in recent months, according to Real
Capital Analytics.
Nearly $14 billion in loans were modified in
the last six months.
Investors also have been aggressively buying
commercial mortgage-backed securities (CMBS). Research firm Trepp
predicts that $25 billion in CMBS will be issued in 2010.
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 Fed: Low Rates Likely Through 2010
- CRE NEWS
Interest rates are likely to
remain low into 2011, Federal Reserve policymakers hinted this week in
at least two presentations. These indications came one week after the
Fed shut down its program to buy mortgage-backed securities, which had
kept rates at or near record lows in recent months.
In a speech
Thursday, Fed Governor Daniel Tarullo said, "The relatively modest pace
of recovery, the continued high rate of unemployment, subdued inflation
trends, and well-anchored inflation expectations together suggest that
the need for highly accommodative monetary policies will not diminish
soon."
Read more...
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Real Estate Bust Hurts Lending for Little Guys
-By Emily Maltby, WSJ
Since the mortgage meltdown, business owners can no longer reliably
count on homes or commercial properties to secure financing.
Even as some segments of the economy bounce back, the lagging pace of
improvement in the real-estate market continues to hamper owners'
efforts at landing credit. "As the big guys are doing better, people
ask, why not the smaller firms? Well, this is a huge part of the
reason," says William Dennis, Jr., a senior research fellow at the
National Federation of Independent Business in Washington. Read more..
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 Latitude, Inc. Current Featured Opportunities
Latitude is pleased to highlight some beautiful listings!
325 Chapala Street - Downtown office for SUBLEASE more info335 N. Milpas - Retail/Office/Industrial for SUBLEASE more info4785 El Carro Lane - 4BR/2BA Single family home for SALE SOLD
38 S. La Cumbre - Dental/ Med/ Prof Office for LEASE more info
597 Avenue of the Flags - Retail/Office in Buellton - more info
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 Foreclosure Sales Nearly Double From Prior Year
-Source: wwwforeclosureradar.com
Foreclosure sales increased 92.3 percent from the prior year, when most major lenders had voluntary moratoriums in place while awaiting the implementation of the Administration's Home Affordable Modification Program (HAMP). Foreclosure sales increased 24.2 percent from February, with 79.2 percent of those going Back to Bank and the remainder Sold to 3rd Parties, primarily investors.
Download March 2010 Foreclosure Radar report here
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 More News!
Home
Prices Are On the Move
smartmoney.com READ ARTICLE
California Introduces
New Purchase Contract READ ARTICLE
Economic Commentary: Two Fronts - Jobs and Confidence
by Lawrence Yun, NAR Chief Economist READ ARTICLE
Go to www.latitude.net for more news every day!
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 Just Sold
We
are pleased to announce the SALE of a 4 bedroom, 2 bath single family residence located at 4785 El Carro Lane in Carpinteria, CA. Latitude, Inc.
represented the Seller in the transaction.
4785 El Carro Lane, Carpinteria, CA
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Latitude, Inc. is a full service commercial real estate company, headquartered in Santa Barbara, on California's Central Coast. While its brokerage and development services are focused on California's Central Coast, Latitude's management and investment expertise have expanded its geographical reach with experience throughout the Western United States.
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