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Posted: February 22, 2010
Decade Answers: Richard DiGeronimo
Richard DiGeronimo, MAI, SRPA, CRA is the president/founder of R. D. GERONIMO LTD., Mineola, N.Y.
What are your predictions for commercial real estate in the new decade?
My forecast for commercial real estate for the new decade is that a de-leveraging process and a favorable employment forecast will need to occur before values stabilize. As such, I do not foresee a recovery period until 2011/12. Buyers will be selective in their purchase options, commanding higher yields based on actual earnings vs. future revenue forecasts. Sellers will continue to hold their assets unless forced to sell due to over-leveraging. Lenders will be more selective with lower loan-to-value ratios and increased debt coverage requirements. Equity is the key!
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