According to Real Estate News Utah in their article, “Industrial Market Still Struggling to Recover”, even with promise shown in the industrial market in the second quarter of 2009 (the square footage activity nearly doubled), the third and fourth quarters returned to the 2008 trend of a downward trend, largely because of limited funding.
The willingness of the FDIC to share losses on failed banks real estate loans could accelerate a drop in commercial property prices and bush even more banks into failure, a Business Journal investigation reports. The FDIC covers nearly all the risk of loan and foreclosure expenses for banks who acquire troubled assets from failed banks. Many of these acquiring banks would rather foreclose than restructure loans.
Indianapolis, Indiana based Broadbent Co.’s legal battles with lenders have escalated pushing one of its 34 strip malls into bankruptcy. These legal woes come at a time when the recession has sapped demand for shopping center space and reduced the value of the underlying real estate.
Recently, a congressional inquiry concluded that nearly 3,000 small U.S. banks could be forced to dramatically curtail their lending because of losses on commercial real-estate loans. These banks that are being threatened by loans they made for shopping centers, offices, hotels and apartments represent a major cog in the U.S. credit systems, especially to entrepreneurs.
In Georgia, the Board of Tax Assessor's Offices will be adjusting the 2010 tax value on several thousand properties as assessors review the real estate sales and foreclosure data. To preserve your rights to contest the market value of your property a Real Property Tax Return must be filed.