As a professional commercial property scout, I am always reading articles about the current real estate market and sometimes it's hard to believe what I read.
Do you know what the write down of assets by financial companies have been? You might want to sit down for this because I had to re-read it several times. Bloomberg Financials reported that the write down of assets by Wall Street over the past year has been 380 billion.
So many people have had to look foreclosure in the face. Even, Ed McMahon, famous sidekick to Johnny Carson, is facing financial turmoil and may lose his house. For over 2 years, McMahon has had his Los Angeles mansion for sale but has been unsuccessful in finding a buyer.
Commercial real estate is not exempt from the casualties of foreclosure. Savvy investors are keeping an eye on the current market as the foreclosures numbers keep rising. A wise investor is ready to buy in this market and is always looking.
If you think you would enjoy looking for these properties visit NACREPS.org . They are looking for professional property scouts. See if it looks right for you.
Kim
turn.dirtintocash.com
Thursday, June 5, 2008
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