National Survey of Real Estate Professionals Reveals Stagnating Market

NEW YORK, June 17 /PRNewswire/ -- Real estate professionals polled from around the country have expressed concern that property in the United States is overvalued.

According to the fifth annual Bryan Cave Real Estate Executives' Forecast Survey, 59 percent of the executives polled believe commercial properties are overvalued and only 4 percent consider commercial properties to be undervalued.

"The results of Bryan Cave's survey are further evidence some owners are focused on peak values of a year ago," said Jon Caplan, executive vice president of Cushman & Wakefield, a national real estate firm. "Overall, the market is awaiting more information regarding valuation. There are few recent data points. Debt is scarce, and it is not clear what the game rules will be for lending going forward. We are in a transition and transaction volume will pick up as we get more clarity."

Barry Ross, a partner at Bryan Cave, seconded Caplan's view and added that "91 percent of the executives polled by our survey believe the credit crunch will continue to reduce capital for commercial real estate financings for at least seven more months. The expectation among executives can only add to the market's woes and slow activity in the short term." To read more click here.

Posted : Tue, 17 Jun 2008 15:39:23 GMT
Author : Bryan Cave LLP