Inland Informer

Follow Commercial 1031 Group on Twitter

2009-09-05T14:34:54Z

Follow Commercial 1031 Group on Twitter for the latest commercial real estate news and links of interest. Here is a sample of our latest posts:

“Congratulations to Star West Satellite on your light industrial land purchase at EXPO in Post Falls – www.expopostfalls.com” Today
“WinCo buys Cd’A parcel for new store – Spokane Journal of Business (subscription required) http://bit.ly/Um82Z” Yesterday
“Commercial Investment Real Estate | 5 Tax Tips for Developers and Investors http://bit.ly/10knw3” 3:15 PM Sep 2nd
“The Top Ten Reasons Why Now is a Great Time to Buy an Apartment Building http://bit.ly/tRtXA” 3:14 PM Sep 1st
“RT @cbcsr: Coldwell Banker Commercial Schneidmiller Realty recent lease transactions http://bit.ly/hbZb3” 6:30 PM Aug 21st
“RT @dpicken: WA Trust’s Steve Scranton: Moodys.com says WA, OR, ID will lead during the econ. recovery.” 4:22 PM Aug 20th
“Register now for the 2009 Northwest CCIM Networking & Deal Making Event in Coeur d’Alene Sep. 15-16th http://bit.ly/Gy0P0” 4:49 PM Aug 19th

In the News – Post Falls Factory Stores Revitalization

2009-07-01T15:51:42Z

The video below is a story that ran on KHQ News last night. For more information on the outlet stores please visit Post Falls Factory Stores

In the News – Outlet Mall Makeover & EXPO Information

2009-06-29T15:59:59Z

The article embedded below was featured in the Sunday, June 28th, 2009 Spokesman Review. For more information on the Factory Outlet Stores please visit: Post Falls Factory Outlet For Lease and for more information regarding EXPO at Post Falls please visit: www.expopostfalls.com

Jobs Plus Video

2009-05-14T13:23:46Z

Take a look at this video produced by Jobs Plus. It provides information on Coeur d’Alene, Post Falls and the Kootenai County area.

Sportsmans Warehouse Plans to Sell CDA Store

2009-05-12T17:42:16Z

From the Idaho Business Review:

Sportsmans Warehouse Holdings CEO Stuart Utgaard on March 10 announced that the Midvale, Utah-based outdoor retailer plans to liquidate 23 stores to reduce bank debt – including three stores in Idaho– and sell 15 stores to UFA Co-op.

The Nampa store, which opened in 2007, along with stores in Coeur d’Alene and Pocatello are expected to be closed within the next couple of months. Of the 23 stores nationwide to close, a majority is located in the East.

The Meridian and Idaho Falls stores are expected to remain open.

Sportsmans Warehouse to close 3 Idaho stores

3/13/09 Update:
According to the Sporstman’s Warehouse website, the Coeur d’Alene store and Spokane store are on the list of locations being sold to UFA Co-op.

15 stores are being sold to UFA Co-op.

Bend, OR
Bozeman, MT
Burlington, WA
Coeur d’Alene, ID
Fargo, ND
Federal Way, WA
Helena, MT
Kennewick, WA
Lacey, WA
Missoula, MT
Portland, OR
Salem, OR
Silverdale, WA
Spokane, WA
Vancouver, WA

Read more about UFA Co-Op at http://www.ufa.com/aboutUFA/aboutUFA.html

Expect Distressed Property Funds in Late 2009

2009-02-26T01:28:03Z

We have seen numerous vulture/opportunity funds formed over the last year. So far these funds have largely remained on the sidelines waiting for truly distressed opportunities. According to a new report, you can expect these funds to begin buying properties in bulk during the second half of 2009.

Opportunity Funds Won’t Strike Until Second Half of 2009

Kootenai County Retail Market Information

2009-02-18T03:20:45Z

Dani Bielec-Kramer from our team presented at the 2009 Spokane/Kootenai County Real Estate Market Forum. This year the event was hosted at the Coeur d’Alene Resort. Dani focused on the retail market in Kootenai County. You can view the information she presented below.

Dowload Kootenai County Retail Market Forum Slides

Fannie Mae Loosens Credit for Home Investors

2009-02-17T05:53:19Z

Last week Fannie Mae announced it would reverse their policy limiting investors to four properties. The change will go in effect on March 1, 2009. Last year Fannie Mae introduced the restriction while under close scrutiny from the government for their lending practices.

Fannie Mae is now changing their policy to allow investor and second home borrowers to own up to ten financed properties provided they meet certain eligibility and underwriting requirements as outlined in the following release:

Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors. Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity, and affordability to the nation’s housing system. To support prudent lending for housing investment, Fannie Mae is changing our current limit of four financed properties per borrower to allow five to ten financed properties per borrower, with certain eligibility, underwriting, and delivery requirements, including a 720 minimum credit score and 70–75% maximum LTV/CLTV/HCLTV (depending on the transaction and property type). The requirements apply to any loan being delivered to Fannie Mae, regardless of whether Fannie Mae is the investor on the borrower’s other mortgages.

https://www.efanniemae.com/lc/newsletters/sfnews/0209mortgages.jsp

Kootenai County Economic Stimulus Proposed Projects List

2009-01-15T20:39:01Z

The Kootenai Metropolitan Planning Organization blog has recently posted a list of transportation/infrastructure projects that could be ready within 180 days should president-elect Barack Obama’s economic stimulus package pass. Currently this is only a draft list of possible projects.

KMPO has been working with Kootenai County agencies involved in transportation on a list of projects to submit for possible stimulus funding. At this time, we don’t have specific numbers on how much money would come into the area through this package if passed, nor do we know the federal requirements, or the timeline involved. If the stimulus package is passed, we cannot guarantee that the proposed projects will be constructed. The only thing we do know for sure is that this is a draft list and the projects included need to be considered ‘shovel ready,’ meaning they can be ready for construction within 90 to 180 days.

The proposed project list consists of roadway projects only at this time. KMPO’s Public Transportation Roundtable committee has been asked to submit transit projects as well, which will be added to the list.

Kootenai County Economic Stimulus Proposed Projects List

Standard & Poor’s View of CMBS

2009-01-15T20:27:10Z

Excerpt from recent S&P press release:

It’s become clear during the past few months–and especially in the past few weeks–that the problems facing the global financial markets and the U.S. economy have left the commercial mortgage-backed securities (CMBS) sector in a fundamentally weaker credit position. As a result, Standard & Poor’s Ratings Services is expecting an increase in the number and severity of CMBS downgrades in 2009 …

"Now that the U.S. is officially in a recession, and since commercial real estate performance typically tends to lag U.S. economic developments, we’re expecting property values to continue to drop and loans with marginal cash flow to default with increasing frequency," said credit analyst James Manzi. "We believe that borrowers with negative equity have little incentive to come ‘out of pocket’ to bring their payments current," he said.

Evidence of this malaise appears to be mounting: The delinquency rate has been increasing significantly, and Standard & Poor’s internal reporting measures show an acceleration in the volume of troubled loans, especially large loans. "Any current change in property prices is hard to measure accurately because of the marked reduction in transaction volume during 2008, but estimates we’ve seen indicate a decline of roughly 10%-15% from the peaks of early 2007. And the gap between offered prices and asking prices, in our view, signals that valuations must decline further to restart any meaningful trading activity," said credit analyst Barbara Duka.