This is the question John G. Ellis, MAI addressed at the IRWA Chapter 1 Fall Seminar last Tuesday. Mr. Ellis divided his presentation into four distinct questions:
- What is the current state of the market;
- How did we get to where we are now;
- What are the trends looking forward; and
- Have we hit bottom yet?
The picture painted by Mr. Ellis [PDF] was befitting of the Halloween season, and in some cases was downright depressing. Most submarkets are demonstrating reduced sales volumes, lower rents, higher cap rates, and lower sale prices. Mr. Ellis demonstrated how a 1.25% increase in the ...
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