Thank you for the opportunity to share general information relating to the commercial real estate finance industry and letting you know what's new at Cornerstone Commercial Mortgage. We value your relationship and believe better communication is another way we can serve you.
We also would like to wish everyone a Merry Christmas and a Happy New Year. It has been a rough road in the financial markets this year, but as we near the end of 2008 lets take time to recognize the real blessings we do have and that's our families/friends and our faith, because when it's all said and done in the end that's really what matters.
Thank you for allowing us to communicate with you throughout the year and we hope we have given you something of value. We look to the future with optimism and know that as we all persevere we will prevail. |
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Are Cap Rates Going Up? YES
The Capitalization Rate or Cap Rate is a ratio used to estimate the value of income producing properties. Put simply, the cap rate is the net operating income divided by the sales price or value of a property expressed as a percentage. See attached article for further information on what Cap rates are and how they work. Cap Rate - Capitalization Rate
We are seeing cap rates across the board rise slightly due to downward pressure on rental rates and lower sales prices. As the level of perceived risk increases in commercial real estate, investors are expecting a higher return, therefore Cap rates have been inching up .50-.75% over the last quarter depending on location and product type. We don't perceive a huge increase in cap rates going into the next year, however, when evaluating a project's feasibility and anticipating value, especially from a lender's underwriting perspective, expect caution in using abnormally higher Cap rates then we have been using in the last couple of years. So take this into account on future deals going into the new year. For Southern California see what two appraisers are saying about Cap rates THE SKID CONTINUES by Richard West, MAI and Kevin Stephanoff
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Industrial Outlook
Despite the economic downturn, the future is strong for this sector. By David Twist
Faced with a significantly weaker economic outlook and the financial crisis fallout, the industrial sector is hunkering down. Decision making has slowed considerably as investors try to assess the impact of the macro economy during one of the most unpredictable and unsettling financial environments in modern history.
The general softening in the industrial market is reflected in the absorption figures for the national markets, which remain in the negative range, with the current vacancy rate standing at 10.7 percent as of 3Q08. And the outlook isn't any better for the near-term future: The national and global economies are expected to deteriorate significantly going into 2009.
However, industrial development-based companies that have focused on market fundamentals will be well positioned to accelerate out of the downturn with long-term earnings potential enhanced. Such fundamentals include focusing on critical locations in the global supply chain and predominantly infill submarket locations within those trade hubs.
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Top 10 Obscure Google Search Tricks
When it comes to the Google search box, you may already know the basics, but there are many more oblique, clever, and lesser-known search recipes and operators that work from that unassuming little input box. Dozens of Google search guides detail the tips you already know, but today we're skipping the obvious and highlighting our favorite obscure Google web search tricks starting from number 10 working to number 1
10. Get the local time anywhere
9. Track flight status
8. Convert currency, metrics, bytes, and more
7. Compare items "better than" find similar items with "reminds me of"
6. Use Google as a free proxy
5. Remove affiliate links from product searches
4. Find related terms and documents3. Find music and comic books
2. ID people, objects, and foreign language words and phrases with
Google Image Search
1. Make Google recognize faces
Click the link below to view the details of each short cut search trick and how you can use Google Search to save you time which means money.
Top 10 Unique Google Search Tricks Sure to Save you Time
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 Integrity is the Cornerstone of our business
Cornerstone Commercial Mortgage specializes in commercial real estate finance. We act as mortgage consultants, focusing on providing the appropriate financing solutions for each client.
Contact John Lloyd at 702-379-3468 or
619-293-3919 E-mail - John.lloyd@cmlv.net
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 Quality Customer Service is our Guarantee
Kevin Moore
Vice President
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San Diego Office:
2356 Moore Street, Suite 201
San Diego, CA 92110
Las Vegas Office:
375 E. Warm Springs Road, Suite 104
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| Click on above rates for more detailed infomamtion including charts and graphs
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"You cannot live a perfect day without doing something for someone who will never be able to repay you"
John Wooden
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