Multifamily property sales post gain

Multifamily property sales posted a 20% sales gain month over month since March despite an overall YTD commercial real estate investment drop of 70% in sales from last year.

Chattanooga, Georgia and Tennessee sales have been slower than the national reporting averages due in part to the previous recent growth in the past 3 years. The combination of growth and lack of investor capital has made the market very quiet.

Real estate investment properties producing income that is not related to retail or office are out performing other property types as the credit crunch continues to put a stranglehold on sales. Most of the largest banks are still on the sideline dodging the financial bullets being fired from almost every sector.

Multifamily properties are leading the way with self storage and industrial sales posting a small positive gain. Fannie Mae and Freddie Mac multifamily programs helped pave the way for investors.

Refinancing those multi family investment properties now while Fannie and Freddie are working hard to generate production is a wise move. Rates have been relatively stable with oil prices dropping but are expected to rise by years end.

Investors need their real estate agents now more than ever so it's just good business to make sure they have good information to help make decisions.

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