I am cautiously optimistic, and feel that 2011 is still going to be rough sledding for many sectors of the commercial/investment real estate market. Still, there are opportunities out there for both buyers and sellers, as long as both parties are realistic.
As I have written before, multi-unit housing has generally stayed strong. Some markets this has not been the case, but in most areas and for a myriad of reasons multifamily has been stable or better economically. And now, more institutional validation of the same.
Multifamily Biz magazine says the recovery has started, referencing a study by NAI Global. I believe the market has stabilized somewhat but, as I have stated repeatedly, we are not out of the woods yet. There are NUMEROUS hurdles yet, and PCRE colleague Greg Will -- at an economics luncheon yesterday -- reported back that that same pessimism remains among knowledgable practioners. Repeating: there are many, many opportunities out there. But, we've got some bumps, curves and obstacles to get past before things are rosy, pretty, and tied up in pink ribbons (with pink ponies and unicorns prancing in the background).
No fairy tale, the commercial/investment real estate market is a rollercoaster right now -- an E-ticket ride you might say.
Still, please take a moment to read the article from Multifamily Biz. Worth the effort.