Posted by: Aaron West-Guillen
Land Specialist / Land Entitilement Consultant
775 336 4674
Aaron West-Guillen has 15 years of land acquisition, entitlement and development experience in northern Nevada.
“New and improved underwriting criteria on the part of lenders is not only eliminating access to financing for new projects but limiting the ability to refinance existing loans coming due — that is, without a substantial capital infusion. All of this fear is driving investor’s expectations on return into double-digit cap rates with a devastating effect on property values. As one can imagine, the resulting effect of building value declines is further magnified for vacant land. The term “land is worth less than zero” has become something of a mantra for those investors snooping around the market. However, those investors are snooping around the market.”
Read the entire article at: http://www.nnbw.biz/ArticleRead.aspx?storyID=13269