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apartment broker riverside: Increase in Water Costs are Causing Apartment Investors in Southern California to Be Water Prudent
- 08/28/09 01:41 PM
Over the last few months apartment owners and home owners are seeing dramatic increase in their water bills. Water districts have sent out forewarnings, but reality is never good for the bottom line. From San Diego to Orange County and on to Los Angeles, and even east to the Inland Empire (Riverside and San Bernardino) property owners are being advised to conserve.
Most commercial property owners are required to water their landscaping during off-peak hours and days, so water usage doesn’t spike during any one day. The heat is on, as least these last few weeks. What does this mean? … (0 comments)
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apartment broker riverside: Longer Escrows are the New Norm for Apartment Transactions
- 08/26/09 05:07 AM
Want to close your next apartment transaction in 30 days? It's not going to happen.
Sellers and seller's brokers are realizing that the time frame for closing apartment transactions is taking much longer. In the last two years I have seen a constant stream of delays by lenders, which have resulted in escrow extensions or cancelled contracts.
What used to take 45 days to close a commercial transaction is now taking 60-90 days. Most Fannie and Freddie lenders will tell you upfront, expect 90 days. Commercial lenders are saying 60 days.
In harder hit apartment markets such as Inland Empire … (0 comments)
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