CB Richard Ellis Group Inc., reported a first-quarter loss Wednesday but said the business of selling and leasing buildings was picking up. The Los Angeles-based company said it had a net loss of $6.6 million, or 2 cents a share, compared with a loss of $36.7 million, or 14 cents, in the same period a year ago. With posted adjusted earnings of 1 cent a share after deducting one-time charges mostly related to cost-cutting measures and write-downs of impaired assets, the brokerage met Wall Street analysts’ predictions. Chief Executive Brett White said market conditions were getting better, especially in Asia. Read more…
Press Release
The Commercial Association of REALTORS® – New Mexico is a professional trade association with over 400 members who are dedicated to serving commercial real estate consumers with all best practices. Our industry is ever-evolving with new technologies, new valuation and financing methods, new regulations, legislative and judicial decisions that affect our practice including documentary processes, changes in our Code of Ethics and changes in the economy to mention a few. By keeping our members abreast of these elements, it is our hope ultimately that our members do a better job of serving the commercial real estate consumer.
Many of our members and some consumers have inquired recently about the allegations involving Douglas Vaughan. We want all to know that we are monitoring the situation and at the appropriate time will provide an appropriate response. In the meantime, we regret the harm that has been done to the many investors involved in these allegations. Many have been hurt by this situation, including many REALTORS®. It is our hope that this situation is resolved quickly and the public will find it possible to continue trusting our many commercial REALTOR® members who strive each day to meet their needs in a professional manner.
TARP Winding Down
Treasury Secretary, Timothy Geithner reports that the latest estimate conservatively puts the cost of TARP at $117 billion, and if Congress adopts the Financial Crisis Responsibility Fee that the president proposed in January, the cost to American taxpayers will be zero. Read more…
Where Have All the Optimists Gone?
Steve Brown, Dallas Morning News columnist doesn’t think this downturn is as bad as the 80’s. He acknowledges that it’s bad, but says there hasn’t been as much overbuilding in his region, and he compares the 22.5 percent office building vacancy rate of last year with 1987 when vacancy rates hit 34 percent.
