At long last, many real estate attorneys are seeing transactions — not just workouts and defaults — increase, with property sales figures coming in much higher in the first quarter of 2010 than a year ago. Investors, impatiently waiting for the foreclosure fire sale that hasn’t materialized, are instead putting their trust back into solid properties.

First-quarter transaction volume and prices showed increases, according to a few market indicators, including January’s 1 percent increase in the Moody’s/REAL Commercial Property Price Index. Large-scale property sales in February rose 26 percent on a year-over-year basis, and March saw more than $3.4 billion in closed deals, far surpassing totals from first quarter 2009, according to a recent report by Real Capital Analytics. Another $11 billion of property is reported under contract, the report says.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]