Countrywide down for the count and CitiBank to follow?
January 16th, 2008 by Tish Johnson
Connect with over 200 offices on the planet for commercial/industrial real estate
Seattle Network - Commercial Real Estate
Click stars to vote (left is low, right is high)
(No Ratings Yet)
Loading ...
What a greedy mess. San Diego real estate values have dropped 13% and predicted to go further down. SAN DIEGO - who would have thought? It is hard for us in Seattle to realize the impact this has on other parts of the US. I just talked to my daughter in Santa Monica and between the writer’s strike and real estate, she is even seeing an impact on attendance at YOGA class. Citibank is still in line to pay all of the top executives BONUS for 2007. Guess who really is going to pay for that?
My friend and financial advisor CJ Lee in her commentary to investors says the volatility in the stock market is good and long term investors need to stay the course. According to her, when all is calm is when the average citizen thinks they can predict the market and make a killing - and as we have learned, just the opposite occurs.
Tay Yoshitani, the Port of Seattle director spoke at our CEO-to-CEO breakfast last week and it was good to be able to hear his explanation of the Port situation and to come away feeling like with his leadership and integrity, our Port is in good hands. He mentions future lost revenue due to expanded Panama Canal capacity, but with careful management and an eye to being the “Greenest” Port, we can maintain our niche and prosper. Proper control of the Port’s Real Estate and the exciting new industrial/manufacturing acres that will now come to market near Sea-Tac airport will be a challenge to both Tay and his Commissioners. The Port is still looking for someone to head this exciting venture.
Driving through Tacoma, South on I-5, past Olympia and on to Grays Harbor it is hard to see where we are in any kind of decline. Construction near Dupont, new lanes and overpasses through Tacoma and lots of growth clear through Mud Bay. From the cutoff to Shelton to Aberdeen you can see new businesses sprouting up along the interstate.
Back to this mess created by sub-prime lending - what to do? Proceed with caution in this buyers’ market as some analysts predict this will go on to 2009. We should start having more visitors through the Northwest as the 2010 Olympics get under way and when they see how little we have been affected and how fabulous a place we have here - get ready for some of that migration to start pushing our prices back up again.
Share This Post - instructions included
The Author: Tish Johnson
About: Tish Johnson is a Seattle native; through her real estate printing and marketing company, she identifies properties and markets them through networking and print marketing to secures buyers. She is also active in markets in Dallas Texas, San Diego, CA, Grays Harbor County, WA. Specializing in out of state buyers looking to gain a presence in the Seattle and Northwest Markets, she also works with developers to build green housing/developments for use in independent living facilities.
This entry was posted by Tish Johnson, on Wednesday, January 16th, 2008 at 5:11 am and is filed under Featured, Real Estate-Comm.. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response below.
Leave a Reply
Join the Discussion in Our Seattle Network Networking Forums
Discussion Forum
| Topic | Posts | Last Poster |
|---|---|---|
| Suggestions for conducting business without a fulltime office | 3 | obiddle |
| If you fill out a profile here, name it what you do in Seattle.. | 1 | IsraelRothman |
| Welcome to Seattlenetwork.net | 3 | IsraelRothman |
| I do not need an office to do business, do you? | 1 | IsraelRothman |
| Your first topic | 1 | Tish Johnson |
