Greater Des Moines real estate professionals jumped at the chance to express their opinion about the Iowa economy in interviews and an online poll conducted by the Business Record.
The forecasts can be summarized this way: Mostly sunny.
Here are some responses. Read more in Friday's edition of the Business Record.
President, Diagonal Properties Inc.
“With debt out of control, and interest rates remaining low, unemployment will spike when the euro crashes, which I think will be in 2012.”
Sales Associate , CBRE/Hubbell Commercial
“The corporate real estate industry has picked up the pace. We are seeing more showings, and tenants willing to sign longer term leases again.”
Real estate agent, Iowa Realty Inc.
“Confidence that the economy is on the mend is key to my industry’s continued recovery.“
President, The Bettendorf Co.
“Unemployment will improve nationwide as the industrial sector strengthens. They will need additional employees to produce more goods.”
Senior vice president, NAI Ruhl & Ruhl Commercial Co.
“Banks and other lending institutions will be forced to accept the reality that it will be a long time before commercial real estate values will rebound to the levels that supported loans currently on their books that are non-performing and therefore they will sell the collateral at true market value. Although this will be painful and is likely to cause further depression in market values, it is a necessary step towards beginning a rebound in those same market values. As a result, investors with cash will see many attractive opportunities come to market; however caution and due diligence will be necessary because the oversupply of office and poorly designed/located retail space is not going to be absorbed quickly.”
President, Darr Land Development LLC and Real estate agent, Peoples Co.
“I continue to see great opportunities for buyers, and sellers are getting offers.”
Owner, HOME CHECK
Remain about the same
“The home mortgage mess affects all homeowners. Why not get the excess foreclosed supply into landlord /investors’ hands ASAP for re-habbing? It is not valid thinking that big banks here and in Europe are too big to fail. With time - we will adapt and be better. Congress and all those in D.C. will do nothing helpful through the next 24 months. Economics is now politics inclusive in content.”