According to the recent statistics regarding the sales of local commercial properties, it has been found that commercial real estate prices are well below the assessed values of the properties. This has been the case in most of the sales and industry observers reason this to be a reflection of the US economy. They also believe that the prices depend on the building location and the building type that is involved in the purchase (think Las Vegas investment property retail locations near the Strip being worth more than at the edge of town). However, the observers have noted that the property prices in the recent sales do not reveal much about the building. Thus it is evident that the sales of any commercial property is the discounting effect of the market and also the economy. Read more…
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