Brea, CA – Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $4 million sales transaction for a 45,560-square-foot industrial building located at 1425 Moonstone Street in Brea, Calif.

Luke Hudson and Scott Seal of Lee & Associates’ Orange office represented the buyer, Nail Harmony. Tom Dorman of CB Richard Ellis and Ian Britton and Colliers International represented the seller, Cohen Asset Management.

“The dynamics of this sale were incredible and it completely firms up the notion of a sound business, in a growing phase, capitalizing on the current economics,” said Hudson. “Our client was in a position to purchase two adjacent, above standard industrial buildings at pricing points of 2003. Although we’re experiencing a recent shake up in buyer’s confidence due to the market volatility, we are still finding motivated buyers and sellers in the market.”

About Lee & Associates

Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 43 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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Portland, OR – Portland REALTOR® David Somerville has published a list of Tips For Buyers To Close Fast on Bank Owned Portland Real Estate. He says that while many agents don’t take the time to educate their clients, following a few simple guidelines leads to a much more satisfying buying experience.

In a market that sees a lot of Portland real estate transactions needlessly falling out of escrow, Somerville says that it is possible to not only close on time, but early, if a few simple steps are taken in advance.

“Number one on the list of ways to ensure a fast closing is to make an all cash offer. Of course, not everyone can do that, so I’ve put together some tips that many buyers will be able to take advantage of to expedite their closing.”

The tips include:

1. Make an all cash offer
2. Sell your current home before making an offer on another one
3. Get preapproved with a mortgage broker, not just prequalified
4. If possible, get your loan from the bank that is selling the property
5. Tighten inspection timelines to 3 business days instead of the standard 10
6. Have mortgage broker order appraisal 2 business days after offer acceptance
7. Have certified funds to escrow prior to signing closing documents
8. Don’t make any last minute credit purchases

For more detailed information on these tips, go to http://bit.ly/ojjgqb. For Portland real estate listings including The Pearl District and other Portland neighborhoods, go to http://www.maxwellsinclair.com.

For more information, please contact:

David Somerville
Prudential Northwest Properties
5 Centerpointe Dr. Suite 150
Lake Oswego, OR 97035
503-789-7633
http://www.maxwellsinclair.com

Chicago, IL – Lee & Associates, one of the largest commercial real estate firms in the country, continues its torrid growth in the Midwest retail brokerage scene by adding a pair of senior vice presidents to its Chicago office. Joseph Herron and Jason Sorce have both joined Lee & Associates Chicago to help bulk up the firm’s retail brokerage as part of the its rapid expansion in the Midwest.

“We in Chicago are thrilled with the addition of two seasoned well respected brokers of Jason and Joe’s caliber,” said Rick Scardino, director of retail brokerage in Lee’s Chicago office. “Their combined 25 years of experience are a wonderful addition to the Lee team, and there are plans to add to this dynamic group in the future.”

The addition of Herron and Sorce is the latest in a string of new hires for Lee & Associates in the Midwest. The firm also recently added Robyn Smart as a senior advisor in its Indianapolis office. Like Herron and Sorce, Smart’s focus is on all aspects of retail brokerage.

Herron joins Lee & Associates from Mid-Amerca Real Estate Corporation, where he spent 10 years as a retail broker. He specializes in retail tenant representation, the leasing of retail commercial property, and is involved with the pre-leasing of proposed power centers. His focus has been on the Metro Chicago trade area, as well as Downstate Illinois.

Sorce brings 12 years of experience in retail leasing, sales and disposition, tenant representation and developments services to Lee & Associates. His experience includes time spent with SRS Real Estate Partners and NAI Hiffman. Sorce’s experience in national and local landlord and tenant representation has created value through the understanding of both parties’ requirements.

Both Herron and Sorce’s professional affiliations include the International Council of Shopping Centers (ICSC).

About Lee & Associates

Celebrating 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 43 locations across the nation including California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, New Jersey, Nevada, South Carolina, Texas and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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Press Release Distribution Associates is one of many distribution channels for the above press release. For more information on Portland Real Estate, see Real Estate Press Releases.

Portland, Oregon – The high inventory of foreclosures in the Portland market, including pre-foreclosure short sales and bank owned homes, is driving prices and sales according to local REALTOR David Somerville.

“Prices are at historic lows right now, and the large inventory of bank owned Portland real estate seems to be the biggest factor.”

Somerville, who has been listing Portland homes for sale for 10+ years, says that sellers have a lot of competition from banks whose primary goal is to sell their inventory fast.

“In analyzing the real estate market, many times people make the mistake of focusing only on the demand for homes, not the supply. What they’re missing in this case is a fantastic buying opportunity due to oversupply.”

“The time to have bought a Portland home is obviously before the prices and demand return to boom levels. In my opinion, that means buying from the banks right now.”

According to Somerville, supply will dwindle and buyers will become financially ready to buy a home again.

He says that with each passing year of the housing market instability, the inventory of Portland foreclosures will have less impact on the overall market because banks will eventually close out their bad loans.

“I believe that when the foreclosure inventory is bought up, we’re going to see significant price increases again.”

He says that in the meantime, investing in this market may turn out to be the best financial decision some people make in their entire lifetime.

David Somerville
5 Centerpointe Dr. Suite 150
Lake Oswego, OR 97035
503-789-7633
http://www.maxwellsinclair.com

Portland, Oregon – Portland area real estate expert David Somerville sees buying opportunities in the current housing market that can be used by first time home buyers and trade-up buyers alike.

Somerville says that the dual combination of historically low prices and interest rates provides a once-in-a-lifetime opportunity for many buyers to lock in lower house payments on Portland real estate than ever before for a much nicer home than they ever thought possible.

“Many people just don’t realize how ideal the market is right now. There is an abundance of inventory which tends to bring prices down, of course, but it also provides a better selection of homes to choose from.”

He says bank owned inventory of Portland homes in particular is high, and that has served to make prices even more affordable for first time buyers. It has also made it easier for buyers needing to trade up as their family grows.

According to Somerville, to get the best deals on bank owned listings, it’s best to be pre-approved so buyers can act quickly to make an offer on undervalued properties.

“Since banks usually underprice their properties, they often get an offer quickly. The buyers that come prepared to make a serious offer generally get the best deals on the best homes, and can usually close escrow in as little as three weeks.”

He says that mortgage rates, which are tied closely to the bond market, are expected by many experts to resume a long uptrend soon, leaving this historic buying opportunity behind.

“I’d definitely recommend that anyone in a position to buy right now take a serious look at the Portland real estate market.”

David Somerville
5 Centerpointe Dr.
Suite 150
Lake Oswego, OR 97035
503-789-7633
http://www.maxwellsinclair.com/