Event Recap: Michelle L. Smee FRICS Vice President Senior MAP Underwriter CBRE HMF Inc.

11/30/2010 11:50

At the Northern California Chapters of RICS and CCIM event on November 11, 2010, featuring Mr. Luis Belmonte of Seven Hills Properties, attendees learned that the multi-family sector is the best segment to be building, buying, selling and refinancing right now. That sector is followed by industrial, office and retail. Multi-Family underwriters were in accord with Mr. Belmonte’s observations about the multi-family sector being busy, as a result of foreclosures. Demand for rentals is increasing for both market rate and affordable housing, as well. Freddie Mac, Fannie Mae and HUD are all reporting record volumes of financing applications to previous years. Attendees included professionals across a broad spectrum of the commercial real estate market, including brokers, building surveyors, architects, lawyers, quantity surveyors and developers, who gained pertinent knowledge about the impact of local, as well as global conditions as it pertains to their market.