Here at the RE/MAX Napa Valley office, RE/MAX Cornerstone I am often asked by my multifamily clients what are the current lending rates for multifamily. My preferred lender is offering the following deals. Here at RE/MAX Napa Valley we have referred many multifamily buyers to our preferred lender. If you would like information contact me at the number below:

Contact me Mike Bolen a commercial real estate agent here at the RE/MAX Napa Valley office, RE/MAX Cornerstone we are located in downtown Napa on the corner of 1st and Main you can reach me by calling 707-254-9999 or email Mike@MikeBolen.com

For multifamily investors nationwide, concerns about falling rents and rising vacancy has resulted in a decline in prices for apartment buildings. The “capitalization rate,” which measures the relationship between the price and cash flow of properties, increased yet again this time one-quarter of one percent from the second quarter of 2007 to second quarter of this year, according to Real Capital Analytics Inc., a real-estate research firm. The cap rates are now at levels last seen at the end of 2004, the firm says.
The decline in prices has led to a pickup in sales activity across the nation. Real Capital Analytics reported last month that sales in June were “well above” recent months’ figures, with $5.5 billion already having closed or in contract in the third quarter compared with $8.7 billion in sales in the second quarter.
Multifamily apartment building sales already were far outpacing deals involving other commercial property, such as office buildings and strip malls. The availability of credit from government-sponsored Fannie Mae and Freddie Mac has buoyed values and fueled new deals. Turbulence at the mortgage titans, which together with Ginnie Mae hold 35% of the mortgage debt on multifamily housing, riled apartment owners last month as investors worried about the fate of Fannie and Freddie. But those worries dissipated as the housing bill signed into law last month made the government’s implied guarantee of Fannie and Freddie’s $5.2 trillion in mortgage securities more explicit.
There appears to be no indication that the hunger for these multifamily loans by the government backed agencies will end anytime soon. Indeed, Fannie Mae announced last month that it would increase its commitment to buy loans on multifamily housing of up to $5 million to provide additional liquidity for rental housing. Fannie said it invested $20 billion in multifamily housing in the first half of the year. While that is down 25% from $27 billion in the first half of 2007, the number of total deals has fallen by 45%. Multifamily also remains a safe investment so far this year: Delinquencies on Fannie- and Freddie-backed multifamily loans in the first quarter were just .09% and .04%, respectively.
Here at the RE/MAX Napa Valley office, RE/MAX Cornerstone Commercial I specialize in multifamily investment real estate. I am an avid student of the bay area market with an emphasis on the Napa Valley wine country. Put my 16 years of experience and expertise to work for you in your next multifamily real estate investment. You can contact me Mike Bolen at 707-254-9999 or Mike@MikeBolen.com.

This article was written primarily by Nick Timiraos with the Wall Street Journal

As a commercial investment real estate broker based in Napa, I want to help my clients save money on their real estate holdings. Please read the following directly from the Napa county property tax assessor concerning a property tax review request:

“In my capacity as Assessor-Recorder-Clerk I want to provide as much information to the public as possible regarding property tax, document recording and other related issues. An informed public is the key to good customer service and to insuring that every property owner and resident receives fair and prompt treatment. Some of the duties of the department include property tax assessment and parcel map maintenance.”

-John Tuteur, Napa County Assessor, jtuteur@co.napa.ca.us (707) 253-4459

To find the necessary documentation to request a review of you property taxes, please go to the following link and follow the instructions below:

http://www.co.napa.ca.us
In the search tab type in Assessment Review Request
Click on #2 on the list
 OR
Top right click on Government
Left side click on Department/ Districts
Click on Assessor
Click on Documents/ Forms
Assessment Review Request

Now is the time to invest in Napa Valley real estate.
If you are seeking a hotel, multifamily, office or retail
real estate investment or even a ultra luxury home priced
over $4,000,000 you should meet with my team and I for a
private consultation. My office is located on 1st and Main
on the busiest corner in Napa Valley. Here at the RE/MAX
Napa Valley office RE/MAX Cornerstone my team specializes
in off market hard to find investment real estate. Contact
me, Mike Bolen at Mike@MikeBolen.com or 707-254-9999.

The changes would be especially helpful to homebuyers in high-cost areas such as the Napa, Sonoma, Marin and other bay area counties.

In the fourth quarter of 2007, the median single-family home sold for $521,441 in Sonoma County, $604,500 in Napa and more than $1 million in Marin, well above government loan limits. Buyers typically make up the difference through privately backed, second mortgages, but those “non-conforming” loans have become more expensive and difficult to obtain because of recent trouble in the mortgage markets.

Those financing troubles have hurt home sales. In Sonoma County, sales of homes between $450,000 and $600,000 – most of them needing non-conforming loans – dropped 61 percent in the fourth quarter of 2007, compared with the same quarter of 2006. Sales of homes between $300,000 and $450,000 – most of them fundable with conforming loans – dropped less than 2 percent.

Source: North Bay Business Journal