My experience for the year is that overall market activity for commercial real estate here in Louisville has been uneven. I have had several runs of 2 or 3 weeks when things were very busy followed by 2 or 3 weeks where appointments were canceled and people would not return phone calls.
Lately, I have been having another busy streak. One listing I have has had several proposals and requests for proposals. Another listing has a lease presently under negotiation. A tenant rep client of mine is trying to negotiate a lease with a landlord. AND another listing of mine has two people both promising that they intend to submit purchase offers (although we have been waiting a week for both of these so far)
Persistance is very important to getting a transaction closed. Two or three years ago, this amount of activity would have seemed like a sure bet but in today's uncertain economy, prospects on both sides of the transaction will suddenly unexplicably disappear.
Especially now it is important to not count your chickens before they hatch. Continue to pursue all options until your deal is signed.
Have a great (albeit rainy) day and let me know if you need help with your real estate needs.
David
David W. McCoy
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
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