Spotlight On: David E. Gilmore, CCIM, CAI, AARE – Sperry Van Ness/Gilmore Auction & Realty Company
February 22nd, 2012 by Ori Klein
Spotlight on . . .David E. Gilmore
This month we’re putting our Spotlight on David E. Gilmore, national auctioneer, managing director and Chief Operations Officer for Sperry Van Ness Accelerated Marketing Company/Gilmore Auction & Realty Company. With over 25 years of experience in the industry, David’s background covers all facets of real estate. We recently spoke to David on several topics including the current market, bank-owned properties, and online auctions.
Commercial real-estate distress shows few signs of abating and continues to push U.S. banks to—or past—the brink of collapse.
Troubled commercial real-estate loans accounted for more than 65% of problem loans among the 11 banks that failed in October. While the number of failures was up month over month in October, the percentage of troubled commercial real-estate loans was lower, as the six banks that failed in September saw an 82% percentage of commercial loans among all problem loans.
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The auctions continue for Solyndra…
From The New York Times
This week, auctioneers will sell off many of Solyndra’s assets, including Herman Miller chairs, laptop computers and miles of copper wiring. But the real steals will lie in the exotic manufacturing tools, which could go for 25 to 90 percent off.
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Investors know that there is stability in real estate and they are paying attention…especially now…
The dislocation currently characterizing the global equities and bonds markets, is spurring a growing number of risk averse investors to seek refuge in the stable cash flows offered by core commercial assets…
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Good article on what not to do when it comes to commercial real estate auctions…
Three San Mateo real estate investors and one who does business in the county have pleaded guilty to rigging public foreclosure auctions outside the courthouse in Redwood City by agreeing not to bid against each other, according to the Department of Justice.
Troy Kent of San Mateo, Henry Pesah of Burlingame, James Doherty of Hillsborough and Laith Salma of San Francisco, were among eight Northern California real estate investors who pleaded guilty for their roles in two separate conspiracies between November 2008 and January 2011.
Another story showing how auctions are being used as a tool to help with the issue of distressed real estate…
From: Bloomberg Businessweek
The Philadelphia Housing Authority has announced its first-ever property auction.
Executive Director Michael Kelly said Thursday that the agency will be selling more than 400 vacant properties across the city next month. They’ll be sold individually and in groups of up to 25.
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Recent article that speaks about Solyndra’s assets going to auction soon.
By Marie Beaudette | DOW JONES DAILY BANKRUPTCY REVIEW
…the company will seek approval to hold an auction for its assets on Oct. 28. When it shut down and let go its more than 1,000 workers last month, Solyndra said it would try to find a buyer to restart its Fremont, Calif., plant.
The company hasn’t identified a lead bidder for its assets. Interested bidders would have until Oct. 25 to submit their initial offers.
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Green buildings and environmentally friendly commercial real estate is gaining popularity. Here is an interesting article on how private investors are utilizing green technology.
From: Sacramento Business Journal
Sacramento is one of two U.S. cities chosen to benefit from millions of dollars in private investment that’s part of a huge energy-efficiency project led by English business magnate Richard Branson.
The project, unveiled Tuesday, aims to tap private investment to help stimulate the retrofitting of commercial buildings in Sacramento and Miami-Dade County, potentially creating thousands of construction jobs.
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Things might be looking up for the Dallas – Fort Worth Commercial Real Estate Market.
Candace Carlisle
Staff Writer – Dallas Business Journal
Dallas-Fort Worth area foreclosure postings for the October auction dropped 17 percent year-over-year to 4,177 homes, according to data compiled by Addison-based Foreclosure Listing Service Inc
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Here is an interesting article regarding what could be the largest residential real estate auction ever.
The 10,500-square foot home was originally put up for sale in 2008 at a price tag of $65 million — an asking price later reduced to $35 million.
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