Banking and Real Estate

The following is a brief about banks and real estate that appeared today on the CCIM Institute's web site:

"On March 12, 2009, President Barack Obama signed the $410 billion 2009 omnibus appropriations bill. A provision of this legislation permanently prohibits banking regulators from publishing a rule defining real estate brokerage and management as financial activities and thus permissible lines of business for federally regulated banks. For years, CCIM Institute has opposed changes or interpretations in present federal regulations which would permit any banks or bank holding companies or subsidiaries to enter the field of real estate brokerage and management beyond properties owned by those institutions.In early 2001, the Federal Reserve Board and the U.S. Treasury Department published a proposed regulation that would let national bank holding companies and financial subsidiaries of national banks engage in real estate brokerage and management. Since that time, Congress has passed several temporary bans on banks entering the real estate brokerage and management fields. The legislation signed by Obama will permanently prohibit banks from engaging in real estate activities. "

Happy Anniversary

Today is our 30th anniversary!  Although it seems like only yesterday, we were incorporated in the State of Georgia on March 23, 1979.  The company was started in the middle of a recession and survived the "Tax Reform Act of 1986" recession of the late 1980's and early 1990's.  You old timers remember the S & L Crisis and the RTC.  The current mess seems like "deja vu" all over again.  Back in the 70' & 80's the banks used to not lend money on "intown" properties so the current "frozen" financial market is also nothing new.  We just adapt to the current market conditions and keep on moving froward.

Thanks to our great clients and customers, current and past.  Thanks also to our wonderful staff and agents and those of you that have been a part of the company in the past.  It's been a most enjoyable 30 years and we are looking forward to 30 more fun filled years!

Adams Consulting

Our "Consulting" division has a nearly 30 years history of working with both the Commercial and Residential property owners in Atlanta. In addition to advising property owners in Acquisition, Disposition and Management decisions, we have also assisted owners in appealing their Property Tax Valuations. We currently are working with several lenders in ascertaining the value of real estate that they have acquired through foreclosure. Some of these lenders have also asked us to look at the value of properties that are in "pre-foreclosure" situations. Lenders from several small banks have asked us for advice in handling some of their "troubled assets", as well performing loans. We had also advised property owners whose underlying mortgages have been acquired by the FDIC or another entity as the result of the failure of their original lender. In many cases there is an opportunity for an owner to re-purchaser the original mortgage at a discount.



We are currently helping tenants whose leases are expiring with lease or buy decisions and we are assisting some tenants in renegotiating existing leases. Contrary to what we hear in the press, there is plenty of opportunity in today's real estate market!

Amtrak & the Beltline Revisited

I am happy to hear that Amtrak, the Georgia Department of Transportation, the City of Atlanta and the Beltline folks have resolved the issue of Amtrak and the future State funded Commuter Rail service using the Northeast corridor of the proposed Beltline right of way for heavy rail. The parties seem to have figured out that the best solution, as mentioned in my February 1st blog, is the western route, that roughly follows Marietta Street from Downtown Atlanta to the main rail line out near the Atlanta Waterworks complex. Their proposed route along the Northeast corridor would have surly harmed, if not killed the Beltline project. It would have also further eroded the tax base in the neighborhoods adjacent to the corridor. This resolution is great news for every commercial and residential real estate practitioner in the Intown Atlanta market as well as Intown Atlanta residents and their great, historic neighborhoods.