Gwinnett residential notices are going out April 15, happy tax day! Let's hope the printer/mailing service gets it right this time. If all goes well the deadline to appeal will be May 30. As most other metro area counties will have the notices on the street by May 30 please contact us regarding your appeal well before this deadline. Thank you! www.fair-assessments.com
Many real estate market participants have criticized lenders for failing to foreclose on problem loans. Allowing property owners to fall behind on payments, or reduce payments, because the lender was already overwhelmed with problem loans became knows as "extend and pretend." The practice of ignoring the problem seems to be coming to an end however.
A year ago lenders had 80% of problem loans in loan modification programs. In an about face lenders are now foreclosing on approximately 71% of these loans and modifying only 29%. According to Moody's, approximately 7,000 commercial mortgage backed securities loans were in some form of default at the end of 2010.
We have successfully made it passed April 1 and all of the nonsense and misinformation being put out there by part-time and less than qualified property tax advisors. Can there be any doubt that the Georgia Taxpayer Return of Real Property has lost its usefulness when Gwinnett County sends out commercial assessment notices BEFORE April 1?
Gwinnett knows that the majority, if not all, of the returns filed are simply filed to generate an assessment notice that can be appealed. So why wait for returns? And for those of you who think that filing a return is the same thing as appealing your assessment, think again. Filing a return gives you no rights. Rights are only associated with an appeal of an assessment notice. Contact us if you have any questions.
55 Allen Plaza Bought by Lincoln Property for Pension Fund
The world's largest bond fund is opening a new mortgage real estate investment trust (REIT) to invest in, and issue debt secured by commercial real estate. With nearly $2 trillion in commercial real estate debt maturing in the next five years, and lenders increasingly unwilling to issue loans secured by commercial real estate, they see an opportunity to issue and purchase debt secured by good quality commercial RE assets. They also made note of the fact that most money is chasing trophy properties in New York City and Washington, D.C. and there is a need for liquidity in other markets.