Real Estate Market Revived?

After the July increase in pending homes sales, the big question on CNBC this morning has been "Is the real estate slump over?"

The answer: Residential, yes. Commercial, no.

What we are witnessing is a pick up among residential real estate. Yes, residential real estate is beginning to reveal a silver lining. But please remember to balance this with the many Notices of Default that may result in short sales and foreclosures across California.

In terms of commercial real estate, we are only starting to get a peak of what is to come. When residential real estate began to waiver, commercial real estate still remained untouched for another 18 months. Now that we've seen the worst of the residential market over the past 18 months, what do you think is about to happen with commercial??

In the past week, the SF Chronicle has been discussing the rise of commercial defaults. Almost 1 million square feet of empty office space is sitting on the market downtown.

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