Experts Agree Local Housing Market Stabilizing
31 January 2009 - 11:22AM
Marketwired
Cascadia Investments, Inc. (PINKSHEETS: CDIV) announced today its
planned purchase of a triplex located at 708 South Yakima, Tacoma,
WA. The agreed purchase price based on its current assessed value
is $210,800 and the related party sale is expected to close within
the next sixty days. Currently, the apartment building's two
2-bedroom units and one 1-bedroom unit generate an annual rental
income of approximately $24,000.
In announcing this latest acquisition, Nazir Maherali, CEO and
President of Cascadia Investments, Inc., stated, "Our main focus is
to continue increasing shareholder value. We feel that the current
environment of low interest rates bodes well for our real estate
market and the experts seem to agree."
Bruce Williams, CEO of HomeStreet Bank believes, "The story in
2009 will be the turnaround in the housing market; there's a chance
we may see it begin in the first quarter if rates stay low."
And, Matthew Gardner, a principal in the Seattle land-use
economics firm Gardner Johnson, predicts the Northwest real estate
market will be "V-shaped" this coming year. "We're in a crisis of
confidence as much as anything else. If we start seeing confidence
coming back, I think we'll be one of the forerunners [in housing
recovery]."
About Cascadia Investments, Inc.
Cascadia Investments, Inc. (PINKSHEETS: CDIV) is a publicly
traded, real estate development company operating in the Pacific
Northwest. The company's principal objective is to create equity
and long-term earnings growth through the acquisition and
development or renovation of undervalued and foreclosed real
estate.
Free Trading Float 22,025,550; Shares Restricted 97,375,000;
Outstanding Shares 119,400,500; Authorized Shares 200,000,000
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information, the
forward-looking matters discussed in this news release are subject
to certain risks and uncertainties which could cause the Company's
actual results and financial condition to differ materially from
those anticipated by the forward-looking statements including, but
not limited to, the Company's liquidity and the ability to obtain
financing, the timing of regulatory approvals, uncertainties
related to corporate partners or third-parties, product liability,
the dependence on third parties for manufacturing and marketing,
patent risk, copyright risk, competition, and the early stage of
products being marketed or under development, as well as other
risks indicated from time to time in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Cascadia Investments, Inc. Tel: 253-383-7194
www.cascadiainvestmentsinc.com
Cascadia Investments (PK) (USOTC:CDIV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cascadia Investments (PK) (USOTC:CDIV)
Historical Stock Chart
From Jul 2023 to Jul 2024