Many reits which were sold off so drastically have made some modest comebacks. For example AIV which had been trading above $40 and fell off below $10 is now trading around $20. Still way down from its high but not on death's doorstep either.

Yet they still have about the same number of apartments which are rented and bring in money.

I was surprised to learn in this crisis that commercial real estate mortgages were written for such short periods... like three to five years. This means they have to be rewritten at new rates quite often. Why the original mortgage cannot be for twenty to thirty years is perplexing. With banking coming out of its own problems the REITs are finding refinancing easing into more comfortable times. I understand that book to book accounting rules which did much harm to these reits and other industries are no longer an issue. If this is correct then this illogical accounting practice is hopefully not ever going to come back. It certainly made temporary shifts in down markets hard for anyone with hard assets to get refinanced.

For those hardy souls who bought a variety of reits when they traded in single digits... you all get double gold stars. But many good quality firms are recovering and improving their balance sheets but continue to be heavily discounted from their previous highs. With some of the uncertainty and murky waters cleared up, it is time to reconsider REITs and see if any bargains still exist in this sector. I am sure Factoids charts will be of help in this quest but also careful reading of current quarterly--annual reports from the management of the reit. A little time spent could reap some very handsome long term rewards and current income for your portfolio.

***PinewoodsBear***