Is there any provision on how often the asset that the REITs hold is evaluated? While word on the street might see the asset depreciate, how / when would we see it being reflected? Annually during their financial report?

The biggest risk is not this.

The biggest risk is having difficulty to refinance the borrowing, aka credit crunch time that banks not willing to refinance the borrowing, as most borrowing are mid term nature only around 4~5 years.

Some overseas reit went under due to this factor.

If NAV nose-dived and resulted violating the reit guideline of borrowing limit, it is actually quite easy to solve, as long as financing can be easily sourced either through right issue, private placement etc.
Portfolio properties are required to have revaluation every 3 years, based on reit guideline, if not mistaken.

What factors affect bond price?

I think ppl need to understand the nature of individual reits...As for Pavreit....70% of the rental renewal in sep 2013....pipeline coming in is the extension pavillion and Farenheit......and also usj mall......There talking about Pav2 in bukit jalil which i think they will put into this reit to enchance the yield...

PAVillion mall is very strategic location in KL...A lot of tourist and local ...Jus go and c urself...so there are demand for the retail..they can command the rental increase....So far in KL city Center, only KLCC hav the same class as PAV.....Sungai Wang and Lot 10..is fading or maintaining...Times Square is diff of crowd...there are selling cheap product...

As long our bond yield is below 4.5%..i think Mreit still a good place to put ur money....IF u sell..where u goin to park ur money....

Do remember..as FED taper their bond buying in US, which will cause the the yield to go up.....but they have to do it gradual as world economic is still fragile......our mindset is taper bond buying...yield shot to the star in the short term.....NO.....they are doin gradual...may b 3-4 years.....that long time....As long the reit manager take initiative to enchance the reit yield....then the particular reit is a safe bet.....

But Uncle Ben is resigning soon. Whether or not the new boss will hold on to the existing policies is a question mark...

Maybank has similar view with Cherroy, that is the interest rate should stay unchanged in 2014. For this, bond yield is expected to normalize back and it's already happening in recent weeks. Looks like REITs at current level should be stable. 

I am still stuck at 1.3x range. So wats the options now? Average down?

Thanks. 

yr situation is similar to those who bot gold at 1600-1700 - sell or hold?

you can sell all, hold all or sell/hold 1/2, yr choice.

the way it's looking now, there ain't gonna be quick rebound.

so, if hold, best be ready to hold >3 yrs, imo.

meanwhile, yes... there is div for pocket money at least, unlike gold!

my avg price is not as high as yours, but i have no plans to sell for >5 yrs.

US Treasuries rising yields are a natural order of things as the U.S. economy recovers and investors should not over react.
Typically, rising U.S. Treasury yields reflect a stronger economy. Stronger economies translate into stronger index earnings growth.