Happy New Year
Posted by Jordan Crouch on January 5, 2009
- ECONOMIC NEWS: Uncertainty greets the new year as investors grapple with a volatile market, President-Elect Obama presents his proposed stimulus package, and bond yields, especially the Ten Year Treasury Bill, are at all time lows. The continued fallout from Barry Madoff’s Ponzi scheme is also affecting the market.
- LENDING MARKET: With Banks licking their wounds from 2008 and conduits still a distant memory, Life Insurance companies look to be the dominant lender for 2009 in addition to Freddie Mac and Fannie Mae. Expect more conservative underwriting, higher cap rates and lower loan to values in 2009. Most property types will be financeable in ’09 with apartments, industrial and officer properties being the preferred type (in that order).
- REFERRALS: My business is built on referrals. For those that referred someone to me in 2008 I deeply appreciate it and thank you for trusting me with your recommendation. I’m always looking to educate and assist people with financing commercial real estate. If you know of a client, associate or yourself who would like to look at a refinance or purchase, I’d love to help. If you’re comfortable sending me their name or giving my name out, please do so. Thanks again. I appreciate your support. Here’s to a successful 2009!
