Just some random thoughts from the NCal CCIM and Bay Area Apartment Brokers Forum meetings that I attended this week.
There are still commercial lenders lending, at least that's what they are saying. They may require good credit and a fairly high LTV (here's a radical concept, having some "skin" in the game). However, the interest rates are pretty good.
It seems that business is slowing down. (I don't have any actual data. It's just a feeling that I'm getting as I listen to the marketing presentations at these meetings.) There use to be a lot more properties for sale presented. If I remember correctly, we use to have 5 -10 property presentations per meeting. There were probably only 5 or 6 properties presented in total at the 2 meetings and only half were new listings.
There seem to be less people at these meeting. (Again nothing scientific, just me looking around the rooms.) Maybe everybody is real busy (I don't think so) or it's the time of the year or they are cutting back on expenses or they're no longer in the business.
Your comments are always appreciated. Thanks for reading.
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