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FacebookIs anyone getting commercial or residential real estate loans? The real estate collapse continues. Inside scoop from my realtor friend Carl. Commercial real estate dead? Is this the recovery our president is talking about?
East West Commercial Real Estate
A Full Service Commercial Real Estate Company - Brokerage, Asset Management, Lender Services, Capital
Is anyone getting commercial or residential real estate loans? The real estate collapse continues. Inside scoop from my realtor friend Carl. Commercial real estate dead? Is this the recovery our president is talking about?
Politics was never meant to be a profession. Like diapers, they should be changed often & for the same reasons.
Somehow, for some reason, we’ve turned over all the power to insane, irrational, and generally wacked out people. We call them politicians. If U don’t get it the first time. …
Mr. Obama , Ive learned in life, U don’t learn nuth’en getting kicked by a mule twice.
When I came back to America after a year traveling around the world, it was like I was with greedy pigs. It will be healthy for our country to re-evaluate what is importent; that certainly is not aquiring lots of houses. I am much happier living a simple vegan lifstyle exploring human potential. Change your greedy ways and benifit – that is to say, evaluate the ture benifit of ownership relative to personal growth.
@AmadCatal1
Very, very true . . . . this is a slow, slow train wreck.
Eventually, more people will be in agreement with us that can see this problem for what it really is.
Perhaps then, we can start rebuilding this nation, doing away with parasitic institutions like banks
and other unethical money laundering institutions – and definitely no more wallstreets.
When will this affect Canada? Alot of my friends are wondering this and asking me. I know more about the US then what goes on in my own country.
People need to set up trusts and do it years before they could end up in a nursing home. This way they can leave the home to their family without the government or nursing home getting it. One can even leave the home to whomever and be able to live in it. A clause can be added that as long as they live in the home, they can’t be thrown out by the heirs.
@jimbobubbadj As long as the rental income continues pays the mortgage and all other expenses and gives me a reasonable profit for my efforts, I will attempt to renew the loan. If not sayanara and I walk away.
My commercial loan is up for renewal on July 2013.
Residential has been collapsing for quite some time now. Odds are it will collapse a bit further before bottoming in nominal terms… however, given the amount of inflation we’re already seeing real estate is a BIG LOSER and will continue to be for quite some time.
Yes, actually we just got a residential loan under 5% at 80% financing on a new home purchase and banks are still loaning money on commercial and residential real estate the difference is banks are requiring what they should have required from the get money down 6 months sourced and seasoned funds of living expenses in other words people that are financially responsible not anyone with a heart beat plus FHA and VA is booming right now for loans i have a very good friend that does loans
Prices are falling back to reality and became unaffordable. The American people bought into the bubble… believieng they all won the lottery!!
I know of a manufacturing property site 6 Lg steel buildings built 15-20 yrs ago worth 1.4-2.2 mil. 10yrs ago, current taxes 52K anual – lawyers have advised owners to tear it all down to reduce the tax burden, because it will not sell, due to tax. Now that is what bad is in central Indiana. !!!!!!!!!!!!!!!!
Urban Development Loan. Need good credit. Some limitations on what you may want to buy. Good Contract…..
guess we’re all just waiting patiently for the Gov to default and go back to the gold standard, been waiting for that for many years now, just hope it ain’t too much longer, “the waiting is the hardest part” Tom Petty…lol
yeah, not really. My uncle just got a commercial loan last week for 1.3 in virginia, and my In Laws bought a house last month with 0 down. In my view loans are easier to get right now. But these people in my family do have 700+ credit with excellent income.
i took the credit card companies for all a 780 credit score was worth, screw credit you dont need it.
@MrB0TT
thats odd cause I heard gmac was giving out subprime loans and lowering standards.
I just bought a new car today in fact. My credit score is 788 and they made my wife co sign on the loan. 5 years ago when I took out a loan (also from gmac) I did not need anyone else to co sign. Credit is tight for sure right now.
All I can tell you is,…..things will get much worse than getting better and that’s why lots of wealthy are leaving because this is an end of America, true it will get very very ugly, it will be like after the collapse of Roman Empire, it will turn into dark ages.