Avatar's Blog
» Brisk Business in '06
Brokers around the country are reporting a banner start to 2006. With banks and conventional real estate lenders tightening the reigns on business, investment and real estate lending, non conforming loan brokers are finding their phones heating up.
Commercial purchases are up in the southeast and south central states. The northern midwest, usually quieter in the winter months is seeing a brisk upswing in real estate loan requests.
By far the most noticeable increases are still in the owner occupied residential lending arena across the country. Hardest hit appear to be the midwest and southeastern seaboard with more requests for foreclosure bailouts than other parts of the country. Condo-conversion afficionados take note - if condo and home owners are being foreclosed on, they will need new residences in a hurry. And the first stop will be apartment buildings. Check the litmus papers to see if it's really time to convert those apartments to condos. Consider whether you might to be the only apartment complex left in a town with empty condos and increasing numbers of folks looking to rent instead of purchase.
