Rental Market Getting Good News
On a bit of an inside note:
 I just spoke to my friend who works for Chase Bank in their loan department, and they were recently instructed that their programs for first time home buyers will no longer be offered… That’s pretty important news for apartment building owners. Why? With more and more lenders requiring past ownership for homebuyers to qualify for new home loans, the large percentage of first time buyers have little other choice but to remain in their apartment housing until the mortgage & housing market improves locally.
 This means more demand for apartment building owners and longer average tenancy, both solid recipes to success in any apartment portfolio. If you’d like to broaden your multifamily ownership, browse our current inventory on www.jabarnettrealty.com or contact us to let us know what type of investment you are looking for. We also can analyze your needs and return requirements to let you know which property type and size would best benefit your situation.
Peter J. Barnett, CCIM
October 26th, 2007 at 3:02 pm
Does the subprime fall out that is making it hard for home buyers to get loans make it harder for Commercial Properties to get financed?
November 5th, 2007 at 12:42 pm
The subprime market has less effect on commercial real estate loans as the majority of them are linked to the 10 year treasury index. I recently spoke with the president of a prominent local bank that does much commercial financing, and he concluded that even with two successive rate drops, it will take 6 months or more for it to really impact commercial loan rates… But the good news is that it will, and with the tax and insurance crises still in moderation, we’ll take all the good news we can get.