We are seeing a resurgence of commercial real estate projects & new construction loans especially in multifamily housing. Of course people fear another housing meltdown like 2008, but not to worry!
According to a national economist last week, the current demand for housing is actually that…a demand. Unlike our experience in 2008, where the demand was actually the housing bubble and ultimately the housing crash. The inflated prices from 2006/7 were unsustainable. Today, however, the economy is doing well and unemployment is at an all time low. Those two influences are determining factors of true demand. Additionally, the demand for luxury housing is up. So some of those commercial real estate projects that were sitting on the back burner in 2010, are now resurfacing causing the resurgence of commercial real estate project and new construction loans. This is great news for the local communities.
However, we understand that several developers and contractors were hurt by the down turn and their financial picture still looks bleak. Having lived through it myself, I remember the toll it took on everyone, personally, emotionally, and financially. That’s why we work with developers and contractors to pencil in the numbers and search for the best loans to meet your needs. Of course it is up to us to create the most successful strategy to present to different lenders. Then we create hungry lenders willing to work with you to complete your project.
Sign up for a free consultation, and Let’s get those projects done!