Commercial Real Estate Bailout - Do you Approve?

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Services for Real Estate Pros with Independent Coach, Trainer & Consultant
This week some of our Nation's largest commercial real estate players approached the Administration (Congress, the Treasury Dept., and others) to ask for help in the form of bailout money due to the current economic picture.

Key to this is whether or not 'Joe and Mary' taxpayer approve - after all, we are the ones that will inevitably be paying this bill, not Congress.

Estimates were given that over the next 36 months and estimated $530 B (that's BILLION) in commercial mortgages will be due for refinancing. 2009 estimates are at $160 Billion.

The challenge lies in the collapse of the credit markets, which could potentially cause owners to go into foreclosure or even bankruptcy if they are unable to secure the new loans (refinance).

I don't think we've seen the end of industry execs heading to Washington with their hats in their hands, perhaps it's only begun.

My youngest made a good point in all of this, asking if 'this happened before or just now' -- we told him this was quite different than any other time in our Nation's history.

He said "Well, he did say we'd get a change..."



Out of the mouths of babes, eh?!

Merry Christmas 'rainers all!

In Service,
Tim Mancuso - District Manager
Ph: 303-596-9838
Tim Mancuso is serving as District Manager for Lawyers Title Insurance Corp., and was Co-Founder / VP Global Sales for MyREALTY.com and the GLS - Global Listing Service. Mr. Mancuso has over 20 years experience as a Technologist, Trainer, Coach, Recruiter and Speaker Tim Mancuso - Industry Expert and Global Director of Sales
'Where Market Knowledge, Solid Technology Implementation, and Great Service meet - you will undoubtedly find Success.' - T. Mancuso
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Rainer
89,590
James Engel
Keller Williams Realty Beverly Hills - Beverly Hills, CA
KW Beverly Hills

Your "little one" is definitely right about us getting a change. Thank you for sharing that with us. I hope you have a great day and Happy Holidays!

Dec 24, 2008 04:18 AM #1
Rainmaker
388,919
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

No I don't like it at all.  The only thing I would do is let them refi at a lower rate.

Dec 24, 2008 04:31 AM #2
Rainer
162,602
Tim Mancuso
Independent Coach, Trainer & Consultant - Gilbert, AZ
Elite Sales Coach - GROW SMART

James: Thank you!

John: Lower rate is one good idea. In fact, it would seem that rates are quite reasonable across the markets this year. Add to that Modification options and it would seem a 'bailout' is not needed.. just my opinion of course, I'm no commercial expert.

-Tim Mancuso

Dec 24, 2008 04:46 AM #3
Rainer
478,183
Not a real person
San Diego, CA

I realize that companies provide jobs for people, but I'm more of a "let's give the money to those who will spend it" rather than to companies.

Best wishes for health, happiness, peace, and prosperity in 2009.

Dec 31, 2008 05:49 PM #4
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Rainer
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Tim Mancuso

Elite Sales Coach - GROW SMART
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