The market collapse that began in 2007 was the game changer to all real estate markets across America. Many investors sold off their least profitable properties, when they had the time, or else lost them. Luckily, some investors with great banking relationships were offered some reasonable help from their lenders. The thought here was that the lender would rather work with someone who had been performing, but was caught up in this government wasteland, than to start anew with an unknown.
We all know that the government has no idea about what they're doing and at this point is just grasping at straws. It will take capitalists to guide us through, in spite of all the government's meddling.
Yes, real estate is starting to do good in many areas, but it is still an extremely "local" market; sometimes rising on one block, while falling on the next.
Deal flow is progressing about as fast as cross-town traffic on a Thursday of a three day weekend at 4:30PM, due to banking limitations on new financing and the requisite for larger equity positions.
Refinancing has become ridiculously complex as credit markets keep tightening from stringent lending requirements, as real estate battles with the feds liquidation of banks.
This group will be meeting to discuss how to do business in today's uncertain monetary climate. Although this will be a networking group, we are also planning brainstorming and mastermind sessions in quiet surroundings.
We are looking for everyone whose business relates to real estate- lawyers, CPA's, investors, bankers, mortgage people, title companies, building inspection engineers, owners, developers, etc. Our mission is to bring the brightest commercial group together to advance the professionalism of this industry.