financing in a time of uncertainty
DESCRIPTION
Financing in a time of Uncertainty. Richard A. Hanson, CRE New York, NY. Case/Schiller Housing Index. 35% Decline In 2 years. Retail Sales. Total Public Debt. 30 Year Conventional Mortgage Rate. Gross Domestic Product. Civilian Employment. Civilian Unemployment Rate. Confidence. - PowerPoint PPT PresentationTRANSCRIPT
Financing in a time ofUncertaintyRichard A. Hanson, CRENew York, NY
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+Case/Schiller Housing Index
35% DeclineIn 2 years
+Retail Sales
+Total Public Debt
+30 Year Conventional Mortgage Rate
+Gross Domestic Product
+Civilian Employment
+Civilian Unemployment Rate
+Confidence
+In Search of Financing
We are back in the 60/70’so Equity | Cash Buyers Only Playerso Investment Bankers and Lenders On the sidelines
Fundamentals Still Ruleo Location still everythingo Appraisals more important than ever
Easier to Find the Lenders (just kidding)o Only a few lefto Deals have more equity/less leverage/few participants
+Landscape of Participants
TravelersGroup
Bank ofNew York
HSBC Wachovia PNC Bank Suntrust Citibank Bank of America LaSalle Bank
MBNA South Trust Bank One FleetBostonFinancial
Firstar Corporation
First AmericanNational Bank
5/3 BankJP MorganChaseMerrill LynchWashington
MutualNational City
Bank Wells Fargo
LehmanBrothers Merrill LynchBear StearnsCarlyle
Group Blackstone AG Edwards Alex Brown
William Blair Blackrock FidelityInvestments Legg Mason Prudential
Securities Paine Webber Oppenheimer
Corus AmalgamatedFirst CharterMellonFirst BankOak ParkCountrywide Freemont
Savings
Individual Investors
DE
BT
ME
ZZE
quity
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+Trust•Working with who you know•Performance is proof•Integrity
+CRE Counseling Process
Technical Competency
Thoughtful Analysis
Critical Inquiry
Trust
ConfidenceOUR knowledge base is challenged
OUR Thoughtful Analysis is searching formeaning in the data
INQUIRY is overloaded with uncertainty
TRUST is at a premium
CONFIDENCE is shaken