For Real Estate Professionals Seeking a Market Edge
No Need for 2nd U.S. Stimulus Package
According to a recent survey of business economists, the U.S. economy may not need a 2nd fiscal stimulus package and the board has recommended that the government begin significant cuts in spending over the next 2-year period.
The National Association for Business Economics' semi-annual poll outlined serious concerns about the outlook of the United States budget. In early 2009, the government implemented a $787 billion spending package. Such a package was intended to break the worst recession since the Great Depression of the 1930s. A separate effort that was also rolled out in early 2009 included multi-billion-dollar bank bailouts to prevent a complete collapse of the financial system.
These combined actions have left the U.S. economy with a $1.58 trillion budget deficit for the fiscal year 2009, and an approximate $9 trillion shortfall for the forthcoming 10-year period, through 2019.
While economic experts commenting on the results of the survey acknowledged that the stimulus package did in fact help to interrupt a decline in the 2nd Quarter, only 35% of those polled viewed the fiscal policy as being both timely and appropriate.
We will keep you posted…
Hot Money
Bank Lender Seeking Permanent Loans in California and Hawaii
Penstar is currently working with a bank actively closing permanent loans for properties located in California and Hawaii. Loan amounts up to %8,000,000 will be considered on an adjustable or fixed rate coupon for a maximum term of 5 years and with a 30-year amortization.
Core properties will be underwritten to a maximum LTV of 65%; a DCR of 1.25. Fixed rates start in the low 7% range and offer a step-down prepayment: 3,3,2,2,1. All transactions will require a repayment guarantee. To learn more, please contact Steven Hamermesh at (818) 883-9609 or
Hamer@PenstarAdvisors.com..
Helpful Humor
The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work-week
“Henny Youngman Jokes” “Take my wife… please!!” A father is explaining ethics to his son, who is about to go into business: “Suppose a woman comes in and orders a hundred dollars worth of material. As you complete the transaction, she hands you a one hundred dollar bill. After she leaves the store, you realize she's given you two $100 bills. Now, here's where the ethics come in: should you or should you not tell your partner?” |
30
Day Libor |
10-Year
Treasury |
Prime |
0.32% |
3.74% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-8600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367