For Real Estate Professionals Seeking a Market Edge
Gas Prices Remain High in 2009
Gasoline prices remain near record highs for the year as a weaker dollar and rising global stock markets boosted oil prices. Prices at the pump fell slightly this week to $2.631 a gallon, according to the American Automobile Association, Wright Express, and Oil Price Information Service; reflecting a decrease of 6 cents from the peak of $2.691 reached on Oct. 30th. Prices are now 52.6 cents higher versus the same period one year ago when gasoline prices slid along with oil prices as the recession took hold. Higher prices come even as the demand for both oil and gasoline remain soft.
For most of this year, oil prices surged as investors pumped money into crude oil contracts to shield themselves from a weaker dollar. Oil was seen as a safer bet with demand expected to rise next year as the world's economy begins to recover. After hitting their lowest level in a month, oil prices stabilized Monday as projections of future increases were published. Benchmark crude for December delivery rose $2.56 to $78.91 a barrel on the New York Mercantile Exchange.
We will keep you posted…
Hot Money
Insurance Company Seeking Class “A” Properties
Penstar is currently working with a lender actively funding loans on Class “A” industrial, office, medical office, and grocery anchored retail located throughout the United States% seeking loans ranging from $3 million to $35 million in major metropolitan areas. Current terms and corresponding rates are: 10 years: 6.75%; 15 years: 7.0%; 20 years: 7.25%. All loans carry a maximum amortization of 30 years. 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
“Daytime Television” “Only the daytime soaps,” the inmate said. “At night we're locked in our cells and don't see any television.” “That's too bad,” the reporter said, “But I do think it is nice that the warden lets you watch in the daytime.” “What do you mean, nice?” the inmate replied. “That's part of our punishment.” |
30
Day Libor |
10-Year
Treasury |
Prime |
0.32% |
3.74% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-9600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367