Commercial Loans and Fun Blog

Commercial Mortgage Activity Seems To Be Picking Up

Posted by George Blackburne on Sat, May 18, 2013

As the owner of C-Loans.com, the largest of the commercial mortgage portals, I sit in a somewhat unique location to observe the commercial real estate loan market.  From my point of view, commercial mortgage activity seems to be picking up nicely.

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  1. At Blackburne & Sons, the private money commercial mortgage company, we maintain a board listing all of the loans we have in process.  That board seems fuller right now than at any time in the past six years.
  2. A large number of participating banks reported that they had commercial mortgage loans in process for C-Loans this month.
  3. Our "big hitters" (former lead buyers who earned their listings on C-Loans by closing at least five loans for us) are reporting a nice number of closed deals for the month.

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It makes sense.  The housing market has been roaring back over the past year.  My oldest son, George IV, is trying to buy his first home in Sacramento; but speculators, paying all cash, are paying 120% of asking price for homes under $200,000.  He just can't move fast enough.

It therefore makes sense that banks are becoming more confident about making commercial real estate loans.  If residential property is enjoying a bull market, its not hard to see the commercial property market rebounding from its 40% drubbing.  My hard money mortgage company lost a $1 million commercial loan to a credit union last month.  The credit union made the loan at 4.5%, with no appraisal and no toxic report.

Hopefully this is the start of a commercial loans frenzy, where several hundred new banks will enter the commercial mortgage market and start to make a serious volume of deals.  There is six years of fruit that has ripened in the commercial real estate market.  A bank would be smart to try to book some commercial real estate loans right now at 5.5%, before competition forces them to drop their commercial loan rates down to 3.75%.

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Topics: commercial mortgage market