Recession Over . . .ish
|Think of it: Babies born in 2008 have never known an end-of-year real estate forecast without doom and gloom. So last night's Transwestern Transitions event—where it was announced (albeit hesitantly) that the recession is over—was monumental for both brokers, toddlers, and pretty much everyone we know.|
Transwestern Investment Company's Douglas Lyons was joined on a panel by TW?s Rob Bagguely, Steve Pumper (in from TW Dallas), and BlackRock's Gregory Brunk. Douglas reports that multi-family buyers and sellers had a meeting of the mind on price, helped by Fannie and Freddie. He also says insurance companies are the best bet for getting a new loan. They tempered positive remarks with a reminder that lagging indicators like unemployment and real estate would be hampered by uncertainty and lack of liquidity.
Helping out with the deal flow for next year are LFI's Tim Rose and TW's Brittney Mitchell and Patrick Owens. Tim just signed a lease with a car dealership for an auto park near I-90 and Randall Road in Elgin. Brittney and Patrick represent Chase, which just signed a lease for a new branch in Oak Lawn.