Bye Bye, Bottom
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|If you're still not sure whether we've hit bottom, more investors are saying we're sitting there or past it, says DebtX EVP Tom Goodwin, who traveled from Beantown to join the National Realty Club for its bi-weekly luncheon on Monday. Residential is leading the charge, but commercial is right behind it, says the loan sale advisor, whose firm is working on $500M worth of deals right now. Banks have been raising money for the past few years—and stuffed it into reserves—but that money can only sit on the sidelines for so long, he notes. Desire has changed from selling assets to portfolios over the past six months, and he says that it's great to buy on an assumption basis with financing in place. He's seeing increased fund formation, and over 16k buyers registered with DebtX.|