Tuesday, October 7, 2008

Is credit crunch relief in sight?

So says Matt Pitcher at Live Oak Capital (H/T Traffic Court).

He says:

The good news is that there is still money available for well-situated and first-rate properties in healthy markets. As swaps have fallen, I’ve been hearing about rates for three-year loans at below 5.5 percent. I would not use a three-year loan (too short) for our assets, but they exist at that rate for the right properties in the right markets for the right investors.
Ah yes -- location, location, location gets you a loan. Some things never change. Hopefully we'll start seeing more of this in the news instead of the perpetual media gloom and doom. (But the cynic in me says that will change come early November.)