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Financing in a time of Uncertainty

Financing in a time of Uncertainty. Richard A. Hanson, CRE New York, NY. Case/Schiller Housing Index. 35% Decline In 2 years. Retail Sales. Total Public Debt. 30 Year Conventional Mortgage Rate. Gross Domestic Product. Civilian Employment. Civilian Unemployment Rate. Confidence.

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Financing in a time of Uncertainty

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  1. Financing in a time ofUncertainty Richard A. Hanson, CRE New York, NY

  2. Case/Schiller Housing Index 35% Decline In 2 years

  3. Retail Sales

  4. Total Public Debt

  5. 30 Year Conventional Mortgage Rate

  6. Gross Domestic Product

  7. Civilian Employment

  8. Civilian Unemployment Rate

  9. Confidence

  10. In Search of Financing • We are back in the 60/70’s • Equity | Cash Buyers Only Players • Investment Bankers and Lenders On the sidelines • Fundamentals Still Rule • Location still everything • Appraisals more important than ever • Easier to Find the Lenders (just kidding) • Only a few left • Deals have more equity/less leverage/few participants

  11. Landscape of Participants        Travelers Group MBNA South Trust Bank One FleetBoston Financial Firstar Corporation First American National Bank    HSBC Wachovia PNC Bank Suntrust Citibank Bank of America LaSalle Bank DEBT    Bank of New York National City Bank Wells Fargo Washington Mutual Merrill Lynch JP Morgan Chase 5/3 Bank      Corus Countrywide Freemont Savings First Bank Oak Park Mellon First Charter Amalgamated     MEZZ Lehman Brothers Carlyle Group Bear Stearns Merrill Lynch Blackstone AG Edwards Alex Brown   William Blair Blackrock Fidelity Investments Legg Mason Prudential Securities Paine Webber Oppenheimer Equity Individual Investors

  12. Trust • Working with who you know • Performance is proof • Integrity

  13. CRE Counseling Process Technical Competency Thoughtful Analysis Critical Inquiry Trust Confidence OUR knowledge base is challenged OUR Thoughtful Analysis is searching for meaning in the data INQUIRY is overloaded with uncertainty TRUST is at a premium CONFIDENCE is shaken

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