Just closed a Retail Strip Center refinance that only took 36 days!!! I was able to get my borrower a 6.875% rate for a 10yr fixedover 25 years with no balloon payment!! Even in this market there are still some good products out there, you just have to know where to look. This was one of those "easy" deals in that my borrower had an 825 FICO and an LTV of only 55% with great income and good cash flow. Even without this perfect scenario there are still great rates to be found for Full-Doc borrowers and even stated income borrowers that don't have a risky property. Contact me if you have something you need done, I'll let you know right away what I can do to help!   Take care,   Josh Cunningham Foothill Lending Commercial Lending Manager (909) 227-6644 07/21/2008

Hard Money in Our Current Market How private lenders can make or break your clients   I have had many people asking me about Hard money loans in the past few months so I thought I'd give you a brief overview of what they are and how they can be used in today's market. Hard money loans (HMLs) are a special type of loan backed by real estate collateral. Generally short-term loans with higher interest rates, hard money loans are typically made by private individuals or companies not affiliated with larger banks. A borrower usually takes out an HML loan using real estate property as collateral. The hard money lender will provide the loan on a "loan-to-value," or LTV, basis. The "value" of a given property is defined in the business as the amount that a lender could reasonably expect to rec... 07/15/2008

One previously-owned home closed escrow in San Dimas during the week ending July 12, 2008, and no San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said 12 new San Dimas listings were added during the week, for a total inventory of 131 previously-owned homes listed in San Dimas on July 6, including 86 single-family homes with no monthly fees and 45 condominiums, town homes and single-family homes in associations. The MLS listings indicated 34 of homes currently on the market were vacant. Of the homes for sale in San Dimas, 17 were listed as "short sales" and four were being  sold by the lender, according the MLS listing infor... 07/13/2008

Four previously-owned homes closed escrow in San Dimas during the week ending July 5, 2008, and four San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said nine new San Dimas listings were added during the week, for a total inventory of 126 previously-owned homes listed in San Dimas on July 6, including 80 single-family homes with no monthly fees and 46 condominiums, town homes and single-family homes in associations. The MLS listings indicated 33 of homes currently on the market were vacant. Of the homes for sale in San Dimas, 15 were listed as "short sales" and two were being  sold by the lender, according the MLS listing i... 07/06/2008

There are many hard money lenders out there today and they are growing in number due to the economic slowdown but they are not all alike. There are some honest companies and individuals that are trying to fill the gap for people turned down by banks by offering them financing when others will not. There are also very deceptive groups and people who are taking advantage of people and their situation and not only charging obscene fees and points, but trying to ultimately take their property as well. Make sure that if you are involved in a private money transaction that you have someone who understands the contract explain everything to you so you know what you are signing and do your homework early to make sure the company you are in talks with is legit and has a good name in the business... 07/04/2008

Five previously-owned home closed escrow in San Dimas during the week ending June 28, 2008, and three San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said six new San Dimas listings were added during the week, for a total inventory of 130 previously-owned homes listed in San Dimas on June 29, including 81 single-family homes with no monthly fees and 49 condominiums, town homes and single-family homes in associations. The MLS listings indicated 34 of homes currently on the market were vacant. Of the homes for sale in San Dimas, 13 were listed as "short sales" and two were being sold by the lender, according the MLS listing i... 06/29/2008

Beginning tonight from 7pm to 9pm you and yours can begin enjoying weekely concerts in the park at Civic Center Park located at 245 E Bonita Avenue in San Dimas.   Tonight, Invasion will be playing and for the next few Wednesdays, here's who else will be performing: July 2: Cold Duck July 9: Silverado July 16: Reno Jones July 23: five in Crisis July 30: The Answer (classic rock) August 6: Kopy Kats with donovan as "Elvis" August 13: Better Chemistry   For more information, call 909/394-6230.   Enjoy! 06/25/2008

Four previously-owned home closed escrow in San Dimas during the week ending June 21, 2008, and six San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said eight new San Dimas listings were added during the week, for a total inventory of 125 previously-owned homes listed in San Dimas on June 22, including 77 single-family homes with no monthly fees and 48 condominiums, town homes and single-family homes in associations. The MLS listings indicated 33 of homes currently on the market were vacant. Of the homes for sale in San Dimas, 14 were listed as "short sales" and two were being sold by the lender, according the MLS listing i... 06/22/2008

One previously-owned home closed escrow in San Dimas during the week ending June 14, 2008, and one San Dimas home reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said nine new San Dimas listings were added during the week, for a total inventory of 122 previously-owned homes listed in San Dimas on June 15, including 72 single-family homes with no monthly fees and 50 condominiums, town homes and single-family homes in associations. The MLS listings indicate 34 of homes currently on the market are vacant. Of the homes for sale in San Dimas, 13 are listed as "short sales" and five are being sold by the lender, according the MLS listing informa... 06/15/2008

Two previously-owned home closed escrow in San Dimas during the week ending June 7, 2008, and 10 San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said eight new San Dimas listings were added during the week, for a total inventory of 117 previously-owned homes listed in San Dimas on June 8, including 67 single-family homes with no monthly fees and 50 condominiums, town homes and single-family homes in associations. The MLS listings indicate 31 of homes currently on the market are vacant. Of the homes for sale in San Dimas, 10 are "short sales" and four are being sold by the lender, according the MLS listing information.  As o... 06/08/2008

Two previously-owned home closed escrow in San Dimas during the week ending May 31, 2008, and five San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said five new San Dimas listings were added during the week, for a total inventory of 117 previously-owned homes listed in San Dimas on June 1, including 69 single-family homes with no monthly fees and 48 condominiums, town homes and single-family homes in associations. The MLS listings indicate 30 of homes currently on the market are vacant. As of June 1, the MLS reported, 14 San Dimas single-family homes were available for leasing. Of those, the median monthly rental price was ... 06/01/2008

Two previously-owned home closed escrow in San Dimas during the week ending May 24, 2008, and six San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said eight new San Dimas listings were added during the week, for a total inventory of 117 previously-owned homes listed in San Dimas on May 26, including 70 single-family homes with no monthly fees and 47 condominiums, town homes and single-family homes in associations. The MLS listings indicate 30 of homes currently on the market are vacant.  As of May 26, the MLS reported, 16 San Dimas single-family homes were available for leasing. Of those, the median monthly rental price was... 05/26/2008

The monthly home sales activity report issued by DataQuick News sparks a flurry of newspaper articles, broadcast commentary and internet discussion. As a snapshot of the housing market, it depicts what transpired last month and compares it to a snapshot taken at the same time a year ago. Like a snapshot taken on vacation, it doesn't tell the whole story. There are so many variables in real estate, it's hard to pin the housing market down. The price of gasoline, jobs lost and found, family issues, personal triumphs and losses - all play a role in our individual housing decisions. Recent sales prices and the number of homes available help buyers gauge the local market. Changing seasons also affect the housing market, which is why DataQuick News compares sales during any month to sales in ... 05/22/2008

Seven previously-owned home closed escrow in San Dimas during the week ending May 17, 2008, and four San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said five new San Dimas listings were added during the week, for a total inventory of 129 previously-owned homes listed in San Dimas on May 18, including 76 single-family homes with no monthly fees and 53 condominiums, town homes and single-family homes in associations. As of May 18, the MLS reported, 13 San Dimas single-family homes were available for leasing. Of those, the median monthly rental price was $2,500. Ila prepares weekly market activity reports for her website, www... 05/18/2008

So much has changed in the last few months regarding Commercial Real Estate. We have seen similar "tightening" of Lender guidelines similar to the Residential side of the market, and have also watched down payments go up as well. Construction Lending has become more difficult but not impossible to get as long as you are very strong in assets/experience/liquidity. Raw land has become somewhat of a Joke in that most banks will only lend on it if you are going to build right away and will usually only lend 50% of the value.   Many right now have taken the approach that, "if it's to hard to find or to hard to work for I'll just wait". Bad advise my friends... THERE ARE STILL GREAT BANKS AND LENDERS OUT THERE!!! One Option that has become quite popular recently is the SBA 504 Program where y... 05/16/2008

One previously-owned home closed escrow in San Dimas during the week ending May 10, 2008, and three San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members.   The MLS said 16 new San Dimas listings were added during the week, for a total inventory of 134 previously-owned homes listed in San Dimas on May 11, including 81 single-family homes with no monthly fees and 53 condominiums, town homes and single-family homes in associations.   As of May 11, the MLS reported, 17 San Dimas single-family homes or condominiums were available for leasing. Of those, the median monthly rental price was $2,200.   Ila prepares weekly market activity reports f... 05/11/2008

Four previously-owned homes closed escrow in San Dimas during the week ending May 3, 2008, and three San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said six new San Dimas listings were added during the week, for a total inventory of 128 previously-owned homes listed in San Dimas on May 4, including 73 single-family homes with no monthly fees and 55 condominiums, town homes and single-family homes in associations. As of May 4, the MLS reported, 10 San Dimas single-family homes or condominiums were available for leasing. Of those, the median monthly rental price was $2,250.Ila prepares weekly market activity reports for her ... 05/04/2008

One previously-owned home closed escrow in San Dimas during the week ending April 26, 2008, and five San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said 10 new San Dimas listings were added during the week, for a total inventory of 130 previously-owned homes listed in San Dimas on April 27, including 75 single-family homes with no monthly fees and 55 condominiums, town homes and single-family homes in associations. As of April 27, the MLS reported, 11 San Dimas single-family homes or condominiums were available for leasing. Of those, the median monthly rental price was $2,000.Ila prepares weekly market activity reports for... 04/27/2008

Four previously-owned homes closed escrow in San Dimas during the week ending April 19, 2008, and two San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said six new San Dimas listings were added during the week, for a total inventory of 128 previously-owned homes listed in San Dimas on April 20, including 73 single-family homes with no monthly fees and 55 condominiums, town homes and single-family homes in associations. As of April 20, the MLS reported, 11 San Dimas single-family homes or condominiums were available for leasing. Of those, the median monthly rental price was $2,300Ila prepares weekly market activity reports fo... 04/21/2008

Three previously-owned homes closed escrow in San Dimas during the week ending April 12, 2008, and four San Dimas homes reportedly entered escrow during the week, according to the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by its members. The MLS said five new San Dimas listings were added during the week, for a total inventory of 136 previously-owned homes listed in San Dimas on April 13, including 82 single-family homes with no monthly fees and 54 condominiums, town homes and single-family homes in associations. As of April 13, the MLS reported, nine San Dimas single-family homes or condominiums were available for leasing. Of those, the median monthly rental price offered for single-family homes was $2,800.Ila prep... 04/13/2008