14 Great Things About The 2008 Economy

1. Tenant improvement contractors call back right away

2. Will get easier and easier to park at office buildings

3. Not as hard to get reservations at most expensive restaurants

4. If your kids are renting in their 20’s, it might not be a bad time for them to get their first home

5. Owner-user candidates who still have a viable business, cash flow and a down payment can still get great SBA owner-user loans

6. Remember in late 2006 and early 2007 when good office buildings for sale had multiple offers, frothy low-cap pricing and 9 out of 10 bidders walked away empty-handed? Well, the odds just got a lot better – better pricing, higher caps and way less bidders!

7. Want to be a VIP – open a commercial escrow at any title company – champagne limo service, one title company even unrolls its red carpet for you

8. We don’t have to be jealous anymore of all our mortgage broker friends driving around in new Ferrari’s

9. Remember how you use to dread going away on all those vacations and coming back to hundreds of emails and stacks and stacks of piled up work? Well, now that we can’t afford to take as many vacations you won’t have those piles waiting anymore

10. Remember when we were so flush with commissions and bonuses we were out buying big flat screen TV’s and new cars and other cool stuff, but it took so much time checking out the features and test driving and researching – think of how much extra time you have now that you’re not out buying stuff so often

11. Those of you in larger brokerage houses, remember when the market was hot and everyone wanted to be a real estate agent or mortgage broker and there weren’t any empty offices or cubes – well, now there should be a bit more space, and if not yet, just wait!

12. A softer office market means more broker open houses with prizes and lots of free food!

13. What buildings sold for in 2006 and 2007 may not matter in 2009 – Historical is Hysterical!

14. Coming to IMF meetings are more important than ever so you can network to find out which lenders are really making reasonable loans, and what cap rates should you take that new listing at – Plus all you can eat buffet!