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Location,
Location, Location |
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 In the fast-paced world of real estate finance, you need to
understand the nature of the property at hand quickly to
understand a deal's viability. For investors, lenders and
brokers, high-resolution satellite photographs are a great
resource for looking at subject real estate and answering
top-level questions: Where is it? What is it? What's nearby?
Does the proposed transaction make sense?
Essentially,
"location, location, location" meets "a picture is worth a
thousand words." Evidence from a satellite or aerial photo
alone will not allow you or a lender to say "yes" or "no" to a
deal as many pieces of the puzzle must be assembled before
making a final decision. These images, however, can often
confirm or disprove key, value-driving aspects of the subject
property. Thus, they can have a major impact on the
deal.
See below for numerous web sites that include
satellite-imaging capabilities and others that combine these
maps with property information. Here are some of the most
popular sites.
Geographic imaging web
sites
·ArcExplorer:
www.esri.com/software/arcexplorer/
·Geographic
Resources Analysis Support System (G.R.A.S.S.):
grass.ibiblio.org
·Google Earth:
www.googleearth.com
·Google Maps:
maps.google.com
·MapQuest: www.mapquest.com
·Microsoft Virtual Earth: local.live.com
·Open Map: www.openmap.org
·Yahoo! Maps:
maps.yahoo.com
Single Family Residence web
sites with GIS
·Property Shark:
www.propertyshark.com
·RealestateABC:
www.realestateabc.com
·Trulia: www.trulia.com
·Zillow: www.zillow.com
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Fed cuts short-term rates by a half
point |
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For the first time in more than four years, the Federal
Reserve has made it cheaper to borrow, and by an unexpectedly
big margin.
The central bank's rate-setting committee
lowered the target for the federal funds rate by half a
percentage point, to 4.75 percent. The prime rate will fall to
7.75 percent. Consumer interest rates based on the prime rate
-- mainly home equity lines of credit and most variable-rate
credit cards -- will fall a half-point in coming
weeks.
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Click here to read the rest of this
article |
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Decide to
Decide |
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Paper itself is not the problem. Paper is a symptom of
a problem. Every time you ask one of the questions below
without making a reply - a Decision- and then taking
appropriate action, you have left some unsettled business.
Postpone a few of the decisions, and a new pile is
born.
Four Questions to Ask About Every Piece of
Paper
1. Do I really need to keep it?
2. Where
should I keep it?
3. How long should I keep it?
4. How
can I find it?
Each of these questions requires
making a decision. Buy many people run into trouble here. Why
are these decisions so difficult for us to make? There are two
major reasons - lack of information.
- Adapted from
"Taming the Paper Tiger," Barbara
Hemphill.
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Integrity is
the cornerstone of our business |
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Cornerstone Commercial Mortgage specializes in commercial
real estate finance. We act as mortgage consultants, focusing
on providing the appropriate financing solutions for each
client. We work with investors and developers on all product
types from land loans to permanent loans providing the best
financing option available.
John P. Lloyd,
President/Owner
Phone: (619) 293-3919
Cell: (702)
379-3468
Email: john.lloyd@cmlv.net
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About Cornerstone |
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Quote of the Month |
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I don't know what your destiny will be, but one thing I
know: the only ones among you who will be really happy are
those who have sought and found how to serve.
Albert
Schweitzer |
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