Trulia wins my heart

I received a Build-a-Bear today with a Trulia button on it. It also has a squeeze hand which when pressed says "You are trulia wonderful" - well that's probably incorrect, but it is close to what is says. The bear was quickly absconded by my daughter. So, I only heard the phrase once. The note christened my a centenarian - I guess I answered over 100 questions on Trulia Voices. Well Trulia, I am listening. If I get to 200 do I get a trip to Las Vegas, perhaps the Wynn Hotel or I'd settle for the Bellagio. $200 worth of gaming chips too. That would be very, very nice:-)

Silicon Valley Rental Rates Climbing

I keep seeing emails through our company intranet asking for rental houses. People are relocating into the valley and looking for high end rental homes. Actually, not high end, just decently located, good condition homes near the work areas of Menlo Park, Palo Alto, Mountain View, Los Altos and Sunnyvale. No issue paying $3,000 to $4,000 per month for a clean 3 and 2. It's not dot com by any means. It's just a strong valley.

Commercial Loan Rates

Ballpark rates from last week for portfolio lenders are given here; 25 year am, possible 30 on newer property, some due in 10, others due in 25 or 30. Some sources will go to 185 bps as margin. Some will underwrite newer properties to 1.15 DCR, otherwise 1.20. I would need property information to develop a no-prepay option, 30 due in 10, fixed for 5 then rolling to another fixed for the second 5 years; this option typically at 1.25 DCR, probably in the range 6.6 to 7.25%.



Program
Index
Index
Rate
Margin
Rates as of
8/14/2007

3 Year Fixed
3 Yr Treasury CMT
4.49%
2.00%
6.49%



5 Year Fixed
5 Yr Treasury CMT
4.57%
2.00%
6.57%



7 Year Fixed
7 Yr Treasury CMT
4.65%
2.00%
6.65%



10 Year Fixed
10 Yr Treasury CMT
4.78%
2.00%
6.78%



15 Year Fixed
10 Yr Treasury CMT
4.78%
2.00%
6.78%

From Dave Singleton of Investors Trust Mortgage Corporation

If you want excellent commercial-investment loan service, call Dave at 831-245-6603.