News & trendsMarket conditions

It’s easier to get a loan on a large office building than a home

by Joe Zekas on 12/26/12

Before Matt Garrison left the residential real estate business to wholesale electric power and invest in commercial properties, he was one of our “go to guys” when we wanted an accurate take on what was happening in the local markets.

We looked forward to Matt’s frequent TV appearances, and we’re glad to see he’s still being called on for market expertise by CNBC. Watch his recent appearance in the above video.

According to Matt, the bottom of the housing market is behind us, especially in the best locations, but there are headwinds, including mortgage financing. “In terms of getting a conventional loan on a single-family home, it’s a very difficult process right now. I just went through it myself. We buy office buildings in Chicago, and it’s easier to get a loan on a 200,000 square foot office building than it is on my personal residence.”

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