Findura did $189 million in commercial sales/finance in 2001; $175 million in investment sales; and $14 million in land production. Like other mortgage banking firms, R.J. Twitty is a correspondent for national and international lenders.
"Our sources are telling us that there are compelling reasons to believe that interest rates should begin a gradual increase, beginning immediately," Findura tells GlobeSt.com. "This theory is reinforced by our client base who are aggressively pursuing the placement of long-term permanent debt, given 10-year Treasury rates at under 5%."
He says underwriting "has been a challenge, especially given the increase in insurance premiums, lagging concessions in the multifamily arena, consolidation of office space and slower job creation."
For example, Findura says, "three years ago, we experienced 40,000 net jobs in the Central Florida market. This number is estimated at 8,000 jobs for 2002, based on reports we are seeing."
However, Findura says, "It sounds worse than it is when compared to dominant cities like Atlanta, which, for the past few years, added 60,000 new jobs, with recent predictions that 2002 will bring about no new jobs."
On his recognition by the Central Florida Real Estate Society, Findura says, "It's a great honor to be recognized by your peers in any industry. But it's a greater honor to be working with them daily on pending deals."
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