Title Insurance Activity Shows That the Market is Bouncing Back

Equity and debt are also more available than in years past. Banks and life insurance companies seem to be among the most willing lenders. "Willing" means they require real equity based on today's appraisals. Developers we work with are saying that lenders are offering 65/35 to 70/30 percent loan-to-value ratios for viable projects with strong fundamentals. There is available equity from a number of institutions, private equity funds and REITs scouring the market for attractive returns with acceptable levels of risk. The FTSE NAREIT All Equity REITs Index, which covers 120 investment trusts, rose 7.50 percent in the first quarter of 2011. Overall, the retail sector posted total returns of 4.51 percent in this period, led by regional mall REITs, up 6.30 percent, and followed by shopping center REITs, up 2.94 percent. These gains further reflect expectations that fundamentals will continue to improve.