We just returned from another wonderful trip to Scottsdale, Arizona for the Barrett-Jackson Auto Auction where we were again the premier provider of Private Storage Condominium Communities. One of the most frequent asked questions this year was, "How are people paying for their GarageTown unit with banks being so tight on lending right now?" I wanted to address this as it has come up even when the banks were being a slight bit more lenient.
The majority of our buyers purchase with cash. The typical buyer might consider financing as an option to reduce their overhead but we have smart owners and they want the immediate as well as long term benefits of buying in cash. We still have people financing right now to purchase their units but we have seen a slowing in home equity loans as a means of obtaining funds.
Overall it's been our priveledge to provide a product that is unique to the public. People need and want what we have, it's just a matter of making sure it's the right fit for them.
Have a wonderful day, we have several more large shows that we will be at, and don't miss our presentation at the 2009 Inside Self Storage World Expo in Las Vegas, Nevada at the Venitian on the future of Condo Storage this January 26th-29th.
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