For each of the SMA you can see which areas are growing and which areas are declining. 

@Sean MacDonaldI think you summed it up in your observation of your clients, it's very typical here in the valley that the number of transactions will decline right before an election and then those buyers just like your clients will get back in and the number of transactions will pick back up in the months following the election.

My advice would be to politely decline and stick with your current strategy.

Please let me know if you have any questions.November 2024 Market UpdateOur market updates over the past 2 years have hopefully prepared you for the declining market that we are currently experiencing.

Market Fluctuations: If property values decline, the equity in the collateralized properties may decrease, potentially leading to issues with loan terms or the borrower’s financial standing.5.

However, if interest rates continue to decline, I might consider refinancing some of them to improve my liquidity position. 

Declining Interest Rates: When market interest rates drop, refinancing can reduce monthly payments, thus improving cash flow and enhancing the DSCR.3.

There simply won't be any widespread adoption of Bitcoin as a replacement for fiat currency until the volatility declines to that approaching fiat currencies.  

Distressed notes have been on the decline for a few years, as we have dug ourselves out of the real estate crash.  

Commercial MF decline is already impacting, in my market, non-commercial MF.  5) not everyone has the ability, desire and/or time for active investments. 6) syndications provide easy means to diversify   This includes geographical, asset class, and value add.