What do these items have in common? Well, a lot. I recently met with a general parter of a prospective Real Estate syndication. This general partner said he has investors willing to throw money at him, but having integrity, he didn’t want to accept the money because he wasn’t sure if he could obtain the […]
Banks are Idiots – Wells Fargo Prefers You Screw Them, Than Be Paid Back.
March 5, 2012 By
Today I got to speak with Larry and Sean at Wells Fargo. This was my second day of three way calls with my client on the line, trying to get somewhere in an attempt to “Do the right thing” and save Wells Fargo $20,000, or more. Jenny & Jim bought their home about 10 years […]
The Value of Trusted Advisors OR sometimes there really is a free lunch.
January 30, 2012 By
Recently, I purchased a new printer. Now those of you that know me, know that I do a lot of research before making a purchase, especially a tech purchase. Even though I am a real estate broker, I like technology. So I have chosen to build, maintain and implement all of our office technology. Herein […]
Recent Economic Reads
January 14, 2012 By
I know it is pretty pathetic. Saturday night and I am blogging. Even worse, I am writing about a couple of good economic books that I have read lately. There are a couple of words you wouldn’t expect to see in the same sentence, “Economic book” & “Good”. The three books that I have read lately are: Exorbitant Privilege: […]
Ben Bernanke – Between a rock and a hard place in Housing Market
January 7, 2012 By
Ben Bernanke is intentionally trying to devalue the US dollar to prop up the housing market. While I don’t agree with him doing this, I do understand why he is trying to destroy the dollar. Deflation by itself isn’t really a problem. I know that the word deflation is always associated with the Great Depression, […]
The Coming Bottom in Real Estate
March 15, 2011 By
In 1996, Penny and I had dinner at the “upper crusty” Canyon Club in Newport Beach with her great Uncle Bill. The conversation flowed to real estate and at some point great Uncle Bill emphatically stated that “It’s time to buy”. Not only was he right, he nailed it. You see, uncle Bill had been […]
Bank Repo’s and Short Sales – How Much do they Really Affect Prices?
November 2, 2010 By
It’s no secret that short sales and bank repos sell for less. These low sales didn’t affect sellers until the advent of the HVCC (Home Valuation Code of Conduct). This law, enacted by Andrew Cuomo, is an attempt to mitigate appraisal fraud. However, laws to regulate morality or integrity often do neither. If you want […]
Market Showing Signs of a Bottom
May 1, 2008 By
Recap – Last Year – A sharp correction In the 2nd half of 2007 market activity and prices fell off a cliff. (see www.LBRE.com for previous newsletters). The correction was so abrupt and dramatic, it ranked as the largest year over year price drop in California real estate history. (See Case-Shiller S&P Stats next page) […]
Home Prices Drop Double Digits in only 4 Months!
March 1, 2008 By
Credit Crunch – the Straw that Broke the Buyer’s Back. It was the perfect storm. A seasonally quiet time coupled with the now infamous “credit crunch”, quoted as the worst credit crunch in the last 20 years by Bear Stearns president, James Cayne. As the credit crunch started to unfold, it was unclear what would […]
Market Cycles
February 28, 2005 By
Quite a few years ago, I had dinner with my Great Uncle. His professional career was spent in Real Estate. He was involved in the sale of many tracts throughout L.A. Co. and had done quite well purchasing Real Estate. So when he proclaimed, “It is time to buy”, during our early 1996 dinner, I […]
Long Beach Real Estate Market Returns to Normal
July 29, 2004 By
Starting about 3 months ago, the real estate market started to change significantly. Inventory started to climb, albeit above abnormally low levels. Multiple offers became a thing of the past, and buyers calls dropped off significantly. One month does not make a trend, but three months later, we have the same lackluster market. I have […]
Spring Prices Explode to Upside
April 29, 2004 By
Every December and January the Real Estate market slows with holiday glee. Buyers are busy with holiday shopping and parties, and sellers aren’t excited about being on the market during the holidays. With a 2 month seasonal hiatus, I often wonder what the spring will bring. This year I have been blown away at the […]
Building a Custom Home in Long Beach
September 28, 2003 By
In the process of building a custom home, I’ve learned a few things, uncovered some myths, and confirmed some of my original beliefs. Most importantly, I have learned that a good team of specialists is the solution to most every problem. I correctly anticipated the level of complexity in building our first custom home. Yet […]