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As an individual agent, my personal business does not provide enough statistical data to draw relevant market conclusions. For valid market data I rely upon the Multiple Listing Service. But what experiences I do have, becomes anecdotal evidence. I can then follow up on these anecdotal stories to see if my personal observations are market [...]
You just saw a home. Your excited about the future. You can picture yourself coming home from work to your new home, working in the yard, or in the garage, or preparing dinner for the family. This new home is everything you could want. There is only one problem. Many other buyers feel the same [...]
I just re-read Barron’s cover story from story from two weekends ago. Barron’s is the only paid subscription newspaper I get, in addition they tend to be conservative or on the bearish side of the coin. While I thought the article was quite lacking in substance, their timing I believe is of value. So here [...]
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 [...]
When scanning new listings I use quick rules of thumb. This enables me to know within 20 seconds or less whether a property has the potential to break even, or have a positive cash flow. Is the monthly rent around 75% of the Price (divided by 100)? If this is the case, or close to [...]
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 [...]
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 [...]
829 Lees – Living Room In these video, we look at a home that had been neglected and abused. The owner had let his sons live in the property and rent out rooms to all of the son’s college buddies. We came in and helped the seller maximize the homes value with an interior cosmetic [...]
Last year, we began looking to purchase a piece of income property with a partner. Our search started with the 5+ unit category because this is traditionally where you find the best cash flow. After scouring the market for 6 months, we came across very little inventory, and even less attractive deals. If the Real [...]
There is nothing on the horizon that gives any indication that the market is going to soften. If you are a buyer waiting to purchase, you may have to wait until Leisure World becomes the desired location. So if you need to bite the bullet and purchase a new home, then there are some precautions [...]