State of the Market – A Top is NOT in sight…..

Lately I have had quite a few appointments where sellers were concerned about the future of real estate prices. With homes hitting new highs, they question the sustain ability of the market. My answer has been that I don’t think there is anything to worry about, as long as interest rates remain stable and the […]

Real Estate Continues to Rally, But for How Long?

The current Real Estate market in Long Beach continues to be strong. However the climb back to 2006’s peak values from 2011’s bottom, may be running up against a little bit of resistance as this year unfolds. My outlook is positive, but there are concerns on the horizon. The History of Long Beach Home Prices […]

Buying With a Partner When All is NOT Equal

When you buy a home with a partner or spouse and everything is split 50/50, it is easy. But what happens when what you bring to the table is different? How do you make it equitable for both parties when contributions are not equal? This morning I spoke to a couple that are looking to […]

Household Hazardous Waste Disposal Times and Locations

Times and Locations for Household Hazardous Waste Click for Flyer – Household Hazardous Waste Disposal The County of Los Angeles has hazardous waste pick up the second Saturday of each month from 9am to 2pm. The location for this drop off is 2755 California Avenue, Signal Hill 90755. The above link is flyer with complete […]

A Tepid Recovery

This recovery is very unlike the past two recoveries of 1985 and 1995. In both previous recoveries, prices climbed to new highs and powered forward for 5 – 10 years. The two previous price moves forward were 1985 – 1990 and 1996 – 2006. In both previous recoveries, it was like a light switch was […]

The Future of Real Estate Prices

The investment world has no shortage of commentary and media on the state of the economy. CNBC runs 24/7 with analysts prognosticating the next boom or bust. Most larger stocks have analysts that follow with baited breath each new earnings report. Real Estate on the other hand, receives no such treatment or following. I just […]

2012 Prices up as much as 5+%, Inventory Low, Prices Poised to Rise!

1995 was a pivotal year. Prices stopped going down. It had been 5 long years since prices peaked in 1989/90. Each year seemed to drag on with no end in sight. The fact that prices weren’t going down anymore seemed like little consolation because the market still felt dour, unexciting. Maybe prices weren’t going down […]

Barron’s Real Estate Article Correct! – But Missing Risk of Higher Rates

Last month Barron’s cover story was about the housing market. The cover predicts that home prices will be headed up 7% in the next 3 years. This prediction almost seems a day late a dollar short, as in August I wrote that Los Altos homes price were up $30,000 year over year, which translates to […]

Tips for the New Landlord

Many moons ago, when I was 23 years old, I purchased my first duplex. The back unit was vacant and I was in a rush to get it rented. Being young and foolish, I just assumed that people were responsible and paid their bills. To make a long story short, one year and lots of […]

Los Altos Homes Up $30,000+, Year over Year!

Yesterday I had a client call me asking if I could help him calculate what his home was worth every year for the last 5 years. While I couldn’t say what his home was worth, I could run a quick analysis across the entire neighborhood of Los Altos on a yearly basis for home similar to […]

Organic Recovery or Fabricated?

If your personal financial household was experiencing a rough time, and you dipped into your savings or used credit cards to shore up your finances, make purchases or take trips, would you feel good about your newfound economic recovery? Probably not. But if you were the U.S. Bureau of Labor and Statistics you would be […]

Lack of Inventory, a Problem for Agents Looking for Open Houses.

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 […]

What are the Secrets to getting YOUR offer accepted?

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 […]

Barron’s Says Housing Market “Ready to Rebound”

 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 […]

Investors With Cash, the Federal Reserve & the Misallocation of Capital

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.

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.

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

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

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

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?

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

 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!

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

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

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

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

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 […]