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Purchase Price V Interest Rate

Today's buyer is facing a conundrum of epic proportions. It is obvious to most that in many areas of Southern California, prices have flattened out. Luxury sales have slowed dramatically. And, all indicators are that sometime in the near future, we will see a slight adjustment in home values. For that reason, many buyers are thinking that the wise move would be to hold off their purchase. And, most likely get the home they want for less money. And, it is true that historically this would have been a good strategy to employ. Today, I am not so sure. In fact, I am telling my friends and family that today, may be the very best time to buy. That there may not be better time to purchase in their lifetime. Let me explain. While it is true that home values are at near record highs for most of the South-land. It is also true that interest rates are still in the high three percent range for a thirty year fixed rate mortgage. And while property values may drop slightly sometime in the ...
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Bulk Sales Revisited

This past week, I made the trek to Sacramento for the California Association of REALTORS® business meetings. And once again the hot topic was the bulk sale proposal from Freddie and Fannie.  You may remember that a few months ago I told you about Lance Martin (REALTOR® extraordinaire) who almost single handedly led the leadership of CAR to make the decision to lobby against this program. While CAR has sent emissaries to Washington to address the issue, and spent copious amounts of money in print ads in an attempt to rally the public support in opposition of bulk sales in California, it appears that we could in fact be fighting a losing battle. I say this because of the view on the horizon (let me explain). Seven years ago, we were in an incredible real estate market, prices were rising quickly. The average buyer could afford an above average home. And, there was nothing but blue skies all around us. But on the horizon, the companies who had always been there when the mark...
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Lessons of 911

Today (September 11, 2011) as I write this I am preparing to board a plane bound for Hawaii. Part vacation and part work this trip in and of itself is a statement to those who would bring America to her knees if they could. We as a country have never settled for defeat. And, I pray we never will. Ten years after the last plane fell from the sky. Ten years from the time the last tower fell. Ten years from the time the last hero breathed his (or her) last breath. We continue to remember those who we lost, and those who were saved. As I await takeoff I cannot get enough of the television coverage marking this historic date in a most appropriate manner. And, front and center in the celebration is arguably the most famous piece of real estate in America, Ground Zero. Ten years ago almost to the minute this hallowed ground having just seen her twin monuments to capitalism fall, and the land now intrinsically holding little value.  In the world of commercial development the value ...
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