Archive for December, 2009

An Exchange of Ideas

Monday, December 28th, 2009

So my family and I arrived in South Lake Tahoe today at the invitation of family friends and like many times and many places around the Bay Area as we assembled after dinner, it became an exchange of ideas. I got to share with the group the progress I’ve made so far this year as I’ve gotten whole-heartedly into my  blog and really pushed myself to look at “the practice” of real estate in a whole new way. As we move technologically forward, the field will continue changing and I plan on being an innovator. It has certainly changed over the last 19 years since I started and I’m excited about how technology will creatively change it going forward.

I’m working on a new logo and website which will launch in the next month and I’ll keep you posted on that. In the interim, I’ll post events and market observations along with my thoughts on what’s happening here in our City.

I can tell you that the normal exit we see in December happened much earlier than is usual. The Tuesday Brokers’ Tour list dropped faster than I ever remember it following Thanksgiving. That could have been due to Thanksgiving falling later than it has and there only being three weeks between Thanksgiving and Christmas but the issues with lending and appraisal are still present in the market. While The Urban Land Institute 2010 Trends Report says that the new year will present “generational buying opportunities” it also says that the credit markets will remain constricted and those opportunities will only be available for those with cash. As far as I can tell this is true for both residential and commercial markets.

More to come….

Lance

Happy Holidays….

Wednesday, December 23rd, 2009

[youtube=http://www.youtube.com/watch?v=FpWfqRcrVC4&hl=en&fs=1]

Happy Holidays……

All the Best,

Lance

A 1031 Exchange Update

Saturday, December 19th, 2009

[youtube=http://www.youtube.com/watch?v=4NJN0PTeB0A&hl=en&fs=1]We were fortunate to have Leonard Spoto of Asset Exchange give us a presentation on how exchanges are being effectively used in the current real estate environment. I hope you enjoy this presentation as much as I did.

All the Best,

Lance

Sites and Sounds of Art Basel Miami

Thursday, December 17th, 2009

[youtube=http://www.youtube.com/watch?v=eP23pt-RFDI&hl=en&fs=1]Real Estate and art have frequently been intertwined as many who are interested in one also have an interest for the other. Art Basel Miami presented an interesting backdrop to my visit as I attended the opening night party with Vilma Dwake, my Miami real estate contact. Here are some of the displays we saw at galleries from around the world. Enjoy!

All the Best,

Lance

Real Estate Investor Update on Miami

Sunday, December 13th, 2009

[youtube=http://www.youtube.com/watch?v=qD8y7QU9HIY&hl=en&fs=1]Miami has been all over the news as one of the poster “children” for boom-and-bust major cities. I’m still reading about it in articles that continue to speak as though they have a “handle” on what the situation is there. I went to Miami to meet with my FIABCI colleague, Vilma Dwake, of Skyline International Realty. Vilma introduced me to a colleague of hers who works on the development side of real estate, Mario Kroeff. Mario was very informative.

He gave us some very interesting information from someone who is “in the trenches” and knows what the current status is. You can watch our conversation in the video piece. I was somewhat surprised to learn that all the empty towers have been purchased by vulture funds that are sitting on the inventory waiting for the market to improve. This will doom any individual owner for years to come as Mario points out the funds can always release inventory at slightly below whatever the prevailing market level. Another unknown to me is the interior build-out situation. Many of the towers that went into foreclosure were unfinished on the interior so the banks hired outside contractors to finish out the interior. This will probably create “issues” for years to come for those home owners associations. A word to the wise…before you buy in Miami I would recommend calling Vilma to have an advocate who knows the market.

All the Best,

Lance

Visiting a San Francisco Gallery at Art Miami

Thursday, December 10th, 2009

[youtube=http://www.youtube.com/watch?v=3iyRTDOZAyM&hl=en&fs=1]While I was visiting Miami to meet with real estate contacts, I had the opportunity to drop in on Art Basel and Art Miami. I was lucky to connect with Ramen and Wendi of San Francisco’s Frey Norris Gallery and had the opportunity to visit their exhibit.

Their were numerous representatives of our City there in Miami checking out the art and the real estate. Stay tuned for my next posting will answer your questions about the Miami real estate scene.

All the Best,

Lance