Two weeks ago Don attended the Tenant in Common Association (TICA) 3 day conference in Las Vegas. This conference was focused on the TIC industry, which is generally comprised of investors who do IRS tax deferred 1031 exchanges into large, institutional grade commercial properties. General forum sessions consisted of economists attempting to read the “tea leaves” of our economy, credit crunch issues, volatility in the financial markets, and the like. Read the rest of this article »

The Wall Street Journal had an interesting article buried on page A6 this morning. Sarah and Todd Palin reported income last year (AGI) of $166,000. In 2006 they reported $128,000.

John and Cindy McCain spent $270,000 for household help. Hmmmm…..

The Palins gave $3,325 to charity last year on their income. Joe and Jill Biden reported $320,000 (AGI) last year, and gave $995 to charity. But I understand – it’s expensive living in Washington.

I (Leslie) was showing property to a client last weekend, but when I tried to close and lock the front door, the outside door knob loosened and I heard a loud crash inside – the door knob fell off! What do you do when the door knob just falls off?

Fortunately, there was a dead bolt which I locked, and I tried calling the Realtor but his mailbox was full!

Just another day in the life of a Realtor!

Don and I have been in real estate for 30 years or so and have “seen it all” – or so I thought. An REO listing came on the market in Camarillo a few weeks back close to a listing I have and so we checked it out. Walking along the side of the home toward the back yard, neatly placed at the corner of the home, was a cemetery headstone with “Mother” and dates…

Was it a “real” headstone?!? Why is “Mother” still there? Was she “ever” there? Who knows? But now I’ve seen it all!

Agents hate ‘em. Buyers get frustrated. Sellers get angry, scared, and ultimately, resigned. But for many price levels (especially entry level), short pays make up much of the available inventory these days and everyone is learning how to deal with them. So – what’s the deal with short pays? Why all this angst? Read the rest of this article »

Don’s been invited to speak to the monthly meeting of the Santa Barbara/Ventura chapter of the American Association of Individual Investors (www.aaii.com) this Thursday, at the Pierpont Inn. He’ll be speaking on “How to Spot Value and Benefit From the Current Real Estate Crisis”. To find out more about this great group and their quest for greater investor knowledge, visit www.aaii.com/calendar!

Wow – what an afternoon! Who says the real estate market is “dead”? We did an open house yesterday for our new listing at 1891 Harvest in Camarillo. Yes, it’s a cute 4+2 home in a great area of Mission Oaks, but we were surprised at the turnout, and even more surprised at who was looking for a home to buy.

The first 4 or 5 “looky lou’s” were looking as investors, then no more for the rest of the afternoon (that seemed unique). But that seemed to us that if investors are out there actively looking for value, then: 1) home price points are starting to look attractive to these folks, and 2) they must think prices will some day head back up again (or why would they be buying?).

But the big surprise was that almost all of the remaining 25 or so parties that came were 1) first time buyers and 2) they didn’t fit the stereotype of a first time buyer. They were different age demographics, marital status and so forth. What fun to see excitement at the prospect of a first home!

It was a hot afternoon – temperature wise, but also with the crowds that came through.

Check out this interesting article in the Wall Street Journal talking about trading up, doubling down, or helping your kids: Three Ways to Play the Battered Housing Market.