OT: Overdue gratitude…Mr. sdrealtor

[Coronita]

I’ve been swapped doing a bunch of things at the same time. And I had it coming since it was completely my doing. I always end up overcommiting and end up scrambling to finish everything. So this is really overdue.

I just wanted to say thanks to sdrealtor for putting up with me for the past several months in my quest for being a pigglord in SD. The sort of on again, off again, on again… “Wait, I can’t do it now because I’m going to be out of commission, oh wait I’m back, and I want to look here, no here, no here. Wait, is that’s suppose to be that way. Can I squeeze this future? Any news yet? Any news yet? Any news yet? How about now? How about now? Am I low balling? Am I high balling? What are my chances? What’s the cash flow? What if I do this? How about the rent on craigslist? Too much? Too little? What’s the worst case scenario? What’s the status? What’s the status? Should I finance this? Well, that looks like crap? That looks ok, but wrongly priced? What do you think about this? What’s going on in escrow. Why is the seller’s escrow agent doing that? panic panic panic. Ok you contacted them and straightened things out..Thanks…Argh!”

Anyway, one of the most ethical if not the most ethicial, responsive, patient, thorough, professional person that I’ve had the pleasure of working with…..Couldn’t have made things happen without your help dude. Thank you…

[Anonymous]

Although I’ve never met him, I’ve seen enough of his online persona to conclude that he’s likely a stand-up guy.

The recent commendations I’ve read here confirm it in my book.

But I will continue to poke fun. Because being a jerk comes so naturally to me, and Realtors are just easy targets.

[rent4now]

So what did ya end up getting for a rental?

[UCGal]

Good piece of data.

[sdrealtor]

Again my pleasure and I feel like I owe you equal thanks. I had put the deal together for another client who got cold feet on what I thought was a great deal. I was fortunate to have you ready to jump into his shoes and help me get the transaction closed.

When reading your post I was thinking how do people really find a good agent they can trust. There are so many agent claiming to be #1, agents who come referred with high regards and beloved internet bloggers. The reality is there is no way to look back at their individual transactions and see how many of their clients lost homes because they were over sold or bought things they should have. No way to determine if the appreciation on one agents sales are better than market averages. I do have one relatively full proof way to evaluate an agent because it is the ultimate measure of their skill. It is pretty damn contraversial of me to post this but you know me well enough that i dont care about that. I will warn you in advance that it will also embarress a very very high percentage of agents but its really comes down to a few simple questions.

What real estate do you personally own right now and have owned over the last 10 years? What are the loan balances on your personal real estate holdings? If the person is underwater or lost homes or lots of money on their own purchases, you need to ask yourself how good is that person? If they cant take care of their own money how can you relie on them to take care of yours?

Almost without exception, the finest agents I know are in great shape with lots of equity. They havent given in to the temptation of refinancing out hundreds of thousands in the name luxury cars, investment properties or even college for their kids. I cant tell you how many agents claiming to be experts in places like Carmel Valley, La Jolla and Scripps Ranch are living in places like North Esconodido in houses that they refied out $400K above their purchase price with option arm loans. I know of highly regarded agents foolish enough to buy shacks in Oceanside during the bubble for $700K that are now worth less than half that. I’m sure they could all come up with good excuses for what happened but……really? really?

So if you want to look under the hood, find out what your agents personal real estate holdings look like. It will be very enlightening in most cases.

[sdrealtor]

BTW pri
Keep it coming. Its all in good fun and even if its not I can take it. Fortunately we have a great group here who can fight like cats and dogs but at the end of the day have respect for a worthy opponent. At least most of us…

[CDMA ENG]

Look at sdr… Getting his props!

CE

Certinaly a patient fellow indeed. Hopefully we can catch up soon sdr.

[sdduuuude]

[quote=pri_dk]But I will continue to poke fun. Because being a jerk comes so naturally to me, and Realtors are just easy targets.[/quote]

This gave me a good laugh.

[saiine]

I’ll add to the love fest and second Flu. Dave was awesome to work with.

[carlsbadworker]

So now the housing price could finally start to accelerate its drop again since flu has just bought?

Reuters just had an article on the second foreclosure wave and the release of shadow inventory:
http://www.reuters.com/article/2012/04/04/us-foreclosure-idUSBRE83319E20120404

[Coronita]

[quote=carlsbadworker]So now the housing price could finally start to accelerate its drop again since flu has just bought?

Reuters just had an article on the second foreclosure wave and the release of shadow inventory:
http://www.reuters.com/article/2012/04/04/us-foreclosure-idUSBRE83319E20120404%5B/quote%5D

I’m still waiting for the flood of bank owned homes to come on the market. I would love to upgrade my primary, but I haven’t seen anything that remotely would be a “good deal” for me to move… The 92130 pickings look pretty pathetic, especially for SFH…

http://www.sdlookup.com/Real_Estate-Carmel_Valley-Homes_For_Sale-92130?srtcol=13

But that said, it really depends on who you want to believe in…

http://money.cnn.com/2011/03/15/real_estate/rent_rise_housing/index.htm

I’m not buying we’ll see rents rise 31% by 2015, but I wouldn’t mind either….We’ll see.

Me thinks the media, while maybe have a grasp of what is going on, kinda distorts the degree of the issue. For example, yes there might be a bigger renter pool. But I’m not so sure that it’s soo bad, we’d see double digit rental price increases.

NEW YORK (CNNMoney) — Renters beware: Double-digit rent hikes may be coming soon.

Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years.

“The demand for rental housing has already started to increase,” said Peggy Alford, president of Rent.com. “Young people are starting to get rid of their roommates and move out of their parent’s basements.”

By 2012, she predicts the vacancy rate will hover at a mere 5%. And with fewer units on the market, prices will explode.

Rent hikes have averaged less than 1% a year over the past decade, according to Commerce Department statistics, adjusted for inflation. Now, Alford expects rents to spike 7% or so in each of the next two years — to a national average that will top $800 per month.

In the hottest rental markets, the increases will likely top the 10% mark annually for the next couple of years, according to Lesley Deutch of John Burns Real Estate Consulting. In San Diego, she anticipates rents will rise more than 31% by 2015. In Seattle rents will climb 29% over that period; and in Boston, they may jump between 25% and 30%.

…..

The other interesting data point locally that I would like to figure out is that…Builders are starting to build rental properties again locally. There’s that large luxury apartment being built in end of MM Blvd and 15. And in my own neck of woods, the owner of a big lot is starting construction of a multi-tenant apartment complex after several years of being inactive. I believe a 300 unit luxury complex.. Why is that? Makes me wonder. Makes me think some folks have a better pulse on what’s going on.

[SD Realtor]

I think nationally we will see pricing pressure as the lenders have settled the robo signing suits and can now pick up the foreclosure pace. However I do not think we will see much of an effect on San Diego.

FLU I think you will do fine with your rental. Upgrading the primary however, well I don’t think that will come for cheap. CV is smokin this spring.

[The-Shoveler]

Saw this, May be this has something to do with it.

Interesting almost all SoCal with the exception of Ventura are on the top ten in population growth.

So much for the theory that everyone is fleeing SoCal in droves.

The 10 Counties with the Largest Numeric Increase from April 1, 2010, to July 1, 2011

1. Harris, Texas 88,452
2. Los Angeles, Calif. 70,451
3. Maricopa, Ariz. 63,127
4. Miami-Dade, Fla. 58,331
5. Riverside, Calif. 49,979
6. Dallas, Texas 47,875
7. Orange, Calif. 45,513
8. San Diego, Calif. 44,756
9. Bexar, Texas 41,376
10. Tarrant, Texas 40,776

[an]

[quote=flu]I’m still waiting for the flood of bank owned homes to come on the market.[/quote]
I’m waiting for the flood as well. Maybe now that you just bought, the flood will finally come. Maybe we’ll see 2/2 condos in MM for $120k after all.

[Author]

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