[bearishgurl]

[quote=clearfund]Bearish – Yes, I am a commercial guy but not sure where you get “large multi-family complexes” from my post as there was no mention of that. However, if you bothered to read the end of my post I stated that educating oneself on how commercial works will serve you well on residential investments too.

Obviously there are good deals to be had in the residential world as many smart people have been very successful.[/quote]

Yes, I did see that part. I am not familiar with the ins and outs of comm’l RE leases and have done little transactional work (biz formation only). I agree that having this knowledge is important if one has the capital to invest in this market. Perhaps I will have a chance in the future to learn about this interesting area from an attorney or law firm.

[bearishgurl]

[quote=clearfund]Bearish – Yes, I am a commercial guy but not sure where you get “large multi-family complexes” from my post as there was no mention of that. However, if you bothered to read the end of my post I stated that educating oneself on how commercial works will serve you well on residential investments too.

Obviously there are good deals to be had in the residential world as many smart people have been very successful.[/quote]

Yes, I did see that part. I am not familiar with the ins and outs of comm’l RE leases and have done little transactional work (biz formation only). I agree that having this knowledge is important if one has the capital to invest in this market. Perhaps I will have a chance in the future to learn about this interesting area from an attorney or law firm.

[bearishgurl]

[quote=clearfund]Bearish – Yes, I am a commercial guy but not sure where you get “large multi-family complexes” from my post as there was no mention of that. However, if you bothered to read the end of my post I stated that educating oneself on how commercial works will serve you well on residential investments too.

Obviously there are good deals to be had in the residential world as many smart people have been very successful.[/quote]

Yes, I did see that part. I am not familiar with the ins and outs of comm’l RE leases and have done little transactional work (biz formation only). I agree that having this knowledge is important if one has the capital to invest in this market. Perhaps I will have a chance in the future to learn about this interesting area from an attorney or law firm.

[bearishgurl]

sdr never indicated the educational level of the agent who mistook sdr’s listing for a property his client had purchased at a trustee’s sale. Perhaps he had a “college degree.” 🙂

[bearishgurl]

sdr never indicated the educational level of the agent who mistook sdr’s listing for a property his client had purchased at a trustee’s sale. Perhaps he had a “college degree.” 🙂

[bearishgurl]

sdr never indicated the educational level of the agent who mistook sdr’s listing for a property his client had purchased at a trustee’s sale. Perhaps he had a “college degree.” 🙂

[bearishgurl]

sdr never indicated the educational level of the agent who mistook sdr’s listing for a property his client had purchased at a trustee’s sale. Perhaps he had a “college degree.” 🙂

[bearishgurl]

sdr never indicated the educational level of the agent who mistook sdr’s listing for a property his client had purchased at a trustee’s sale. Perhaps he had a “college degree.” 🙂

[bearishgurl]

SDR, you must be aware that one CAN’T LEARN the ins and outs of a RE agent/broker job in college classes. A CA public college student can take:

Principles of RE
RE Practice
Escrow
Property Mgmt
CA RE Law
RE Finance
RE Brokerage (some schools)

and possibly a couple of other RE offerings …

I’ve taken six of these classes. They don’t teach you:

– that the local AAA Credit Union now makes purchase/improvement loans under the FHA 203(k) program
– where the high-power lines are
– where the danger of radon exposure is
– which developments are built on landfill or infill
– how to negotiate and structure an offer/counteroffer (depending on seller’s circumstances and market desirability of property
– where to look first for that Starker upleg without wasting your busy client’s time
– which blocks have issues with cracked slabs
– which developments have oil pipelines running underneath
– which developments are situated near a “cancer cluster”
– where to find artifacts and competent craftsman to repair a particular kind of property (i.e. Craftsman) in a particular locale
– where a particular architect’s work abounds
– how to quickly and thoroughly search the condition of a title without purchasing a preliminary title report
– zoning of a particular area
– potential of an area for upzoning in the future
– what’s slated to be built over that hill and when
– attendance boundaries of XYZ public school
– chances of your client’s child getting accepted into that magnet program by February
– status of litigation of ABC HOA
– if a property’s granny flat has been “grandfathered-in”
– if the properties on the street below have an easement on the airspace of the properties situated on the street above it
– doesn’t have at least rudimentary knowledge of home systems (to follow buyer’s inspector around)
– how many calls to police/sheriff that corner grocery has had in the last 3 yrs
– why that subdivision costs 3x as much for trash pickup as an adjacent one

ETC….

An agent who ignorant of these factors (doesn’t know “cold” the answers to the pertinent factors in the area he/she is doing biz in) is NOT serving their clients properly. I don’t care if they possess a Ph.D or JD!

As a principal and especially as a buyer, if my agent didn’t know how to competently do these things and didn’t have this working knowledge about the area I was shopping in, I wouldn’t use him/her. I couldn’t give a r@t’s a$$ whether he/she had a “college degree” … or not.

All this stuff is learned from intimate knowledge gleaned from the intricate study of a niche market area and “years on the street,” NOT “classwork.”

Compare these “street smarts” (or lack thereof) with a freshly-minted attorney (or even an experienced one who doesn’t go to court much or took a case outside of his/her expertise). Nowhere in law school did he/she learn how many exhibits are allowed behind a domestic declaration in SD County, how to properly bind a lodgement for acceptance by the Court, what CA agencies will be triggered by a filed adoption petition and what Judge BBB’s trial rules are in Dept 61. That’s why they hire grunts like me :=]

[bearishgurl]

SDR, you must be aware that one CAN’T LEARN the ins and outs of a RE agent/broker job in college classes. A CA public college student can take:

Principles of RE
RE Practice
Escrow
Property Mgmt
CA RE Law
RE Finance
RE Brokerage (some schools)

and possibly a couple of other RE offerings …

I’ve taken six of these classes. They don’t teach you:

– that the local AAA Credit Union now makes purchase/improvement loans under the FHA 203(k) program
– where the high-power lines are
– where the danger of radon exposure is
– which developments are built on landfill or infill
– how to negotiate and structure an offer/counteroffer (depending on seller’s circumstances and market desirability of property
– where to look first for that Starker upleg without wasting your busy client’s time
– which blocks have issues with cracked slabs
– which developments have oil pipelines running underneath
– which developments are situated near a “cancer cluster”
– where to find artifacts and competent craftsman to repair a particular kind of property (i.e. Craftsman) in a particular locale
– where a particular architect’s work abounds
– how to quickly and thoroughly search the condition of a title without purchasing a preliminary title report
– zoning of a particular area
– potential of an area for upzoning in the future
– what’s slated to be built over that hill and when
– attendance boundaries of XYZ public school
– chances of your client’s child getting accepted into that magnet program by February
– status of litigation of ABC HOA
– if a property’s granny flat has been “grandfathered-in”
– if the properties on the street below have an easement on the airspace of the properties situated on the street above it
– doesn’t have at least rudimentary knowledge of home systems (to follow buyer’s inspector around)
– how many calls to police/sheriff that corner grocery has had in the last 3 yrs
– why that subdivision costs 3x as much for trash pickup as an adjacent one

ETC….

An agent who ignorant of these factors (doesn’t know “cold” the answers to the pertinent factors in the area he/she is doing biz in) is NOT serving their clients properly. I don’t care if they possess a Ph.D or JD!

As a principal and especially as a buyer, if my agent didn’t know how to competently do these things and didn’t have this working knowledge about the area I was shopping in, I wouldn’t use him/her. I couldn’t give a r@t’s a$$ whether he/she had a “college degree” … or not.

All this stuff is learned from intimate knowledge gleaned from the intricate study of a niche market area and “years on the street,” NOT “classwork.”

Compare these “street smarts” (or lack thereof) with a freshly-minted attorney (or even an experienced one who doesn’t go to court much or took a case outside of his/her expertise). Nowhere in law school did he/she learn how many exhibits are allowed behind a domestic declaration in SD County, how to properly bind a lodgement for acceptance by the Court, what CA agencies will be triggered by a filed adoption petition and what Judge BBB’s trial rules are in Dept 61. That’s why they hire grunts like me :=]

[bearishgurl]

SDR, you must be aware that one CAN’T LEARN the ins and outs of a RE agent/broker job in college classes. A CA public college student can take:

Principles of RE
RE Practice
Escrow
Property Mgmt
CA RE Law
RE Finance
RE Brokerage (some schools)

and possibly a couple of other RE offerings …

I’ve taken six of these classes. They don’t teach you:

– that the local AAA Credit Union now makes purchase/improvement loans under the FHA 203(k) program
– where the high-power lines are
– where the danger of radon exposure is
– which developments are built on landfill or infill
– how to negotiate and structure an offer/counteroffer (depending on seller’s circumstances and market desirability of property
– where to look first for that Starker upleg without wasting your busy client’s time
– which blocks have issues with cracked slabs
– which developments have oil pipelines running underneath
– which developments are situated near a “cancer cluster”
– where to find artifacts and competent craftsman to repair a particular kind of property (i.e. Craftsman) in a particular locale
– where a particular architect’s work abounds
– how to quickly and thoroughly search the condition of a title without purchasing a preliminary title report
– zoning of a particular area
– potential of an area for upzoning in the future
– what’s slated to be built over that hill and when
– attendance boundaries of XYZ public school
– chances of your client’s child getting accepted into that magnet program by February
– status of litigation of ABC HOA
– if a property’s granny flat has been “grandfathered-in”
– if the properties on the street below have an easement on the airspace of the properties situated on the street above it
– doesn’t have at least rudimentary knowledge of home systems (to follow buyer’s inspector around)
– how many calls to police/sheriff that corner grocery has had in the last 3 yrs
– why that subdivision costs 3x as much for trash pickup as an adjacent one

ETC….

An agent who ignorant of these factors (doesn’t know “cold” the answers to the pertinent factors in the area he/she is doing biz in) is NOT serving their clients properly. I don’t care if they possess a Ph.D or JD!

As a principal and especially as a buyer, if my agent didn’t know how to competently do these things and didn’t have this working knowledge about the area I was shopping in, I wouldn’t use him/her. I couldn’t give a r@t’s a$$ whether he/she had a “college degree” … or not.

All this stuff is learned from intimate knowledge gleaned from the intricate study of a niche market area and “years on the street,” NOT “classwork.”

Compare these “street smarts” (or lack thereof) with a freshly-minted attorney (or even an experienced one who doesn’t go to court much or took a case outside of his/her expertise). Nowhere in law school did he/she learn how many exhibits are allowed behind a domestic declaration in SD County, how to properly bind a lodgement for acceptance by the Court, what CA agencies will be triggered by a filed adoption petition and what Judge BBB’s trial rules are in Dept 61. That’s why they hire grunts like me :=]

[bearishgurl]

SDR, you must be aware that one CAN’T LEARN the ins and outs of a RE agent/broker job in college classes. A CA public college student can take:

Principles of RE
RE Practice
Escrow
Property Mgmt
CA RE Law
RE Finance
RE Brokerage (some schools)

and possibly a couple of other RE offerings …

I’ve taken six of these classes. They don’t teach you:

– that the local AAA Credit Union now makes purchase/improvement loans under the FHA 203(k) program
– where the high-power lines are
– where the danger of radon exposure is
– which developments are built on landfill or infill
– how to negotiate and structure an offer/counteroffer (depending on seller’s circumstances and market desirability of property
– where to look first for that Starker upleg without wasting your busy client’s time
– which blocks have issues with cracked slabs
– which developments have oil pipelines running underneath
– which developments are situated near a “cancer cluster”
– where to find artifacts and competent craftsman to repair a particular kind of property (i.e. Craftsman) in a particular locale
– where a particular architect’s work abounds
– how to quickly and thoroughly search the condition of a title without purchasing a preliminary title report
– zoning of a particular area
– potential of an area for upzoning in the future
– what’s slated to be built over that hill and when
– attendance boundaries of XYZ public school
– chances of your client’s child getting accepted into that magnet program by February
– status of litigation of ABC HOA
– if a property’s granny flat has been “grandfathered-in”
– if the properties on the street below have an easement on the airspace of the properties situated on the street above it
– doesn’t have at least rudimentary knowledge of home systems (to follow buyer’s inspector around)
– how many calls to police/sheriff that corner grocery has had in the last 3 yrs
– why that subdivision costs 3x as much for trash pickup as an adjacent one

ETC….

An agent who ignorant of these factors (doesn’t know “cold” the answers to the pertinent factors in the area he/she is doing biz in) is NOT serving their clients properly. I don’t care if they possess a Ph.D or JD!

As a principal and especially as a buyer, if my agent didn’t know how to competently do these things and didn’t have this working knowledge about the area I was shopping in, I wouldn’t use him/her. I couldn’t give a r@t’s a$$ whether he/she had a “college degree” … or not.

All this stuff is learned from intimate knowledge gleaned from the intricate study of a niche market area and “years on the street,” NOT “classwork.”

Compare these “street smarts” (or lack thereof) with a freshly-minted attorney (or even an experienced one who doesn’t go to court much or took a case outside of his/her expertise). Nowhere in law school did he/she learn how many exhibits are allowed behind a domestic declaration in SD County, how to properly bind a lodgement for acceptance by the Court, what CA agencies will be triggered by a filed adoption petition and what Judge BBB’s trial rules are in Dept 61. That’s why they hire grunts like me :=]

[bearishgurl]

SDR, you must be aware that one CAN’T LEARN the ins and outs of a RE agent/broker job in college classes. A CA public college student can take:

Principles of RE
RE Practice
Escrow
Property Mgmt
CA RE Law
RE Finance
RE Brokerage (some schools)

and possibly a couple of other RE offerings …

I’ve taken six of these classes. They don’t teach you:

– that the local AAA Credit Union now makes purchase/improvement loans under the FHA 203(k) program
– where the high-power lines are
– where the danger of radon exposure is
– which developments are built on landfill or infill
– how to negotiate and structure an offer/counteroffer (depending on seller’s circumstances and market desirability of property
– where to look first for that Starker upleg without wasting your busy client’s time
– which blocks have issues with cracked slabs
– which developments have oil pipelines running underneath
– which developments are situated near a “cancer cluster”
– where to find artifacts and competent craftsman to repair a particular kind of property (i.e. Craftsman) in a particular locale
– where a particular architect’s work abounds
– how to quickly and thoroughly search the condition of a title without purchasing a preliminary title report
– zoning of a particular area
– potential of an area for upzoning in the future
– what’s slated to be built over that hill and when
– attendance boundaries of XYZ public school
– chances of your client’s child getting accepted into that magnet program by February
– status of litigation of ABC HOA
– if a property’s granny flat has been “grandfathered-in”
– if the properties on the street below have an easement on the airspace of the properties situated on the street above it
– doesn’t have at least rudimentary knowledge of home systems (to follow buyer’s inspector around)
– how many calls to police/sheriff that corner grocery has had in the last 3 yrs
– why that subdivision costs 3x as much for trash pickup as an adjacent one

ETC….

An agent who ignorant of these factors (doesn’t know “cold” the answers to the pertinent factors in the area he/she is doing biz in) is NOT serving their clients properly. I don’t care if they possess a Ph.D or JD!

As a principal and especially as a buyer, if my agent didn’t know how to competently do these things and didn’t have this working knowledge about the area I was shopping in, I wouldn’t use him/her. I couldn’t give a r@t’s a$$ whether he/she had a “college degree” … or not.

All this stuff is learned from intimate knowledge gleaned from the intricate study of a niche market area and “years on the street,” NOT “classwork.”

Compare these “street smarts” (or lack thereof) with a freshly-minted attorney (or even an experienced one who doesn’t go to court much or took a case outside of his/her expertise). Nowhere in law school did he/she learn how many exhibits are allowed behind a domestic declaration in SD County, how to properly bind a lodgement for acceptance by the Court, what CA agencies will be triggered by a filed adoption petition and what Judge BBB’s trial rules are in Dept 61. That’s why they hire grunts like me :=]

[bearishgurl]

[quote=sdrealtor]We had a very similar TV as that one but we only had the one and we kept it 20 years. That is a major difference. Today TV’s get replaced not because they fail but because something better comes along every couple years. That is what CAR isnt factoring into the equation.[/quote]

I don’t think everyone buys the latest flat screen every two years. Most “lower-income households” can’t get a credit limit high enough to purchase new (expensive) digital electronics. In my experience, when households buy a flat screen, they keep it. If it is a small flat screen, purchased 8+ years ago for $1500+, they retire it to a secondary room and purchase a larger flat screen for the FR or LR. Flat screens have come down in price substantially in the last 8 years. Once a family has all flat screen TV’s in their home or a projection TV they like, they typically don’t buy any more. Most people I know (of ALL income levels) only have ONE HDTV (or none), and, if they own more TV’s than one, the rest are older models. It costs $$ every month to watch HDTV all over the house (even if you own all HDTV’s) because you need a separate (satellite or cable) box for each one to get the HD programming.

Several households in my area do not subscribe to either cable or satellite svc. They are still using “rabbit ears” to get local channels. Some got subsidized digital-transformer boxes when they were on offer a few years ago. My area is a microcosm of county residents. There are many other areas similar to mine in this respect. If you don’t believe me, take a look at the TV’s in some of the $700K and up listings in PL and MH.

We do not yet have buried cable but we can now be serviced by AT&T U-verse w/their “Dish Network” contract (overhead lines and small dish).

I currently have 3 tube TV’s. One is a 32″ HDTV-CRT (circa 2002 [was $1490 w/tax]). I only have ONE cable box (which I recently turned back on) powering the HDTV and I’m very happy with the picture/sound (but would not want to have to move it – it’s very heavy). My other two (tube) TV’s are circa 2001 and 1988. I have no plans to purchase a flat screen TV. And I think I’m probably a typical “Susie Q Public” or female “Joe6P.” :=]

[bearishgurl]

[quote=sdrealtor]We had a very similar TV as that one but we only had the one and we kept it 20 years. That is a major difference. Today TV’s get replaced not because they fail but because something better comes along every couple years. That is what CAR isnt factoring into the equation.[/quote]

I don’t think everyone buys the latest flat screen every two years. Most “lower-income households” can’t get a credit limit high enough to purchase new (expensive) digital electronics. In my experience, when households buy a flat screen, they keep it. If it is a small flat screen, purchased 8+ years ago for $1500+, they retire it to a secondary room and purchase a larger flat screen for the FR or LR. Flat screens have come down in price substantially in the last 8 years. Once a family has all flat screen TV’s in their home or a projection TV they like, they typically don’t buy any more. Most people I know (of ALL income levels) only have ONE HDTV (or none), and, if they own more TV’s than one, the rest are older models. It costs $$ every month to watch HDTV all over the house (even if you own all HDTV’s) because you need a separate (satellite or cable) box for each one to get the HD programming.

Several households in my area do not subscribe to either cable or satellite svc. They are still using “rabbit ears” to get local channels. Some got subsidized digital-transformer boxes when they were on offer a few years ago. My area is a microcosm of county residents. There are many other areas similar to mine in this respect. If you don’t believe me, take a look at the TV’s in some of the $700K and up listings in PL and MH.

We do not yet have buried cable but we can now be serviced by AT&T U-verse w/their “Dish Network” contract (overhead lines and small dish).

I currently have 3 tube TV’s. One is a 32″ HDTV-CRT (circa 2002 [was $1490 w/tax]). I only have ONE cable box (which I recently turned back on) powering the HDTV and I’m very happy with the picture/sound (but would not want to have to move it – it’s very heavy). My other two (tube) TV’s are circa 2001 and 1988. I have no plans to purchase a flat screen TV. And I think I’m probably a typical “Susie Q Public” or female “Joe6P.” :=]

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