Realty Times - Housing Affordability Reaches 20 Year High

Realty Times - Housing Affordability Reaches 20 Year High

Well, Realty Times just highlighted the fact that has been know for quite some time. That the real estate market today is unlike any other before, and it is a great time to buy!

However, with credit being so tight, employment being uncertain, and the volatility of the globally intertwined economy, consumer confidence needs to increase. It is a fascinating event, low interest rates and low property values, but almost no action on the consumer front. What is going to be the catalyst for people to view the economy differently?

Please share your thoughts...

I feel that it is going to take years before confidence is restored. I see two things occurring:

1). So much time is going to pass by that people will be tired of sitting on the sidelines and finally make that leap of faith to purchase once again. They will take the attitude of, "why not", "what else do I have to lose", and/ or "I'm tired of waiting"; people will just decide to move on.

2). Some type of global event takes place to jump start peoples' attitudes. What that event is can be anything really.

Those are just my predictions, my thoughts, but I am only one person, and I would really like to hear other peoples' thoughts and opinions too.

Scott.

Realty Times - Eight Reasons to "SOI"

Realty Times - Eight Reasons to "SOI"

Times are tough, and it seems that everyone is doing the same WRONG thing: 1). Send out emails and hope to get a response, 2). Fiddle with Facebook and waste half a day, 3). Wine. With the real estate market the way that it is, the need to get back to the basics is very prevalent.

When things are going great, and the industry (any industry) has momentum, it is easy to get caught up in the excitement and let good business practices slide. It seems that people are more forgiving when things are going great, rather than when things are going horrible. Why is that?

When we practice good business, and consistently carry that model in all markets, it becomes second nature, and a brand! A brand is the single most important item to a business besides customers and product. A brand carries confidence, a brand carries trust, a brand carries familiarity, a brand carries a following of loyal customers, and if we are lucky, a brand can stand on its own, but I digress.

The reason I share this article from Realty Times is that it touches on the the Sphere of Influence (SOI). The SOI is a back to basics practice that we all forget about. Who better to help in tough times then the friends and family members that we know and love. This practice is affordable, saves time, fun, and good for business to name a few. Do yourself a favor, read the article, reassess your business practices, and get back to the basics.

Scott.

California Bonds Put On Hold

A recent article by the Department of Housing and Community Development (HCD) discusses the current bond hold or moratorium that is in place during the contemplation of Jerry Brown's new budgetary policy.

(http://www.hcd.ca.gov/fa/pmib/BondPauseMemo_0211.pdf)

The projects that will be affected by this hold are the following:

• MHP – Multifamily Housing Program 

• MHP-SH - Multifamily Housing Program Supportive Housing Component 

• HY - Homeless Youth 

• GHI - Governor’s Homeless Initiative 

• CalHome Development Project Loan 

• Housing Related Parks

This is an interesting time in California's history, not only with the large amount of delinquent home ownership, but also with the large amount of debt that looms over the California economy.  This is the 800 pound gorilla on our backs.

I feel that their needs to be some serious tightening of California's purse strings.  JFK had it right, "Ask not what your country can do for you, but ask what you can do for your country."  Californians need to start asking what they can do for California, and not what California can do for them. 

January CA Budget Talking Points

I recently found myself in possession of a document titled "January Budget Talking Points".  The document was produced by the League of California Cities in response to Jerry Brown's budgetary remarks to cut redevelopment money form California cities.  Below are some of the points that you may find interesting:

• Californians have repeatedly voted to make sure that local funds remain local.  In November the voters approved Proposition 22, once again confirming they want those funds to pay for services and programs in their communities.  (61% of voters supported Prop 22, a constitutional amendment that "Prohibits the state from borrowing or taking funds used for transportation, redevelopment, or local government projects and services.")
• Redevelopment and and enterprise zones are the states' biggest job creation.  They revitalize depressed areas, spur job growth and taxes, and promote the kind of infill development encouraged by recent state policies.
• According to the California Redevelopment Association and the State Building and Construction Trades Council of California, Gov. Brown's budget would:
• Kill 300,000 jobs a year provided by redevelopment projects.
• Encourage sprawl development, and increase greenhouse gas emissions in the future.
• Deprive the state and local agencies of $2 Billion in new revenues from these projects.

These were just a few talking points from the League of California Cities.  I hope that you enjoyed.

Scott.