Duane’s Real Estate Video August 18
| “It’s a great day to be in real estate! Duane Beisner here… sales manager and a sales representative for ERA real estate. | ||
| Duane’s Quote of the Day Let me be a little kinder, let me be a little blinder to the faults of those around me. Edgar A. Guest | |
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Duane’s Joke of the Day
A man enters his local bar holding a frog and an iguana. He sets them down on the bar and says to the bartender, "I bet you $1000 that my frog here can sing any song you can think of." "Ok," says the bartender. "How 'bout ' Blue Moon'?" The man whispers something to the frog, and the frog starts singing blue moon. "That's amazing," says the bartender as he slaps down $1000. "I'll bet ya another $1000 that my iguana here can do that to." "Ok, I can believe a frog, but not an iguana. You're on. Have him sing the Star Spangled Banner." The man whispers something to the iguana and it sings the Star Spangled Banner. As the bartender hands over another $1000, a businessman comes up and says, "I just saw that and I was amazed. I want to buy your iguana for $100,000." The man said ok, and he exchanged the iguana for the money and the businessman left. The bartender said "What are you nuts?! You could have made millions with that iguana!" The man said "Oh, the iguana can't sing. The frog's a ventriloquist." Duane’s Business Tip of the Day
Cherry picking is an important part of business. Be careful what business you choose to do; what investments you make; who you hire and what resources you select.
Think about it.
Darwin Award of the Day
The chef at a hotel in Switzerland lost a finger in a meat-cutting machine and submitted a claim to his insurance company. The company expecting negligence sent out one of its men to have a look for himself. He tried the machine and he also lost a finger. The chef's claim was approved.
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Duane’s Social Commentary
Who gets the car?
It started out simple enough. There was a car (the economy). And a ditch (the recession). Republicans had been driving the car (were in power) for eight years. It went into the ditch. And now that Democrats have dug the car out (won power and passed a bunch of economic recovery policies), the Republicans want back the keys (power). What? The democrats have run the car dry – there is no gas, no oil, no transmission fluid and no water! The Dem’s chopped the car up and sold it for parts! Now the car needs to be totally rebuilt.
The first time President Barack Obama used the metaphor at a Democratic fundraiser in April, he spent exactly four sentences on it: “And yet, after driving our economy into the ditch, they decided to stand on the side of the road and watch us while we pulled it out of the ditch,” Obama said at the Los Angeles event for Sen. Barbara Boxer of California. “They asked, ‘Why haven't you pulled it out fast enough?’ ‘I noticed there's, like, a little scratch there in the fender. Why didn't you do something about that?’”
It has since become the Mr. Potato Head of campaign stump speech metaphors.
The president keeps expanding on it. This week, as he repeated it at fundraisers across the country, it continued to balloon into several paragraphs and with bells and whistles tacked on in all directions.
Obama changes features around. He introduces new characters. He adds new props. The other day he decided Republicans were sipping Slurpees as they watched Democrats dig out the car. Mr President, you want us to take you seriously when you say things like this? Come on!
There’s been a lot of mud in the ditch. It’s been all over Democrats as they push and shove, sometimes with their shoulders. In some speeches Obama has the Democrats wearing boots. Other times they’re wearing galoshes. He’s added bugs and sweat to the scene. There are sore backs and “huffing and puffing.” His family and political friends get cameos. And while he’s insistent that Republicans can’t drive, he’s offered for them to hop in the back seat.
Obama even introduced his 12-year-old daughter Malia to the ditch. It was during a Carnahan fundraiser that same day in Kansas City. “I don't have a teenager yet, but in a couple years, Malia is going to be able to drive, right?” Obama said. “That’s what happens with teenagers, right, they go get the learner's permit, they — now, if your teenager drives into a ditch, your car, bangs it up, you've got to pay a lot of money to get it out, what do you do? You take the keys away.” What makes you think you are able to dive this car, Mr President? The majority of Americans feel that you are not qualified to drive it any more.
With his rhetorical Christmas tree now festooned with flies, bugs, Slurpees, backaches, back-seat drivers, car accidents, sweat, dust and galoshes, who knows how Obama’s ditch will grow from now until November?
But there’s one question that will remain unanswered for another three months: Who gets the car?
| Duane’s Real Estate News Home Sales Slump in July Southern California sees a 21.4% drop in home sales from 2009 but tax credits skew the figures. Southland home sales fell dramatically in July as federal tax credits for buyers expired, yet the median home price declined only slightly from June. Observers say buyers' rush to take advantage of the tax benefits pushed forward sales that would otherwise have taken place later in the summer, creating a statistical drop that didn't signify sudden underlying market weakness. When averaged, home sales have been fairly flat in recent months, said Gerd-Ulf Krueger, principal economist at HousingEcon.com. "The lack of progress on the economic front is just having a very problematic impact on the psychological situation of a lot of American consumers," Krueger said. "They are very cranky." The median price for all new and resale single-family homes, condominiums and town homes in July in Southern California was $295,000, according to MDA DataQuick of San Diego. Although that was a 1.6% drop from June, it represented a 10% increase from a year earlier, the real estate research firm said Tuesday. Year-over-year price increases have occurred throughout 2010, with the exception of a 1% dip in April. But such advances will be harder to come by in future months, DataQuick analyst Andrew LePage said. Median prices — the point at which half the homes sold for more and half for less — were depressed early last year by a glut of distressed sales in cheaper inland markets, then moved up in later months as sales activity spread to wealthier neighborhoods. A total of 18,946 homes were sold in the six-county region, a 20.6% drop from the previous month and a decline of 21.4% from July 2009, DataQuick said. "It was to be expected," LePage said, because many sales closed in May and June after buyers rushed to take advantage of a federal tax credit of up to $8,000. About 34% of resales of existing homes involved foreclosed properties, compared with 33% in June and 43.4% in July 2009 in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties. Foreclosure sales have been flat for the last few months, LePage said. Home prices will also be mostly flat in the months to come, perhaps with a slight upward trend, Krueger predicted. "That won't change until we hit the wall in terms of supply," he said. Krueger found some encouragement in the number of homes being snapped up by investors. Almost 22% of July home sales were to absentee owners who intend to resell or rent them to tenants. "There is pent-up demand for speculative product," he said, and even a shortage of foreclosure-related bargain properties on the market as far as investors are concerned. The lure of loans at rock-bottom interest rates, though, still isn't strong enough to overcome weak consumer confidence, said broker Syd Leibovitch, president of Rodeo Realty Inc. in Los Angeles. "Interest rates are at 1950s levels," he said. "I am surprised that hasn't spurred more activity." Inventory on the market is almost double what it was in February, Leibovitch estimated. "Agents are no longer complaining they have nothing to show. There are lots of choices now." |
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I need to say this again… this market right now is the BEST Buyer’s Market you or I will ever see in our lifetime.
If you or anyone who you may know is looking to buy a home or sell a home anywhere in the world, let me know. I can help.
If you are looking to make a move to real estate as a career, please shoot me an email or give me a call.
This is Duane signing off. Happy Trails to you! As always, I am proud to be an American. You can email me at duane.beisner@era.com... Or visit my website at www.rejedi.com.
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