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Wednesday, February 15, 2017

• Quick facts:
1. 55% of home buyers and renters now indicate they are willing to pay more for a home or apartment that allows them to get to work without using a vehicle.
2. Between 1995 and 2006 home ownership rates jumped from 65% to almost 70%. This increase is seen largely as a by-product of subprime lending practices which eventually resulted in a major drop in values and a significant increase in foreclosure activity. In 1965 when home ownership first began being monitored the rate was just under 63%; in contrast the rate at the end of 2016 was just under 64%.
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Friday, July 15, 2016

I am amazed how many times in my lifetime I have seen the past repeat itself. Beginning in the 1970’s, I have witnessed one form of financial meltdown after another, each occurring almost precisely 10 years after the last. I once had a wonderful professor who explained that the seemingly inevitable repetition of the past was based on numerous, very different factors, but with two factors appearing in virtually every case.

Monday, May 16, 2016

Let me admit to one very important fact…I am old. At least I assume I am since I am over 60. In any event, much of what I know about the cyclical nature of real estate is not based on any scholarly papers I have researched and presented, but rather it is due to the fact that in my professional career I have seen four different downturns in real estate and from that I have gained what is known as real world experience. In other words, I am old, but my memory still works.

Monday, April 25, 2016

This edition of the Cornerstone Report contains a number of short items of interest to those of you who toil daily to make a living in real estate. This is a departure from our typical article covering one subject in great depth. We hope you enjoy this new approach.

Wednesday, April 20, 2016

Recently I had the opportunity to work on a Class Action case. The case settled, and there are confidentiality agreements for both sides, so I cannot reveal any details. I will summarize the allegations and findings, as well as the scope of work performed.
I should say also that before being hired, I was interviewed, and vetted. Every reference provided, was contacted, as well as a records check and background check.

Wednesday, April 13, 2016

It has been awhile since we updated the appraisal community on developments in the wave of lawsuits filed by Llano Financing Group LLC (Llano). Our last update was issued on February 18, 2016 so here is what has transpired since then.

Friday, March 11, 2016

If you work as a real estate broker or agent long enough, you will eventually get dragged into a lawsuit over some kind of issue the buyer has with the property he/she purchased. If the lawsuit is even remotely related to questions about the adequacy of the seller’s disclosures or some other issue involving the condition of one or more components of the home in question, you may find your salvation comes from an unusual source…the buyer’s home inspector. Yes, you read that right.

Friday, March 11, 2016

If you work as a real estate broker or agent long enough, you will eventually get dragged into a lawsuit over some kind of issue the buyer has with the property he/she purchased. If the lawsuit is even remotely related to questions about the adequacy of the seller’s disclosures or some other issue involving the condition of one or more components of the home in question, you may find your salvation comes from an unusual source…the buyer’s home inspector. Yes, you read that right.

Thursday, February 18, 2016

Most of you already know the background on Llano and its wave of appraiser litigation so we won’t spend a lot of time repeating past details here. Let’s just say that karma appears to be alive and well in 2016. For those of you who are not aware of what Llano has been doing, we’d recommend you go to www.frea.com and search past blog posts for information on Heritage Pacific, Savant Claims Management, Llano, and the Ganter brothers. It won’t take time for you to get up to speed.

Tuesday, December 29, 2015

Let’s say you are a publicly traded company integrally involved in the residential mortgage business as a lender, wholesaler, correspondent, warehouse provider, and servicer. Let’s also say that not too long ago your company had a near death experience…as in your stock price in November of 2008 hit $00.05 per share (yes, that is 5 cents).