Bob's Broker Buzz

Mortgage Deductions

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I know that <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">NAR's position is that the mortgage interest deduction is vital to the stability of the American housing market and economy and is opposing any future plan that modifies or excludes the deductibility of mortgage interest. Some of you may have heard of people that realtors and builder’s refer to as  NIMBY’S.  Those are people that oppose growth of any kind and always show up at council meeting and planning commissions speaking out against any type of a housing or commercial development.  We refer to those people as NIMBY’S (not in my back yard).  I have always felt that to blanket all growth as bad, as in environment, traffic, air quality and whatever reason you can come up just doesn’t make sense. Today most responsible citizens and communities want intelligent growth because as we all know growth is good whether it’s Fontana, Los Angeles or even Aspen, CO. <o:p></o:p></span></div>
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<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">I think NAR’S position on mortgage deduction is wrong. It’s just as wrong as saying all growth is bad.  I think when it comes to fixing our financial problems that no one group or organization should say that they’re programs or deductions shouldn’t be touched. If the real estate community were to make a effort to help the national budget as every organization should, than we need to help also. I support  not allowing second home deductions and placing a cap on primary home mortgage deductions up to $500,000. <o:p></o:p></span></div>
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<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Everybody has their sacred cow and reasons why theirs shouldn’t be touched. But if we’re ever going to move forward and put this countries house in order we all need to do some belt tightening. <o:p></o:p></span></div>
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<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Best, Bob<o:p></o:p></span></div>
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I know that NAR's position is that the mortgage interest deduction is vital to the stability of the American housing market and e...

Broker Sales

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<a href="http://3.bp.blogspot.com/-h9sqsc-H-5Q/U1lPjyMOj9I/AAAAAAAAA2k/i7_scFnoTmU/s1600/RENAISSANCE-PLAN-3-EXTERIOR-web4.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="212" src="http://3.bp.blogspot.com/-h9sqsc-H-5Q/U1lPjyMOj9I/AAAAAAAAA2k/i7_scFnoTmU/s1600/RENAISSANCE-PLAN-3-EXTERIOR-web4.jpg" width="320" /></a><span style="font-family: Calibri;">I enjoy keeping track of how many sales are brokered sales within the new home communities associated with the Lewis Company.  Everyone has their different reasons in keeping track, I track brokered sales because I have the benefit of emphasizing the importance of realtors to my company.  Whether or not I played any part of bringing the realtor to the community is inconsequential, I still take credit for it...Ha! </span></div>
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<span style="font-family: Calibri;">Broker sales in an average market at a new home community typically average between 40-60%.  But in today’s market and with the lack of resale inventory you are seeing some unique percentages.  The following numbers are from the beginning of this week:</span></div>
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<span style="font-family: Calibri;"> Avellino in North Fontana has two neighborhoods.  Renaissance starts in the high $300K and Classics in low $300k. </span></div>
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<span style="font-family: Calibri;">Renaissance 11 sold/10 brokered</span></div>
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<span style="font-family: Calibri;">Classics         26 sold/12 brokered</span></div>
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<span style="font-family: Calibri;">Harvest is at 6th and Archibald in Rancho, prices start in the mid $300K.</span></div>
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<span style="font-family: Calibri;">22 sold/18 brokered</span></div>
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<span style="font-family: Calibri;">New home sales are arguably the easiest transaction in real estate. With the lack of standard inventory and the complexity of short sales do your client and yourself a favor; Start your tour with new homes because eventually your client will get there with or without you. </span></div>
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<span style="color: #1f497d;"><o:p><span style="color: black;">Best, Bob</span></o:p></span></div>
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I enjoy keeping track of how many sales are brokered sales within the new home communities associated with the Lewis Company. Everyone has...

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