Latest posts by Rob Chrisman (see all)
- Jan. 12: AE, LO, and management job; reverse mortgage trends: NY proposal, HECM purchase program, & upcoming conference - January 12, 2017
- Jan. 11: Correspondent & LO jobs, lead gen system; the ceaseless lender & investor FHA, VA, Fannie, Freddie program changes - January 11, 2017
- Jan. 10: DTC, LO, compliance jobs; vendor updates of note; training this week on cybersecurity, LO sales; FHA’s premium cut helpful for some - January 10, 2017
As the Spring Selling Season begins, inventory remains tight, especially close to urban areas. The supply of homes is the lowest since 2005.
3 inspiring stories of Hispanic Real Estate Moguls.
One-sixth of the United States population of 310 million is Hispanic. In the field of commercial real estate, Hispanic men represent only 2.9 percent of the senior executive sector. Bisnow has published an article celebrating three stories of Hispanic real estate moguls.
Rodrigo López is founder of Nebraska-based AmeriSphere Multifamily Finance and executive chairman for NorthMarq Capital Finance, one of the nation’s largest commercial mortgage banking companies. His current success is testament to the young man from Columbia who could speak no English. His personal journey as a hardworking, self-starter is an amazing read.
Albert M. Berriz and his family fled their home country of Columbia in January 1959 and headed for Miami. Crediting his dad, who worked 100 plus hours a week at any job available, allowing Albert and his siblings to get an education. He is the CEO and co-owner of Ann Arbor, MI-based McKinley, a real estate investment company with annual revenue of $500M and 1,600 full-time employees.
As chairman and CEO of the Related Group, Florida’s leading developer, Jorge Pérez has been working at the forefront of South Florida’s commercial real estate industry for more than 30 years. His firm, one of the nation’s largest Hispanic-owned businesses, has more than 50 projects in the pipeline and a development portfolio in excess of $15B. When asked about his favorite project, Jorge is quick to answer: “My favorite one is my next one,” he says, laughing. But if his history is any indication, Pérez is less businessman than Renaissance Man.
Metro home prices on the rise:
According to the National Association of Realtors, Home prices rose in 81 percent of U.S. metropolitan areas in the fourth quarter, with the pace of gains accelerating even as sales slowed from earlier in 2015. The median price of a previously owned single family home increased from a year earlier in 145 of the 179 markets measured.
Price gains across the nation are being bolstered by strengthening employment, low borrowing costs and buyer competition for a limited supply of properties. There were 1.79 million previously owned homes for sale in December, down 3.8 percent from a year earlier. At the current pace of deals, it would take 3.9 months to sell those houses, the lowest since January 2005.
“Even with slightly cooling demand, the unshakable trend of inadequate supply in relation to the overall pool of prospective buyers inflicted upward pressure on home prices in several metro areas,” Lawrence Yun, the Realtors group’s chief economist, said in Wednesday’s report. “As a result, homeownership continues to be out of reach for a number of qualified buyers in the top job producing, but costliest, parts of the country – especially on the West Coast and parts of the South.”
The national median single-family home price was $222,700 in the fourth quarter, up 6.9 percent from a year earlier, according to the report. The most expensive markets in the fourth quarter were all in the West, led by San Jose, Calif., with a median of $940,000. The median was $781,600 in San Francisco and $716,600 in Honolulu.
The cheapest areas were Youngstown, Ohio, with a median of $81,200; Cumberland, Md., with $86,100; and Rockford, Ill., with $87,600.
The Bacon Tree
Two fellows are stuck in the Sonora desert, wandering aimlessly and close to death.
They are close to just lying down and waiting for the inevitable, when all of a sudden… “Hey Jose, do you smell what I smell? It’s bacon I am sure of it.”
“Si, Luis. It smells like bacon to me.”
So, with renewed strength, they struggle up the next sand dune, and there, in the distance, is a tree loaded with bacon. There’s raw bacon, dripping with moisture, there’s fried bacon, back bacon, double smoked bacon – every imaginable kind of cured pig meat.
“Jose! Jose, we is saved. It’s a bacon tree.”
“Luis, are you sure it’s not a mirage? We it’s in the desert don’t forget.”
“Jose when deed you ever hear of a mirage that smell like bacon… it’s no mirage, it’s a bacon tree.”
And with that, Luis races towards the tree. He gets to within 5 yards, Jose following closely behind, when all of a sudden, a machine gun opens up, and Luis is cut down in his tracks. It is clear he is mortally wounded, but, a true friend that he is, he manages to warn Jose with his dying breath.
“Jose, go back man! You was right; it’s not a bacon tree.”
“Luis Luis mi amigo… what is it?”
“Jose, it’s not a bacon tree…it’s, it’s, it’s, it’s a ham bush.”
(Copyright 2016 Chrisman LLC. All rights reserved. Occasional paid job listings do appear. This report or any portion hereof may not be reprinted, sold or redistributed without the written consent of Rob Chrisman. To subscribe please visit www.knowledgeforrealestateagents.com.)