Live Streaming Coverage of REBarCamp Denver from Event Sponsor BrokerIPTV

LIVE COVERAGE AND INFORMATIVE INTERVIEWS FROM BROKERIPTV.COM

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Rebarcamp denver 2009

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Posted on May 19, 2009 06:27:29 by Blog Author Mark.Eibner http://www.brokeriptv.com/rebarcampdenver
 
The disappearance of down payment assistance

no down payment

BrokerIPTV: Today we are talking with Chip Allen branch manager with Lakewood Residential Mortgage a division of Universal Lending, welcome of the show.

Chip Allen: Good to be here Dan.

BrokerIPTV: Alright, let's get into mortgages. Some standards that people should be thinking about that that they are going to need to qualify for to get a loan. Whether it's the first time buyer, a second time buyer, for instance you can't get by these days without a down payment anymore.

Chip Allen: Dan, it's pretty tough without a down payment. We still have some pretty good none seller funded down payment assistance programs, good examples of that are CHAC and HOAP. These are people with lower incomes but the good ol' days of seller funded down payment assistance at this point is gone. It may be coming back, HUD doesn't particularly care for the program's understandably a lot of people in Congress do. I personally think with seller funded down payment assistance this can be a very good program to help move a lot of the inventory with some common sense requirements. <watch video>

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Posted on November 21, 2008 11:58:55 by Blog Author Mark.Eibner http://www.brokeriptv.com/chip-allen-lakewood-residential-mortgage-down-payment-assistance
 
Larry Simpson on Denver's real estate market and the economy

BrokerIPTV: We are talking with Larry Simpson today, former owner of Fuller Towne and Country Properties and real estate broker. Larry, welcome to the show.

Larry Simpson: Oh, thank you for inviting me.

BrokerIPTV: All right. This is not an easy economy for anybody. It doesn't matter if you are a real estate broker.

Larry Simpson: Yeah.

BrokerIPTV: But are you worried about the market and are you worried about being a real estate broker in this economy?

Larry Simpson: I am and I am actually primarily worried about all those folks that I sold homes to over the past couple of years that are having a very, very difficult time making it in today's economy. They are struggling to sell their... to resell their homes, that they are having job problems or it is just that it is a very tough situation and the sooner that we can put together something in Washington and Wall Street the better. I am very concerned about this.

BrokerIPTV: Obviously we all had limited knowledge on the outside looking in and what was being negotiated in Washington, but were you in favor of the bail out plan?

Larry Simpson: Well, you know, I am like most people. You know, you only know that what you can see on the news or read in the Wall Street Journal, but it appears that there was no other option. I am not in favor of that kind of a policy, but by the same token it looked like this was a once in a lifetime catastrophic situation that had to be dealt with.

BrokerIPTV: How does the economy recover in the real estate market from here? I mean what's the recipe you think? I mean you are not an economist, but you have an opinion.

Larry Simpson: Right. Right. Well, my opinion is that our numbers in Denver are far better than the majority of the United States. Denver is a great place to live. We are still having people relocate to Denver even in this market. I would say that Denver is going to fair better than the majority of the country and the key to it is lower levels of inventory. It is the age old issue of supply and demand. We don't need to build anymore for a while and we certainly don't need to be putting your house on the market if there is any way to avoid it at this time. It's a supply and demand issue and when that gets more in balance, I think we will be on the road to recovery.

BrokerIPTV: And if you are a realtor in this market, if you were still employing all those 150, what do you tell a broker to survive?

Larry Simpson: Well, I am currently still responsible for helping out with the sales meetings and I meet with brokers on a daily basis. Right now it is basically you know pull back on your expenses, don't be you know spending any money unnecessarily, sharpen up your marketing campaign and make sure that you are well diversified. This is... we are a small, niche player in the high end for the most part and that part of the market is really just in the past few months has really slowed down. I have encouraged everyone to actively pursue other price ranges and other areas that they may not normally see themselves working in, but diversity is the key in this market.

BrokerIPTV: How about a forecast for '09?

Larry Simpson: Flat. I am forecasting flat. All our numbers that we are putting together is going to be relatively flat. We are going to see some surge. I don't think the election is going to have as much to do with it as I think the lawmakers getting back to work and putting the next, whether they call it a stimulus package or a bail out or whatever it is, when they get that put together, when they get this housing bill resolved, there is... when that all comes together, I think you are going to see some relaxed interest rates, lower interest rates and relaxed lending standards again, not to the way they were, reckless, but at least relaxed from where they are today and we will see I think an uptake in sales.

BrokerIPTV: Great information.

Larry Simpson: Well, thank you for having me.

BrokerIPTV: Thanks so much. Appreciate it.

Larry Simpson: All right.




Posted on October 31, 2008 12:05:29 by Blog Author Mark.Eibner http://www.brokeriptv.com/larry-simpson-fuller-sothebys-denver-real-estate-economy
 
Market Conditions will make us stronger Says Fuller's Greg Morris

BrokerIPTV: Today we are talking with Greg Morris, CEO of Fuller & Company Commercial Real Estate. Greg, welcome back. Love to have you.

Greg Morris: Thanks Dan.

BrokerIPTV: We were joking on the phone that you know you always keep up with everything, you are right on top of it. You are a news guy and you on vacation in September and we have the worst credit crisis beginning[Phonetic] maybe 50 years. That had to be incredibly frustrating for someone like you.

Greg Morris: I would like to take full responsibility for the crash [laughter] [Voice Cross Over] it was interesting to watch it from afar.

BrokerIPTV: Your thoughts on the turmoil that we have seen in the last month?

Greg Morris: Well, I think you know, what we are seeing is a deleveraging at every level within the economy; on a personal level, you are going to see people with lot less debt, more savings; at a corporate level, lot less leverage and I think that's going to be a healthy thing frankly. If we look back at what has happened, we frankly were too leveraged and we were anticipating and planning on too much growth that at some point was going to stop and that's what we saw.

BrokerIPTV: How about the response? Were you a guy that was in favor of this bail out?

Greg Morris: I think to answer that question, you have to look at what the alternatives were. I mean there were not very many alternatives and if you compare what we are seeing today to the great depression of the 1930s, what happened back then of course we did not have the FDIC, so you didn't have a safety net; #2 and most importantly, you didn't have any liquidity put into the marketplace and as comparison now we are going to see now 700 billion dollars of liquidity put into the system and that's going to be healthy and one thing I think people have to remember is that 700 billion dollars relative to a 14 trillion dollar economy is only about 5%. So, it's significant, but it is not going to end the world.

BrokerIPTV: I stopped watching the market on a daily basis for obvious reasons and stress level because you are watching one day you are down 500, you are up 600, you are down 200, you are up a 100. Your take on what's going on there?

Greg Morris: Oh, I think it's right back to what I originally said about the deleveraging and taking stock prices from where they were which were probably unrealistic. These companies frankly were not worth what they were trading at and now the sell off has brought it down to a more realistic level. One interesting fact that we need to take a look at is I think a positive sign is, let's take IBM for example, their stock has dropped 25% in the last 60-90 days. Does that mean they are 25% less of a company? The answer is no and so what you are seeing now these big US large cap companies buying your stock back where they are saying, "Hey, this is a value. Our company did not devalue by this much. It is just being pulled down by the tide of the rest of the market."

BrokerIPTV: All right. So, the average citizen is saying how long is this going to take to recover? What is it going to take for things to kind of stabilize and level off and your answer would be...?

Greg Morris: If I had the answer to that I would not be...

BrokerIPTV: [laughs]

Greg Morris: Sitting here with you right now.

BrokerIPTV: Right. How about an opinion?

Greg Morris: Well, my opinion is we are going to need confidence built back into the system, both at a consumer level and a global level and that's just going to take time. I think the things that the federal government are doing right now with the liquidity they are adding and some of the fundamentals we are seeing moving forward are positive, I think we are going to see a lot more regulation in the system which is probably not a bad thing. We probably got away from regulating some of these financial institutions and so, it is going to take some time, but if you want a spot answer from me, I think a year from now we are going to be going on and things are going to be much better; I think in 2010 we will be fully out of this thing.

BrokerIPTV: That's what I like to hear.

Greg Morris: All right.

BrokerIPTV: Thank you. Appreciate it.

Greg Morris: Sure.

 

 




Posted on October 31, 2008 10:56:01 by Blog Author Mark.Eibner http://www.brokeriptv.com/greg-morris-fuller-and-company-economy-credit-crisis
 
Greg Morris-state of the market for Denver commercial real estate Q3-2008

Denver Commercial Real Estate

BrokerIPTV: Today we are talking with Greg Morris, CEO of Fuller & Company Commercial Real Estate. Greg, thanks for being with us. What is happening in the midst of this economy with commercial real estate? We have heard plenty about what's happening with residential. Can you give us an update? Are there... is there anything moving on your side?

Greg Morris: Well, there is, but not to the extent that we have seen in the past. The biggest fundamental problem is the lack of lending, which in turn causes a real slow down and inability of buyers to purchase these properties and certainly on the high end institutional investment side, it is absolutely dead. Also, the residential land market is real quiet right now. <watch video>

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Posted on October 31, 2008 07:58:40 by Blog Author Mark.Eibner http://www.brokeriptv.com/greg-morris-market-denver-commercial-real-estate