I Survived Real Estate 2008

I SURVIVED REAL ESTATE 2008

This event was about solutions for our ailing real estate industry. Eight industry experts from different real estate sectors converged to discuss how we got here, where we’re going, and how we move forward together and prosper in the coming year. This was a rare opportunity to hear how leadership from the Realtors, builders, investors, mortgage industry, investors, auctioneers and service providers each would approach and solve issues in the current California and national real estate market.

The event officially kicked off on June 21st with the first interview prepping the audience for the live event on The Norris Group Real Estate Radio Show.

Get to know the expert panelists by listening to their radio show interviews and then watch the complete program on Google Video below. There are three ways to listen to the pre-event radio interviews:

Part 1 – Event introduction, introduction of sponsors, reason for the event, intro to Komen for the Cure, Stewart McQue from Komen.

Part2 – Thanks to the Platinum Sponsors who made it all possible, Bruce Norris introduction, Bruce Norris talks about why this event was important.

Part 3 – Introduction of Christopher Thornberg, Christopher Thornberg presentation.

Part 4 – Last part of the Christopher Thornberg presentation, introduction of Rick Sharga from RealtyTrac, Rick Sharga’s presentation.

Part 5 – Rick Sharga from RealtyTrac continues his presentation.

Part 6 – Bruce introduces Philip Tirone from the 7 Steps to a 720 Credit Score and The Mortgage Equity Group, Philip describes how mortgage companies have caught on to some poor lending practices, Philip describes solutions for consumers and investors.

Part 7 – Bruce introduces Annemaria Allen from the Compliance Group, Annemaria is representing the California Mortgage Brokers Association, Annemaria covers the industry yesterday, today and tomorrow.

Part 8 – Bruce introduces Richard Lambros who is the CEO of the Builders Industry Association of Southern California. Richard covers the current state of the building industry, how the building industry will affect employment, homes as infrastructure not just homes, how the builders are adjusting, the big difference between homes of yesterday versus those of today, when the building will start to boom again.

Part 9 – Bruce introduces the Executive Vice President of the California Association of Realtors. Joel Singer. Joel discusses the myth versus the reality of the market, the differences between the downturns, how we’ve hit bottom of sales, the huge price declines, and the adjustment process and how this is very different from any other downturn.

Part 10 – Joel Singer continues his presentation and ends by saying that good investors are going to be able to make a difference. Joel also warns investors not to assume that investors should expect the same kind of explosive growth we say before. Bruce introduces Tommy Williams who is now past President of the National Auctioneers Association. Tommy offers a very innovative solution that benefits Realtors, consumers, auctioneers, and mortgage professionals.

Part 11 – Bruce talks about solutions he’s come up with for the current market. He talks about some things that got us here, the tightening of loan standards, examples of 20 houses and the enormous hit in price the lenders took, three ways to move forward.

Part 12 – Bruce discusses four solutions to help the market become healthier including the return of the 203k program for investors, Fannie Mae and Freddie Mac changing their loan policies towards investors, the coming issues with Option-Arm adjustments, a moratorium on due on sales clauses, why the last downturn wasn’t as bad because of simple assumptions, bringing simple assumptions back, removing HUD’s 90 day seasoning requirements.

Part 13 – Bruce shows exactly what investors bring to a neighborhood when they fix up homes, the assumption that investors commit fraud because of a fast turn around, HR3221 and what a better solution might be.

Part 14 – Tommy Williams and Elite Auctions performs a few auctions to raise money for the Orange County Affiliate of the Susan G. Komen Foundation, Tommy sells lunch tickets with Bruce and also a vacation package graciously donated by Pechanga Resort and Casino.

Part 15 – After the intermission, it’s time for the panel discussion!

Part 16 – This part of the panel discussion is extremely important. Several dangerous ramifications are brought up about HR3221. Tommy, Bruce, and Philip discuss the ramifications of loan modifications and adjustments of principle. Christopher discusses the financial markets and what we need to look for.

Part 17 – Panel discussion continues