Opportunity to Hear Mark Ritchie, CEO of Ritchie Commerical

I had an opportunity to hear Mark Ritchie, CEO of Ritchie Commercial, speak yesterday at the CCIM Silicon Valley District Meeting.

The format of the meeting was that of an interview conducted between Mark and George Pires, the District President. There were lots of questions covering a variety of subjects.

Of course, one of the questions was "how was business?' I guess I'm a little warped on this, but it was actually good to hear that the commercial real estate business has been slow for a lot of other brokers. I don;t feel so bad now.

There was also a question regarding the characteristics of a success broker. Mark said he tried to come up with the "Top 10 Characteristics of a Success Broker", but found that the characteristics varied between brokers.

However, one of the characteristics that Mark felt was extremely important was to have a "turtle shell" or the ability to let bad things that happen during a deal "roll off" your back. I like that idea and really need to develop my "shell", especially during this year.

Your comments are always appreciated. Thanks for reading.

CCIM - CI 102 - Market Analysis for Commercial Investment Real Estate

I don't know about you, but I'm not extremely busy right now. I'm taking the opportunity to study for the Real Estate Broker's exam. I figure I might as well do something to improve myself.

Since I already have my CCIM Designaton I don't need to take this class again. However, if you've already take CI 101 (which is a prerequisite for Ci 102) and you're not too busy, here's an opportunity to take CI 102 - Market Analysis for Commercial Investment Real Estate in Pleasanton. (Click on the title for additional information and to register.)

In this class, you will analyze historical trends and existing data to assess both current and future market conditions that impact real estate decisions. Economic Base Analysis will be introduced and applied throughout the course. You will learn how supply and demand factors impact a market forecast, as well as gain insight into site feasibility, market dynamics and market pricing.

Date :
Feb 2 - 6, 2009

Location:
CarrAmerica Conference Center
4400 Rosewood Drive
Pleasanton, CA 94588

2010 Commercial Real Estate Recovery?

There was a small article in latest issue of the San Jose/Silicon Valley Business Journal (in the Real Estate Digest column) regarding when we might expect an improvement in Commercial Real Estate.

Stan Ross, chairman of the Lusk Center for Real Estate at USC, thinks that there will not be an imminent improvement in the commercial real estate market. He feels that the lack of liquidity in the market as the major obstacle to improvement this year, although he predicts conditions may improve slightly by 4th Quarter 2009.

He doesn't anticipate that the commercial or residential real estate market will start to grow until 2010. (I hope that he's wrong, but fear that he may be right. The lenders I know keep saying that they have money to lend, but you have to have the "right" investment.)

Your comments are always appreciated. Thanks for reading.

Random Thoughts on My Virtual Office

I changed commercial brokerages at the start of the new year, so I have begun to work out of my "virtual" office (actually the spare bedroom downstairs).

It has actually been a pretty easy transition since I had most of the equipment, my laptop, my broadband connection, my laser and ink jet (for color) printers, my cell phone and a fax machine (yes, some of us still use fax machines). I still haven't decided what to do about the phone system (sometimes it's nice to have a land line), but I'll deal with that later.

My new brokerage provided the email address, web site and mailing address, so that made that part of the office transition painless. However, I decided to get an eFax number (I'll let you know how that works out) so I wouldn't have to get 2 phone lines.

I can already see some of the benefits, i.e., no commute. However, I can also see of the disadvantages, i.e., being too close to the kitchen. I plan on occasionally posting on my transition to my virtual office.

Your comments are always appreciated. Thanks for reading.

CCIM Introduction Course Feb 2 - 3

If you're interested in a career in Commercial Real Estate or thinking of moving from Residential Real Estate into Commercial Real Estate, I would recommend that you consider taking this class. (Click on the Title to register.)

If you're a member of either the Santa Clara County Association of Realtors or the Santa Cruz Association of Realtors, discount pricing is available.

TITLE	Introduction to Commercial Real Estate-San Jose
DATE(s)	02/02/2009 (07:30 AM) - 02/03/2009 (05:00 PM)
ADDRESS	Santa Clara County Assn. of Realtors
ADDRESS	1651 N. First Street
CITY	San Jose
STATE	CA
ZIP	95112
DESCRIPTION	The industry’s premier course for new and potential commercial real estate owners, investors, managers and agents. Emphasis on HP-10BII Calculator. Includes luncheon program on New Commerical Leasing Practices. Sponsored by NCalCCIM and Santa Clara County Association of Realtors.
COST	$395 Early Bird Members.

Your comments are always appreciated. Thanks for reading.

NCalCCIM Jan 13th Luncheon, Mentoring & Marketing Meeting

Oops, I almost forgot to post this meeting announcement.

I always try to plug the NCalCCIM meeting because of the networking opportunities and content of the mentoring and luncheon meetings. (Click on the Title to register.)

Location:
Four Points Sheraton
5121 Hopyard Road
Pleasanton, CA 94588

Schedule:
9:00 - 10:30AM
Mentoring Session: Paul Kingsman & Split Second Success
10:30 - 11:30 AM
Marketing Session
12:00 - 1:30 PM
Luncheon Meeting: Dan Lieberman of Horizon Management - Finding Value Add Apartments and Creating the Value

Your comments are always appreciated. Thanks for reading.

CCIM Silicon Valley Meeting Jan 27

Here's a great way to start the New Year. For their first meeting of the year, CCIM Silicon Valley has Mark Ritchie of Ritchie Commercial as their guest speaker. (Please note the new meeting location.)

Meeting Location:
Miller, Morton, Caillat & Nevis, LLP
25 Metro Dr.
7th Floor
San Jose, CA 95110
Free Underground Parking

Itinerary:
8:30 - 9:00 AM Networking Coffee & Pastries @ La Boulanger, 1st Flr.
9:00 - 10:30 AM Meeting on 7th Flr. (Promptly)

To Register:
email George Pires @ georgepires@princetoncap.com

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum Jan 14, 2009

Here's one of the forums that I try to attend. There's a lot of multi-family experience here. I especially like Kari's title for the forum.

Group: Bay Area Apartment Brokers Forum - Established 1986 - (23 Years)

Guest Speaker: Kari Noomen - WaMu - J.P. Morgan Chase - The Noomen Team

Topic: How To Survive The Upcoming Financial Doom!

Date: Wednesday, January 14, 2008 - 8 AM

Place: First American Exchange Company, 1737 North First St., San Jose ---- 4th Floor

Breakfast: Continental Breakfast - no charge - First American Title/Exchange

Chairman: Richard Domich - CB Richard Ellis

Vice Chairman: Keith Suddjian - Cornish & Carey

Membership: Kari Noomen - WaMu - J. P. Morgan Chase

Sponsor: Mary Kay Kennedy - First American Exchange

Note: All present will have an opportunity to present their listings, buyer requirements,

as well as their analysis of current events and market trends that directly effect

the multi-housing (apartment) industry in Silicon Valley and greater Bay Area.

Adjournment: 9:30 AM

Your comments are always appreciated. Thanks for reading.

Better Times Ahead for Tenants?

Just in case you might have missed it in the aftermath of the New Year, the San Jose Mercury (Click on the Title to see the complete article) reported that there is going to be a dramatic shift in the power between Landlords and Tenants.

The power will be moving to the Tenants, marked by rising vacancy rates (especially in the retail areas) and weak to no rent growth. For the Landlords, there will be intense competition, more problems with bankrupt Tenants, reluctant Lenders and little, if any, rent growth.

If you're working with Tenants, this is good news except that you'll probably still be working with unreasonable Landlords. If you're working with Landlords, it's extremely important to make sure that they understand the current environment and remain reasonable.

Your comments are always appreciated. Thanks for reading.