All posts by jd

Real estate broker, civil engineer and general contractor.

Your Business in This Economy, Will it Take a Dive, Survive, or Thrive?

Picture Courtesy of Black Enterprise

by Lisa J. Lehr

Yes, we know. The economy is bad. Recovery may be on the horizon, but no one really knows how close. Or if we can “hold out” till it happens. Yet we can each take some actions to position ourselves in the best possible way to survive a weak economy—and be at the front of the pack when it improves.

Dr. Ivan Misner, founder and chairman of BNI (Business Networking International), the world’s largest business networking organization,says that during an economic downturn “you can actually prosper…while everyone else flounders in fear.” He tells of being at a business mixer in the early 1990s, “right in the middle of a nasty recession.”

As he looked around the room and listened in, he noticed that “while nearly all were commiserating with one another, very few were actually networking and working on seeking new business…,” which, of course, was the purpose of the mixer!

So, while we can’t control the economy, we can control our response to it. Dr. Misner goes on to say, “During the last recession, I watched thousands of businesspeople grow and prosper…because they
consciously made the decision to refuse to participate in a recession. They did so by developing their networking skills and learning how to build their business through word of mouth.”

I’ve heard several people in my contact sphere say they’re refusing to participate in the recession. What if everyone refused to participate? We wouldn’t have a recession!

Dr. Misner concludes, “Don’t let a bad economy be your excuse for failure. Instead, make it your opportunity to succeed. While others are looking at the problems, those of us looking for opportunities
will not only get through a bad economy but will prosper.”

Here are some ideas on ways to find opportunity:

Invite people to meetings of your business or trade group.

Offer to speak at an industry conference.

Send out a mailing.

Begin an e-mail campaign.

Write letters to the editor.

Start a blog.

Submit articles to trade publications and online article sites.

Add an opt-in and an auto-responder series to your website.

If you don’t have a website, get one.

If you need to outsource any of these projects, do it.

Stay in front of potential customers. Whatever line of work you’re in, people still need your product or service. If you’ve made your name familiar to your target audience and established yourself as an expert in your niche, you’ll be the one they go to when they’re ready to buy—instead of your competitors. Your (former) competitors will be the ones commiserating about how the recession of the early 21st century ruined them.

Lisa J. Lehr is a writer and copywriter living in Grass Valley. She
can help you promote your business with a full range of online and
offline marketing pieces. A member of Empire Toastmasters, she’s
available to speak to your business or professional group. Visit her
website www.justrightcopy.com for more information, opt in for the
message series, and receive a free Marketing Guide.


Lisa J. Lehr
I write words that make you money–just ask me how.
www.justrightcopy.com
Visit my website and sign up for my fr~ee marketing tips.
New! No~cost Marketing Guide now available at my website.

Regulators Propose Tighter Rules For Mortgage Backed Securities

On Tuesday, U.S. bank regulators submitted a proposal that would require lenders to originate mortgages with at least a 20 percent down payment if they want to repackage the loan to sell to other investors without keeping some of the risk on their books.  The bank regulators say this would create strong incentives for responsible lending and borrowing.

  • The Federal Deposit Insurance Corp. board and the Federal Reserve agreed to seek public comment on the proposal.  However, the rule is expected to have little near-term effect because loans sold to Fannie Mae, Freddie Mac and FHA and VA loans would be exempt.  The U.S. government currently backs nearly 90 percent of home mortgages.
  • The CALIFORNIA ASSOCIATION OF REALTORS® and the NATIONAL ASSOCIATION OF REALTORS® oppose the proposal because the 20 percent down payment requirement is too high and would make it difficult for many people to purchase homes, causing further deceleration in the housing market.  Strong evidence shows that responsible lending standards and ensuring a borrower’s ability to repay have the greatest impact on reducing lender risk.
  • “We need to strike a balance between reducing investor risk and providing affordable mortgage credit,” said NAR President Ron Phipps.  “Better underwriting and credit quality standards have greatly reduced risk. Adding unnecessarily high minimum down payment requirements will only exclude hundreds of thousands of buyers from home ownership, despite their creditworthiness and proven ability to afford the monthly payment, because of the dramatic increase in the wealth required to purchase a home.”
  • Saving the necessary down payment has always been the principal obstacle to buyers seeking to purchase their first home. Proposals requiring high down payments will only drive more borrowers to FHA, increase costs for borrowers by raising interest rates and fees, and effectively price many eligible borrowers out of the housing market,” added Phipps.

Read the full story

Russian Investor Paids $100 Million for Home in Silicon Valley

The $100 million sale of a Los Altos Hills, Calif., home shows how some luxury properties are insulated from the U.S. housing slump.
The $100 million sale of a Los Altos Hills, Calif., home shows how some luxury properties are insulated from the U.S. housing slump.

A Russian investor paid $100 million for a 25,500-square-foot home in Los Altos Hills, Calif., which marks the highest price paid for a single-family home in the U.S.

Billionaire Yuri Milner, 49, who heads Digital Sky Technologies and whose investments include Facebook Inc., Groupon Inc., and Zynga Inc., has no immediate plans to move into the French chateau-style mansion and has a primary residence in Moscow.

The $100-million home features views of the San Francisco Bay, indoor and outdoor pools, a ballroom, and a wine cellar.

The high-price purchase is another sign in the growing strength of the luxury real estate market. Sales volume of homes more than $1 million increased nearly 4 percent in February year over year, the National Association of REALTORS® reports. Meanwhile, sales volumes for homes priced between $100,000 and $250,000 have dropped nearly 8 percent.

This marks the highest known price anyone has paid for a single-family home. Investor Ron Baron in 2007 paid $103 million for 40 acres of vacant land in East Hampton, N.Y.

Source: “Home Brings $100 Million,” The Wall Street Journal (March 31, 2011)

For all your real estate needs, call or Email:
John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

DRE# 00669941

Trashed House on Market for $1,142,000, Attracts Lots of Offers

Photo courtesy of The Orange County Register
Photo courtesy of The Orange County Register

A once luxury home in Huntington Beach, Calif., is moldy, cement was poured down the drains, and a Jacuzzi tub was left running water for months. But after being listed on the market for less than two weeks for $1,142,000, it has already received five offers. What’s more, two of the offers were “well over” the list price, the real estate agent Tom Moon told The Orange County Register.

Moon says the 3,321-square-foot house was the worst example of “malicious vandalism” of foreclosed homes he had ever seen. Chemicals and cement had been poured down the drains and a floor in the home actually caved in from the weight of a pile of wet clothes and trash. Appliances, sinks, toilets, cabinets, countertops, and flooring were taken from the home too.

Photo courtesy of the Orange County Register
Photo courtesy of the Orange County Register

“This home needs drywall completion and installation of all interior decor,” Moon says. Mold remediation and new pipes have been completed since the home went on the market.

The home went to a foreclosure auction last August but failed to attract any bids.

This time around the home, which is on a cul-de-sac along a golf course in a guard gated community, has attracted plenty of buyer interest. However, getting to the closing table may still be a challenge. The winning bid of the five bids received on the home was the highest all-cash offer with a 2-week escrow period. Yet, shortly after completing inspections, the buyers initially walked. But the deal may be back on, according to the latest reports from the Orange County Register

Source Orange County Register

For all your real estate needs, call or Email:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

Beale Air Force Base Lands MC-12W Spy Plane Mission

The first MC-12 Liberty aircraft lands after its first combat mission in June 2009 at Joint Base Balad, Iraq. U.S. Air Force
The first MC-12 Liberty aircraft lands after its first combat mission in June 2009 at Joint Base Balad, Iraq. U.S. Air Force

The MC-12W spy plane mission will be based at Beale Air Force Base, bringing hundreds of new airmen and greater economic impact to the surrounding region.

“This should be a shot in the arm for the Yuba-Sutter area economically,” said U.S. Rep. Wally Herger, R-Chico, whose office announced the mission’s placement Friday. “We are so excited.”

With the first plane arriving in May, by July the base will have up to seven of 37 total “Liberty” planes, while the others are deployed elsewhere. The planes fly at low and medium altitudes for reconnaissance and spy missions and are piloted, unlike the Global Hawks also based at Beale.

Brynda Stranix, president and chief operating officer for the Yuba-Sutter Economic Development Corporation, said she expects civilian staff supporting the mission could number another 150.

The mission will require 555 enlisted airmen, and Herger said he would expect it will require new civilian support staff as well.

She added her office will target the contractors, possibly as many as 120, who’ll be servicing the planes in an effort to get them to base their businesses locally.

“When you’re talking families, it could be up to 2,000 people who will be coming here as a result,” she said. Over time, everything from recreation to retail will see an increase in demand.

Click Here for the rest of the story from the Appeal Democrat

For all your real estate needs, write or call:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-091
Email John at jodell@nevadacounty.com

DRE# 00669941

Nevada Fair Coming August 10-14

Mark your calendar for the event voted as “Nevada County’s Best Event” for 11 years in a row – the 2011 Nevada County Fair, August 10 – 14, at the Nevada County Fairgrounds in beautiful Grass Valley.

“Gold! Rush to the Fair” is this year’s theme and we have five days of excitement and fun planned for Fair-goers of all ages.  The Nevada County Fair is the perfect opportunity to enjoy live entertainment, delicious food, carnival rides, animals, and exhibits – in a community-friendly environment and at affordable family prices!

Live entertainment will be available every day at five different stages throughout the Fairgrounds. There’s carnival rides and games, barns full of livestock, thousands of community exhibits, special contests, an Idol Competition, nightly arena events, daily demonstrations, gold panning, and food contests.  As always, Treat Street will be serving an array of delicious food and drinks – corn dogs, pasties, tacos, corn on the cob, beer, tempura zucchini, nachos, hamburgers, funnel cakes and caramel corn – just to name a few!

Long-time crowd pleasing events will soar into the Fair’s arena Wednesday through Sunday, presenting thrills ranging from a rodeo to Monster Trucks to the Demolition Derby.

The Ag Mechanics Auction will be held on Friday of the Fair, and the Junior Livestock Auction will be held on Sunday, August 14.

For those interested in entering competitions and projects for judging, the Fair’s Competition Handbook will be available June 1. At that time, all of the categories, as well as online entry information, will be listed on the Fair’s web site at www.NevadaCountyFair.com.

Gates open each day at 10 am, and close each evening at 11 pm. Admission this year will be $9 for adults, $6 for seniors (65 and older), $4 for children 6 to 12, and free to children five years old and younger.  Additionally, active and retired military, with ID, will receive free admission.

At one of the most affordable fairs in California, take advantage of discounts and pre-sales on tickets, which begin June 1. At that time, there will be discounts on daily admission and carnival ride tickets, and the popular “Be A Kid Again” promotion, with $4 admission tickets for Thursday, will be available. Additionally, Kids Day will once again be held on Thursday from 10 am to 5 pm and during that time all children 12 years and under are admitted for free.

The Nevada County Fairgrounds is located at 11228 McCourtney Road in Grass Valley, 50 miles northeast of Sacramento, off Highway 49. For directions, event details or general information, visit www.NevadaCountyFair.com or call the Fair Office at (530) 273-6217. You can follow the Fairgrounds on Facebook at “Nevada County Fairgrounds.”

Source:
Wendy Oaks
Publicist Nevada County Fair

 

For all your real estate needs, call or write:
John J. O’Dell
Real Estate Broker
(530) 263-1091
Email John at jodell@nevadacounty.com

Nevada County Snow Pictures, March 25, 2011

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Pictures taken by John J. O’Dell

These are pictures that I took on the way to Grass Valley.  Click on the pictures to enlarge them and view them with Pic Lens which is the best way to see these pictures.

If the does not work for you try this slide show.

Image 1 of 6

We're about to sail off, soon as we start the engines

 

For all your real estate needs, call or write:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com