REFItv interviews Jon Winick of Clark Street Capital
Managing Editor of Real Estate Finance & Investment, Samantha Rowan, interviews Jon Winick, President of Clark Street Capital.
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Posts Tagged 'Street'For Sale: 77 Park Street, SconeScone First National Real Estate FOR SALE: 77 Park Street Scone Extremely Rare Find 4 Bedrooms, 2 Bathrooms
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The Real Estate Market: Fear and Loathing on Main StreetA funny thing happened on the way to writing this column. Ferris Bueller’s economics teacher beat me to deadline.
Even scarier, I agree with Ben Stein’s position in his New York Times piece August 8. Chicken Little got it wrong. The sky isn’t falling. And healthy financial adjustments are being made from Wall Street to Main Street.
But let me take Stein’s premise one step further.
While Stein attributes the stock market correction largely to subprime mortgage fears and a panic exacerbated by the media, the real estate market is behaving in a similarly petulant way.
Despite the best discounts in years, no one is buying. Investors are sitting on the fence. Media mavens, looking for strong angles at editorial budget meetings are jumping all over the alleged real estate market crash story when what’s really happening is likely closer to a healthy industry correction.
Consolidation is good for business. It weeds out the marginal, the fraudsters, the corporate wanna-bes. The over-leveraged. The real estate and stock markets will come back – at a deliberate and sustainable pace. And we will all be better for it.
Remember those offers of generous equity lines? Gone.
How about getting a mortgage with a credit score below 600? Not a chance.
Exotic mortgage instruments that don’t verify buyer income? Good riddance.
Greed, for lack of a better word is human nature. So is avoidance. Consequences be damned. And we are all to blame.
A glance at the headlines at Condo Vultures LLC sums up the general panic. If there is any positive in the reporting, I haven’t seen it.
The media lives in a heaven or hell world. Investors, and the financial institutions that serve them, have the Sword of Damocles dangling over their heads. Not that some consternation isn’t deserved. It is.
So now that the self-flagellation is over, let’s suck it up and get back to reality.
When the devalued dollar begins to rise again, it will already be too late for foreign buyers in Tokyo or the United Kingdom looking for a good U.S. acquisition.
I believe the same holds true for real estate. By the time the market begins to turn, valuable equity will be left on the table for those buyers looking for even more discounted prices.
Whether you are playing the stock market or the real estate market, a buyer’s market is all about good pricing, and not about knowing the perfect time to pounce.
John T. Fakler is the Executive Editor of Condo Vultures LLC . His weekly column appears every Wednesday. He can be reached at JFakler@CondoVultures.com. Mr. Fakler is an award-winning business journalist with more than 12 years experience covering public companies, law and corporate governance. He is currently a media relations consultant with Media Logistics LLC in Coconut Creek, FL.
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36 Mine Street, Flemington Boro, NJ $441000; 1.5 baths36 Mine Street listed for sale by Craig Proctor of Coldwell Banker Residential Brokerage www.coldwellbanker.com
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303 South Main Street, Raritan Twp., NJ $895000; 0.5 baths303 South Main Street listed for sale by Craig Proctor of Coldwell Banker Residential Brokerage www.coldwellbanker.com
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19 Bridge Street, Stockton Boro, NJ $1495000; 4 baths19 Bridge Street listed for sale by Craig Proctor of Coldwell Banker Residential Brokerage www.coldwellbanker.com
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Playing Football on K StreetThis presentation is not about the criminal lobbyists on K Street; many of whom are former congressmen and senators. It is about a talk I had over a dinner with several people with significant connections in “administrative governance” and private industry.What is the role of derivatives in our economy? I was able to find out that the major effort resides in keeping a criminal system in place to legitimize fraudulent derivatives instruments and to feed a finance driven esoteric economy. These efforts don’t speak to the physical economy, which has been walking the tightrope of instability and crisis.
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Bushby First National Real Estate Launceston – 51 Bourke Street, West LauncestonJuly 12 2010 3 Comments Tags: Bourke, Bushby, Estate, First, Launceston, National, Real, Street, West
Fern Cottage – Circa 1890 Simply stunning, is the best way to describe this magnificently renovated city townhouse. Located a short distance from town, the current owners have lovingly restored this home to its former glory. Since renovated it has been Heritage Listed. With an abundance of character features which include polished floor boards, feature fireplaces and some lovely ornate light fittings, its delightful. From the entrance hall we have 2 bedrooms, a bathroom and an enclosed verandah on the first floor. While downstairs there is a modern kitchen / meals room, lounge room which looks out to the courtyard and a verandah. Check out those special city views too!! This is highly sought after real estate, so dont delay!
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Bushby First National Real Estate Launceston – Just Sold 14/287 Charles Street, LauncestonJune 28 2010 Leave a Comment Tags: 14/287, Bushby, Charles, Estate, First, just, Launceston, National, Real, Sold, Street
Apartment 14/Level 5 Inspirational LuxuryThese 14 apartments are unprecedented in Tasmania because of their combination of size, quality and panoramic views. With 4 pre-sales already recorded and interest at an unbelievably high level, this outstanding development is sure to be an outstanding success. With construction currently moving at an incredible pace completion is due around June 2010. So for these who have concerns about other projects in Launceston let me assure you that The Charles is not only underway but is in fact ahead of schedule. So please register your interest with us and we will supply you with all the relevant sales literature required plus upon request arrange a site inspection for you. Enquiries to Eric Andersen 0412 625 070 or Mark Bushby 0418 130 732
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