Barry Johnson…
On today’s show we talk about the latest real estate news including recent analysis about what is being called the “Black Hole” of the mortgage fallout. We interviewed George Donohue, the real estate negotiation specialist. That, and Barry C’s new blog post today on Real Estate Radio USA.
Forbes.com reported recently that the mortgage meltdown is creating what is being coined as the “$400 Billion Black Hole”. If that is not bad enough, other researchers, like the ones at UBS, put the figure closer to $600 Billion. The “Black Hole” is referring to the toll that the mortgage credit collapse is having on the financial system.
This crisis has far reaching effects just now being realized. Case in point, the Associated Press article titled, “Even in Napa, foreclosure crisis hits home”. Some interesting stats from Napa County are included in the article such as, home sales tumbled 55% from last year and the fact that the number of area foreclosures jumped by 152.9 percent.
An interesting article from Reuters today that reported the phenomenon of first-time home buyers sitting on the sidelines in record numbers. Although this is no huge revelation in the real estate world, there were a couple of interesting points made in the article. One, the fact that the NAR is still pulling stats out of their %$#@’s, and two it seems that people have lost all common sense when it comes to their own financial futures.
We had the pleasure of interviewing George Donohue on the program today. George literally wrote the book on real estate negotiation titled, “Real Estate Dealmaking: A Property Investor’s Guide to Negotiating”. George’s knowledge regarding the in’s and out’s of real estate negotiation is quite comprehensive and he talks about some of his strategies on today’s show.
We finished the day with Barry C’s recent blog post titled,”Do You Eat Monkey Brains? or The Top 5 Reasons Your House Is Not Selling“. Barry and I talk about the 5 reasons in detail on this episode. Also, Barry C gives his recipe for Monkey Brains, gourmet style. This episode is worth listening to just for that alone.
