The Five Essentials of Commercial Real Estate Success

December 29, 2009
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Everyone tends to forget the basics in favor of the “flavor of the month”. Here are the five essentials of commercial real estate success (randomly listed):

1. Show Up

- Give a number of hands that can affirm that they show up everyday ready for work. This one is so simple. Show up professionally dressed ready for work. Of course, you will have to dive in and actually take action steps in order to accomplish something.

2. Return All Calls

- Some only pick and choose the ones they suppose are important, some simply ignore all calls figuring if it’s important the caller will try and call again and some only return all calls…

Patrick Dempsey’s Bel-Air Home Sold for $2,571,500

December 29, 2009
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The Grey’s Anatomy star, Patrick Dempsey, 43 - earned his nickname “Dr. McDreamy” for his portrayal of Dr. Derek Shepherd on the ABC medical drama (2005-present) - has sold his Bel-Air home for $2,571,500.

Patrick Dempsey’s New England traditional-style two-story features four bedrooms and 4 ½ bathrooms in 3,841 square feet and also has a fireplace in the living room, a formal dining room and a kitchen that opens to the family room.

The gated house sits behind the hedges on less than acre with a swimming pool; a brick patio; flat lawn and a matching tree house.

He also starred in the movies “Made of Honor” (2008) and “Enchanted” (2007).

The actor listed…

Cher’s Hawaiian Mansion on Auction Block

December 29, 2009
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The singer, Cher, has put her spectacular six-bedroom Hawaiian home up for auction.

Cher’s Hawaiian mansion that boasts scenic views of the Pacific Ocean is set to be sold off on the 18th day of January by the Concierge Auctions.

Concierge Auctions estimates the three-quarter-acre property with views of the Hualalai Golf Course will sell for between $8 million and $12 million USD.

The property features a main residence and five freestanding bungalows totaling 8,821 square feet. It has four bedroom suites and the fifth is a media bungalow with a bar.

The residence was designed by the chart star herself and “balances modern sophistication with traditional Balinese style,” according to the company.

The Benefits of Commercial Property Investment

December 28, 2009
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Ever wonder if there are benefits in commercial property investment?

One should determine that something can be done – Abraham Lincoln.

It is true that commercial property investment is different from residential property investment - but certainly not as complex as commonly perceived.

Here are the benefits in greater details.

Increase return on investment by maximum usage

There are many ways you can maximize usage of your commercial property - especially with shop-offices - to generate more rental income and increase your return on investment.

Higher rental returns in terms of quantum and frequency

By investing in the shop-office, we only need to collect rent from one tenant instead of from four different tenants even if condominiums…

Kelly Wearstler Takes on the Viceroy Anguilla

December 28, 2009
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The interior designer Kelly Wearstler is the chosen decorator for the luxury Viceroy Hotel chain. It is no surprise that Wearstler was chosen to create the interiors of The Viceroy’s first international location in the Caribbean due to the three Viceroy designs under her belt (Miami, Santa Monica and Palm Springs).

The Viceroy Anguilla is located in Anguilla in the British West Indies that consists of 166 villas, an 8,000 square foot spa, a 140-seat restaurant and an infinity pool. All of this is set on 35 acres where two bays meet along 3,200 feet of Caribbean beachfront.

Wearstler’s design for The Viceroy Anguilla is more in keeping with the design of…

Fraudster Convicted for Selling Property He Never Owned

December 28, 2009
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Detroit, Michigan – Tracy Carmichael, 46, was convicted after a four-day trial in lieu of a fraudulent scheme that obtain an over $149,000 mortgage on a church property that is located on 11731 Mount Elliot, Detroit. Carmichael was proven guilty for eleven felony counts – Embezzlement over $100,000; four counts of Forgery, four counts of U&P; over $200,000 False Pretenses and 2nd degree Money Laundering.

Carmichael allegedly offered to sell the Temple of God Deliverance Mount Elliot property to a female as an investment property. He offered to handle all of the paperwork, manage the property and give her payments for the mortgage company. The victim later found out that all…

Katy Perry and Russell Brand – Coffee Shop Couple Buys Home

December 23, 2009
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The couple, Russell Brand and Katy Perry, spends time in a low-key morning grabbing some coffee in the Hampstead neighborhood of London, England on December 21, 2009.

The “Forgetting Sarah Marshall” actor and his “Hot N Cold” lady friend enjoy each other’s company as they passed the paparazzi.

In associated news, Russell seems fallen so hard for Katy that he is putting his money to where his mouth is and purchasing a new home for them to share.

The Los Angeles property is valued at $3.5 million and was once owned by Britney Spears.  Brand is currently selling his London bachelor pad now that he’s found a woman worth settling down for.

The Three Indicators on When to Invest in Commercial Real Estate

December 23, 2009
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In the U.S., there are over $800 million in commercial loan renewals are coming due in the next three years. Northern California is one of the most desirable and inelastic markets in the United States, the value of commercial real estate has dropped between 25-50 percent.

Here are three indicators that potential investors should be conscious of when investing in real estate.

* The first is interest rates start to increase. The US Fed has eliminated the cost of funds for banks to borrow from the Fed; this in turn is supposed to positively encourage lending while keeping interest rates for the average borrower to a minimum. This is working, but once…

Modified Mortgages Helped Few Borrowers

December 23, 2009
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The amazing number of homeowners who get their monthly payments reduced fall behind again within a year is one of the biggest challenges to ending the foreclosure crisis.

Lenders have a number of ways to help when borrowers get into financial trouble. Lenders can offer grace periods, longer repayment schedules, lower interest rates or reduced balances.

However, according to a report from the Office of the Comptroller of the Currency and the Office of Thrift Supervision, nearly 40 percent of homeowners who had their monthly payments cut by 20 percent or more last year were delinquent again within a year.

With the economy still weak and employers continuing to cut jobs, “even if…