Florida Agenda

FORT LAUDERDALE – Realtor Rick Gibson has been appointed to serve on the City of Fort Lauderdale’s newly formed Community Redevelopment Advisory Board (CRA), which was created under the mandate of the City Commission to help formulate and implement strategies to redevelop and improve the area between West Sunrise Boulevard, Northwest 16th Street, I-95, and Flagler Drive.

The board will consider such strategies as encouraging new commercial and residential construction, making infrastructure improvements such as sidewalks, street lighting, and traffic calming devices, and measures which could offer grant or financial incentives to residents and business owners looking to improve their properties.

Fort Lauderdale City Commissioner Charlotte Rodstrom noted the “important duties” and planning the board members including Gibson will be undertaking for the area’s future, and said she “look[s] forward to working with this board to make this portion of the city a more vibrant area.”

“This appointment is an honor, considering the impact to the city of CRAs in general and this particular CRA’s central location,” Gibson, who has an extensive background in marketing and communications, and was recognized as Best Community Realtor 2011, told the Agenda.

“The LGBT community has historically resided and operated businesses in the areas affected by the CRA boundaries,” he said.

“I am very excited to be able to have input to the city on how to make these areas safer, more valuable, and to promote business,” added Gibson, whose affiliate was recognized this year as the RE/MAX 2012 Number One South Florida Team.

“Naturally, due to the proximity to Wilton Manors, and to the number of LGBT residents in the CRA boundaries, this will over time have tremendous positive impact for the greater good and the LGBT community,” he predicted.

Ft. Lauderdale, FL: Rick Gibson, Gay Real Estate Agent
	Keller Williams Realty Professionals 3696 N. Federal Hwy Ste 101, Ft. Lauderdale, FL, 33308, USAOffice: 1 954 592-4120 Fax: 1 954 630-7050 Mobile: 1 954 592-4120 Main Clientele: Gay Men Lesbian Bisexual Transgender Straight Specialty: Residential, Investment Region Covered: Fort Lauderdale, Wilton Manors, Oakland Park Years Experience: 10 Accreditation: N/A

By Dale Madison

When was the last time you heard a Realtor tell you, “It’s an amazing time in the real estate market”?

Dale Russell— the man behind the Dale Russell Realty Network and the “face” of the Five Points intersection billboard— is “bullish” about local real estate, noting that lower inventory around town translates to increased sales.

“It’s the first time in 18 months that there has been a real decrease in inventory, and the first time prices have started to increase,” he notes. “Today, prices are up seven to 11% in Wilton Manors.”

Russell cites the Wilton Station condos as an example of the Law of Supply and Demand, and the evidence of its presence in South Florida’s gay village. He says prices there average $289,000, a jump from previous listing rates, and that just six units are currently available, compared with a year ago when 30 to 40 units were listed. Russell points to this and other markers that indicate a turnaround in the market.

Russell offers L’Hermitage on the beach as an example. The luxury oceanfront condo is now 10 years old, and very stable in terms of residents, with nothing available for sale, an almost unheard-of situation.

He also points to growth in neighboring Miami-Dade County.

“There are over 50,000 units currently under construction there,” Russell notes. “In that market, a group of investors got together and pooled their resources, and are making a huge difference there.”

Closer to home, Russell says that a lot of new growth in Wilton Manors comes from commercial ventures, with new restaurants, bars, and shops opening up along the Drive and Dixie Highway, and that rental prices are once again spiking, another indicator of economic recovery.

He also points to government programs for those with an eye on the real estate market.

“Currently, Fannie Mae and Freddie Mac are offering special incentives for buyers. They understand that they have to step up help restore confidence,” Russell says. Russell—the past President of The Pride Center at Equality Park and, with his business and life partner, Jan Carpenter, an active participant in local charitable activities and service organizations—was instrumental in helping The Pride Center obtain their new location on North Dixie Highway. Although he brokered the deal on the real estate side, Russell and his network refused to accept a commission for the transaction, donating their profit instead to help with The Pride Center’s renovations.

Russell said that it’s important to take what one hears about the real estate market in its proper context.

“You can’t listen to CNN or many of the local newscasts, because they are still talking ‘doom and gloom,’” he advises. “You really need to go online and look at what’s going on with the local markets. Get your facts and figures. Last year there were 11.1 million visitors to Greater Fort Lauderdale, and that exposure is huge, because so many of those people fall in love with the weather and the community, and they translate into potential buyers.”

OAKLAND PARK, FL – A Short Sale Seminar will be held on November 8 from 4 p.m. to 6 p.m. at the Oakland Park Library, 1298 NE 37 Street in Oakland Park.

This seminar on short sales will show you ways to save your credit.

Lanham & Associates realtor and foreclosure expert, Leida Alicea, will moderate this seminar with expert guest speakers to answer all of your questions. Experts on this topic will include: Florida State Representative for District 91, George Moraitis, Jr.; paralegal Patricia Salois; short sale negotiator Brian Karney; Ivette Lipp from FEMBi Mortgage; and local landscape design professional Luis Llenza.

The seminar will cover: Why you want to avoid foreclosure; what a short sale is and how long it takes; documents required to initiate a short sale; and the Mortgage Debt Forgiveness Act of 2007, among other pertinent topics.

If you wish to attend this seminar, call (954) 530-8198 or email leida.alicea@lanhamassociates.com. Space is limited to 60 people so please respond as early as you can.

By Rick Gibson

When I first moved to Fort Lauderdale, I was told, “It’s a perfect grid system” and did not understand. I did not understand how a “perfect grid system” could be interrupted by canals, bridges, railroad tracks, a “thing” called the Intracoastal, and streets that went into winding loops and suddenly into straight lines again.

Then I learned that there are not one, but two cities completely surrounded by Fort Lauderdale (Oakland Park and Wilton Manors), and if you include Lazy Lake, it could be said there are three.  There is an intersection we know as “Five Points” where not four, but five streets meet in this “perfect grid.” NE 4th Avenue suddenly becomes Wilton Drive, and just when you think you “get it,” the same street becomes “Flying L Drive” (named after the Fort Lauderdale High School football team incidentally).  Sunrise Blvd. just decides to become Federal and then changes its mind and goes on its separate way again. If you want to mess with someone who just moved here, tell them it is a “perfect grid system.” If you want to make a friend, tell them it’s not. I’m telling you it’s not.

This is very important when buying and selling real estate here. The buyers must understand what they are buying and where they are buying, or in my experience, they will not buy. Sellers need to understand the particular changes in their neighborhoods relative to others because they all gentrify and change price points at different rates. It can be said this is all quite complex. Like most things that are complex, it can be easiest to understand as a sum of its “parts.”  In real estate, those “parts” are our neighborhoods, or in real estate jargon, they are “subdivisions.”

Each subdivision could be thought of as its own little city in a way, and each one having a particular style, income level, demography, distance from the Atlantic, and countless other qualities the most significant of which may be price. If you have a child, you may want the “A rated” schools in Coral Ridge or Victoria Park.   If you are an avid yachtsman, then you will want to be anywhere from Coral Ridge to the Isles of Venice to Sailboat Bend, but you will probably not want to have any fixed bridges. If you are an investor, you may choose the fastest changing neighborhoods with the highest cash flow like South Middle River and Lauderdale Manors between Wilton Manors and Downtown. The good news is our subdivisions make everything much simpler, so my advice is to get to know them, and try to focus on the positive aspects of each one.

For the LGBT community, the “sense” of community can be of the utmost importance, especially since we are in fact a minority, even though at times in Wilton Manors on Halloween or at Gay Pride that may not seem true. To be close to people who share your values and help you to feel comfortable, especially as we get older, is one of the most important considerations for any buyer, and that does not only hold true for the LGBT community.

For the LGBT community, the City of Wilton Manors is well known to have one of the highest per capita concentrations of LGBT people in the United States and so therefore could be considered the “heart” of our LGBT community in a way. But this is not the rule, and it would be a mistake to not consider spectacular neighborhoods surrounding cities too.

At one time, I was showing a property to some incredibly charismatic clients from London and the home happened to be in Poinsettia Heights, a nice subdivision of Fort Lauderdale. My client looked at the woman on the couch, who was in curlers, and asked “May I ask you a personal question?”

The whole room stopped, as she looked up and said, “Why of course.”

He then asked her “Do you consider this a very ‘gay friendly’ neighborhood?”

I will never forget how stunned she looked before she laughed and said, “I don’t really have a choice now do I, since I am outnumbered three to one!” Well, although her observation does not hold up statistically for Poinsettia Heights, it does show the importance to those savvy buyers, and how savvy the seller was to acknowledge that importance.

Neighborhoods and their differences is one of my favorite topics, and they are more important here than anywhere I have ever lived. We have an incredibly diverse community and region. Rather than be confused by all the differences between neighborhoods, like the differences in each other, we can instead embrace those differences and learn as much as we can about each one. I hope you will try to notice the subtle and not so subtle differences between all of our neighborhoods, not just the one where you live. People live in all of them, and they are all home to someone. Perhaps they are a lot like you.

Rick Gibson is a Realtor®, CDPE, CIAS, and Managing Partner of Gibson Group Property Management, LLC. Rick can be reached at rickginfla@aol.com.

OAKLAND PARK, FL – In a written statement, Oakland Park Mayor Suzanne Boisvenue stated that despite the challenging economic times the country is facing and the collapse of the real estate market, the city of Oakland Park and its elected officials believe that the city is adhering to a “vision which will continue to improve the community and spark a rebirth of the downtown district and surrounding areas.”

Boisvenue contends that the city’s officials and residents are enthusiastic about the Oakland Park Redevelopment Agency (CRA) which emphasizes five main aspirations: downtown redevelopment, connections to the

downtown district, strengthening neighborhoods, increasing green space and increasing attainable housing opportunities.

The statement also confirmed that city has secured more than $30 million in funding for capital improvement projects over the past ten years.
“I recall how Oakland Park was synonymous with flooding for many years and it seemed like staff had to provide sandbags every time it rained,” said Boisvenue. “During the past few rainy seasons, our streets and neighborhoods have been dry and free of flooding due to the many successful drainage projects. It is incredible to walk into our new downtown Jaco Pastorius Park and see thousands of people enjoying the Oktoberfest or the PrideFest celebrations where nearly 9,000 people attended.”

Gary Lanham is one of the new business owners and credited the city staff for allowing a rapid permitting process, approval and move-in to become operational quickly. Lanham’s business joins the ongoing revitalization taking place in Oakland Park, bringing jobs and retail traffic to the downtown district.

“I live in The Corals neighborhood,” notes Lanham who has also served as president of his neighborhood association. “I selected Main Street because of the continued ease of doing business in Oakland Park.”

The city has recently acquired an old shopping center on the corner of N.E. 12 Avenue and N.E. 38 Street with plans to turn the property into a landscaped parking lot and the plans for G Resort to build on the old Gibby’s Restaurant property continues to move forward.

“We continue to transform our downtown into a walkable, workable and enjoyable destination where we welcome everyone,” concluded Boisvenue. “We see our downtown district as a vibrant and compact urban area that will foster smart growth and stimulate continued economic development.”

By Alex Vaughn

Vincent Clancy, Founding Partner of the Davinci Group, has had a remarkable life, having travelled and spent many years in the automotive industry. He is now turning foreclosures and short sales in the property market into a thriving business. His contributions to the real estate for the community have been ahead of the economic game, from multi-million dollar waterfront homes in the boom to short sales in the crashes. Here is his story.

Vincent Clancy was born in 1959 in Westminster, California, near Disney-land, into a large Irish family of 8 boys and 1 girl. His family relocated to the San Francisco east bay area where Vincent attended High School at San Ramon Valley High in Danville, California.

His father owned and operated a concrete pumping contracting business still in operation today by one of his brothers. Vince’s Father’s company poured the underwater concrete tube for the BART trains to run through between Oakland and San Francisco under the San Francisco bay. His mother ran the family business from home and took care of the kids.

At the age of 17, Vincent took a trip to Hawaii and Maui with his best friend and loved it. “He said I will be back to live here someday”. It turned to be true. At the age of 18, he moved into his first apartment in Walnut Creek, California. A year later, he decided to move to Los Angeles. Vincent had a best friend growing up whose dad was a full-time Realtor© and was told at the age of eight, ‘you could sell ice to Eskimo’s you would do well in real estate boy.’ It turned out to be a good assessment.

In 1979, Vincent was working as a parts manager of an independent Volvo service and body center in Beverly Hills. He bought his first foreclosure in 1980. He convinced the lender to approve his loan by driving to Orange County to the lender’s head office and speaking with the lady who was handling the loan directly. Not possible in today’s crazy lending maze. Also in 1979, he met his first partner Jana Alor, an English student from Mexico City. His father relocated the family to Mexcio City after working as an accountant for the Franco government in Spain. While his friends were playing at the beach on free time, Vincent and his lover were sanding, painting and fixing. He bought his second home in 1983 in the Hollywood Hills near the famed Mulholland Dr.

Since interest rates were 21 percent on home loans, he arranged owner financing with the seller and moved in. In that same year, he partnered with one of his coworkers and opened his own service center in LA.

“We bought 10,000.00 square feet of land on the busiest traffic corner in all of LA and modified a warehouse to fit the of the service center needs,“ he says. It was not a good time for the economy and his plan worked out well for the business, tripling in revenue in one year offering better service at lower prices than the big dealerships.

In 1985, Vincent and Jana, his lover of six years, moved to Honolulu with three mechanics, their families, a dog and two canaries plus all kinds of equipment to open a service center in Hawaii. Vincent bought an existing Porsche repair business and renovated and expanded it.

It became the largest independent repair service and parts company for exotic cars on the islands. He lived in Manoa on the island of Oahu. In 1991, his lover of 12 years passed away. It was the end of an era, a chapter had closed. He sold his business that year to help pay medical bills and take time to recover from the huge loss. In 1992, he was hired by GM to open new car dealerships for a line of cars called Saturn, a completely new American car. He went to Tennessee for culture and product training.

He was transferred to Sacramento, CA, and then to San Francisco to open new Saturn dealerships in those markets. At that time, it was taking Saturn dealerships 18 months to turn a profit. There were no Saturn’s on the road yet. No service or repairs needed. Vincent came up with an idea that Saturn would be the family one-stop service center for all the family cars, no matter the make or model. He started accepting ALL PRINTED COUPONS FROM ANY COMPETETOR. The Idea was not received well by the brass of GM, but it worked; the service and parts and body centers started showing profits running in the black in 90 days of opening. He was honored at an annual banquet in San Francisco in front of 800 of his peers. It was an idea that worked, yet again. Vincent proved his instincts were ahead of the game.

In 1994, he was burnt out on 14 to 17 hour days at Saturn (they wanted him to open 18 more stores). He was missing the islands terribly and his real passion for real estate. He left Saturn and moved back to Hawaii, where he started buying and selling pre-foreclosures.

He saw the Hawaii real estate market overheat and was watching it crash; the Japanese invasion was over. Huge Japanese banks were failing, property values dropped 40 percent. He studied other areas and had an interest in San Diego – the economy was not good in the early 90’s. He felt San Diego was ripe for a turnaround from the loss off the shrinking military cuts of the late 80’s that caused their economy to take a hit. In 1995, he went forth, followed his instincts and moved to San Diego and started buying real estate. It proved the right move.

In 1999, he met his current partner Steven Eres. They were introduced the old fashioned way: By a mutual friend. The first question Vincent asked Steven was, “You’re cute but can you cook”? Forty pounds and twelve years later, the question was well and truly answered.

In 2000, he moved backed to San Francisco and started buying foreclosures in Hawaii, commuting twice a week from Honolulu to San Francisco. In 2004, Steven bought a two level condo in South Beach. They moved to Florida in September, 2004. Then, in 2005, Vincent got his real estate license and was successful at selling multi-million dollar waterfront homes from the start.

In 2007, he met with a local builder of luxury homes and told him he felt a Japan/Hawaii crash was in the works and asked for all of the 130 listings worth over 100 million dollars. He told the builder he needed to drop prices and sell out of his inventory in six months to survive. He mentioned Lennar homes as an example. Vincent felt he had seen this crash before. He told the builder banks would fail before this is over. The builder laughed out loud at that notion, but gave Vincent all his listings; the builder and his wife, however, refused to lower prices. Wachovia cut their credit line and then Wachovia itself went under.

In 2008, Vincent got his broker’s license and DaVinci Realty Group, Inc., was born. With agent Dalia Baciulyte, the name came from her first two letters and Vincent’s first four letters (yes, a real DaVinci Code!).

Together, they have sold over 20 million dollars in real estate in a declining market since 2008.

In 2009, Vincent saw banks willing to take huge discounts on the loans to the builder to cash them out, 20 cents on the dollar in some cases! Vincent knew at that moment he needed to change his business model and buy distressed properties and sell them to the buyers who are looking for great deals. Dalia and Vincent went to the Broward County courthouse foreclosure auctions to get the deals they were looking for. Instincts won out again.

They are always expanding their reach into fast track short sales and buying notes directly from lenders holding distressed paper. “Bad news is VERY GOOD news for those that know what to do with it,” Vincent states.

Vincent’s newest idea he is working on is to start a regular blog on his website, www.davincirealtygroup.com, to educate and inform the public of the ever-changing landscape as it relates to foreclosures and short sales and investment opportunities for the general public.

He is finding many people are just not informed, or worse misinformed. He hopes that this free forum can help people make informed choices about their own situations.

He has opened a second office at 18 E. Oakland Park Bl. and Steven Eres, Vincent’s partner of 12 years, has come on board since June 2011 to help run his offices as he expands another successful business model.

Vincent says his father, a man of few words, gave him some advice that stood him in good stead for his life: “Life is full of choices. You make good ones and bad ones. For your sake, make more good ones”.

Main Office:

DaVinci Realty Group
2364 Wilton Drive
Wilton Manors, FL 33305
(954) 553-1130

OAKLAND PARK, FL – When Lanham and Associates opened their real estate office in Oakland Park earlier this year, they took on the d/b/a. of “Real Estate Recovery,” but they discovered that people were mistaking the meaning of their name so they are making a slight change in their identity.

“What we’re finding is that probably a better way to describe our company is Lanham and Associates: Leading South Florida through the Real Estate Recovery,” said Gary Lanham. “The connotation is subtle but people were mistaking us for only doing short sales and foreclosures and that couldn’t be farther from the truth.”

Regardless of their name, Lanham and Associates has become a leader in the redevelopment of Oakl

and Park and, unlike many other real estate companies in the depressed economy, has continued to grow and prosper.

“Some people choose to live by complaining.  Other people choose to live.”
– Dr. Shad Helmstetter

By Rick Gibson

The pros and cons of each – condos and single family homes – remind me a bit of people who prefer dogs over cats or the other way around. The difference, of course, is that we do not live in our pets, but our pets live with us. I think people who think they do not like cats or dogs have just not been exposed to the right ones could change their minds quickly. Similarly, there are strong preferences by some people toward single family homes over condos that make asking this question interesting, considering we really are not supposed to know exactly what we want, but rather that is what “shopping” for homes is about. If you are a person that, for whatever reason, prefers condos over single family or vice versa then it’s simple … it’s your home, after all.

If there was one difference that comes to mind when I meet a client who is unsure, especially when they are buying a second home, it would be the “relative privacy”. In my opinion, there is significantly more “privacy” in single family home living than in condos and you can create as much independence there as you desire with landscaping, fences and more. Condos, by definition, are part of an “association” and so are part of a “group” of units that share common areas, land (usually), and walls and floors. If you are a person that simply does not want to have “rules and regulations,” then you may want to stick to single family. However, if it is only the “hallways” and “feeling” of being in a complex that bothers you, then there are complexes that have catwalks or open walkways that could overcome this particular concern. If you like some parts and not others of the condo lifestyle, then townhomes could be a perfect compromise.

Independence is an interesting benefit to both single family homes and condos, but in different ways. For some people who travel a lot, condos may not “be” independent, but allow them as owners to live with independence, and not enslaved by thoughts of their pool maintenance, landscaping or any type of upkeep or personnel. These people might rather pay for maintenance and not think about their yards or pool.

Of course, if you are unsure you can have it both ways … you can have a single family home and hire people to maintain your pool, lawn or a property management company to cover every possible concern.

The benefit to independence of single family is that you will not generally have any “rules and regulations”. So, if you have disdain when neighbors park in their yards, or have living room furniture on their front porches, you need to study the neighborhood you buy in or accept that rules and regulations can be very “good” things, and not the perceived negatives the words imply. Rules, if they protect a common interest, serve us all very well and improve your quality of life.

Those are a few of the broad concepts and benefits to condos and single family homes. Next, there are some very specific ones that may be “deal-killers” for you. Please do not spend your time looking at condos until you first decide if you must have a washer/dryer in your unit, as opposed to common laundry; if you want the freedom to lease out your property the first year you purchase; or if you have pets. If pets are a big part of your lives, then start there. If your pet weighs 26 pounds and you need to be under 25 pounds, then that could be one big pound when it comes to making a decision.

Regardless of which one you choose, use a Realtor® that does not only show you want you “think” you want, but opens your mind to obstacles you may learn later and points out benefits of options you may not have considered.    Your home is your retreat and “safe place,” so please don’t compromise on what is most important to you as an individual, couple or family.

Rick Gibson is a Realtor®, Re/Max Preferred and Managing Member, Gibson Group Property Management, LLC. He can be reached via email at rickginfla@aol.com

By Rick Gibson

“If we all did the things we are capable of doing, we would literally astound ourselves.”– Thomas Edison

This quote may be an unusual introduction to short sales, but it’s fitting.  Many people do not understand them, are afraid to admit it and avoid what they don’t understand. By acknowledging you are not alone if you do not understand short sales, and that you are not “supposed” to understand them, is the first step. Then, see that short sales may be a great option for you, and not something to avoid or fear.

A property being “sold short” means it is being sold for less than the seller owes to their lender. So, when sold,
there will be a “shortage”. Lenders prefer short sales over foreclosures since they lose less money and it can help decrease vacant properties.

The lender is the real decision maker, even though it is the seller who hires the Realtor®, signs the listing and the sales contract. The seller cannot make any profit, though in some cases is given moving expenses as an incentive to keep them from abandoning the property, or taking the fixtures and appliances.

Fundamental to accounting, but a mystery to some, is that “losses must be offset by a gain,” so you may hear lenders send an income statement to sellers for the amount the lender loses when they approve a short sale (the difference between what it sold for and what was owed). You may have also heard the seller is then responsible to pay taxes on that “income,” even though the seller did not make any money.  Hearing things like that and not understanding them causes people to postpone taking action and regretting it later.  Consult an accountant to confirm that, for a limited time, you are able to waive liability for taxes on this “income”.

If you are in debt and need to get out of a property, now is an opportunity to start over. If you are not in debt, but have property that is harming you due to its value, you may be a candidate for “strategic default” and should consult an expert quickly. I strongly suggest if you are a seller and are considering your options, meet only with a Realtor® who is a Certified Distressed Property Expert (CDPE). This means the Realtor® has specialized training, and you are more likely to understand your options, minimize stress and find success.

Some Realtors® negotiate their short sale contracts themselves; others hire a firm that represents them and the seller in lender interactions. Personally, I recommend and hire experts to negotiate with banks to cover this critical task, and stay focused on obtaining contracts and managing the process. I would similarly not be my own dentist or lawyer.

Buying short sales is a risky if you are looking for a primary home, unless you are okay if it does not succeed. The process can take a while, and has its problems. For my clients, I generally recommend short sales to investors more than to my buyers who are
emotionally involved or relatively impatient. It can be slow, but this is changing quickly and for the better. Lenders are receiving criticism and new guidelines to speed up the process, and the market is in a clear trend towards more short sales and less foreclosures.

Regardless of whether you are a buyer, seller or are considering buying or selling, don’t be afraid to ask
questions. Short sales are here to stay and may be a tremendous opportunity to get out of debt at a time when there are few down-sides.

Now is a time of change and opportunity and, as Thomas Edison expressed so well, we are capable of many things.  Learning about our options now and taking action can greatly enhance our lives.

Rick Gibson is a Realtor®, Re/Max Preferred and Managing Member, Gibson Group Property Management, LLC. He can be reached via email at rickginfla@aol.com

By Rick Gibson

We appear to be very fortunate here in Broward County compared to the rest of the United States. One reason (aside from the weather) is there is no question our real estate market is on the “mend,” and quickly. Similar to almost any product, including the stock market, most things change in “cycles” of “ups and downs”. When the real estate market is “up” (meaning prices), then sellers are happiest and are able to get higher prices because there is more “demand” than there is “supply” (more people wanting to buy than there are properties available).   The bad news for those sellers in this situation is when they sell they often cannot afford to buy anything else. When supply is flooding the market, as it has been with foreclosures and short sales in the past few years, prices drop as a result and that is considered more of an opportunity for buyers than sellers, so is considered a “buyer’s market”.

This is to me a very interesting time in our history and in our market. We currently, in my opinion, are in the rare time of being in both a buyer’s and a seller’s market … this will not last. The reason we have both at the same time is a little complex, but many things in our economy have contributed to this status. The number of foreclosures seems to be slowing down, short sales are speeding up (and becoming more efficient), and overall inventory is down considerably. There are not nearly as many listings (especially good ones) as there were a year ago or six months ago.

So, for sellers with a great property and a realistic price, this is both an excellent time to sell their property and to buy another one. Buyers who are waiting for the “bottom” are missing out, and I predict going to be very frustrated with themselves as they start to see less choices and higher prices.

If you are considering a change and wish to trade “up” (buy the waterfront home of your dreams, or a larger home, etc.), “down-size” (realizing that you cannot use 7 toilets at a time), or invest, this is the best time I have ever seen to do so. If you are content in your home or property and it is worth what you feel it should be relative to what your mortgage may be if you have one, then maybe you should do absolutely nothing. If you do not like your property and cannot afford it, that’s easy. Contact a Certified Distressed Property Expert and/ or your accountant right away. If you are an investor, it may make sense to sell your property for less than you thought you would, only

in order to buy other properties now while you can, for less than you will ever be able to again. You end up ahead potentially if you do it right. In these cases, contact an investment specialist and, as always, keep your accountant’s advice close to you.

In times of tremendous economic change like we are experiencing now, there are incredible opportunities but to “freeze” up (do nothing) because we do not understand something could be a mistake. Reach out to someone you trust and get some sound advice so you can make your lives and those around you the best they can possibly be.

Real estate is not really about properties but the people who live in the properties, and their happiness and well-being. Focusing on the people, including yourself, will usually guide you to take action and not “settle” for mediocrity when you deserve better.

Rick Gibson is a Realtor®, Re/Max Preferred and Managing Member, Gibson Group Property Management, LLC. He can be reached via email at rickginfla@aol.com