Join Bruce Norris at San Jose Real Estate Investors Association (SJREI) on Thursday, October 6th as he shares critical insights and his reasons why California real estate investor should consider staying put, cashing in, and/or 1031 exchanging into other inventory here in California.
The Norris Group conducted a survey in late 2015 which showed investors’ biggest concern heading into 2016 was whether or not California had hit its peak. Inventory is tight, the competition remains fierce, and investors are left wondering if it’s time to run for the hills!
Is he saying that the price has peaked? But depending on investors’ profile and financial strength, he can either:
a. Stay put or
b. Cash out or
c. Do an 1031.
Go watch his talk. I went to a few of SJREI’s talks. They were all pretty great. If they still use the same venue as years past, they’ll meet at a hotel on El Camino in Sunnyvale at 7pm. Ticket is only $10 or so. Definitely worth the money to go see Bruce.
Threw away $30 for two and an half hours. He knows close to nothing about technology industry and dynamics of SFBA. He said he is a macro picture guy when someone asked for his view on SF and SV market. Many of his indicators don’t work on SFBA market e.g. time to sell as RE has likely peaked when inventory is less than 3 months… inventory is less than 1 month in many cities of SFBA. He said he is spending time to learn about SFBA market and will give an update when he has completed his study.
His view is that California as a whole has not reached a peak, his preliminary thoughts is the bull could last at least 5 more years, and that Fed interest rate won’t be higher than 3.5% 5 years from now.
Btw, he sounds like a flipper and a money lender, not a landlord.
So we are on our own for RE in SFBA … the market seems to break rules of RE investing… keeps going up despite warning signals that would bring other RE markets down.
Right. He’s I think one of the biggest hard money lenders in SoCal. He has a radio show which I listen to from time to time. Pretty solid guy from the radio material I heard.
I actually don’t think our region is that detached from all the other places. When real estate in the rest of the country went down the tube in 2007/8, we went with it. The best Bay Area can do is be like NYC. There NYC completely dominates a huge and very profitable industry in finance. Here we do the same for tech. But still we can’t be completely detached from the macros around us.
Last to decline (my neighborhood peaked in mid 2008) and first to recover (my neighborhood bottomed in mid 2009), slow climb for 2 years, then roared up…
when someone asked for his view on SF and SV market. Many of his indicators don’t work on SFBA market e.g. time to sell as RE has likely peaked when inventory is less than 3 months… inventory is less than 1 month in many cities of SFBA. He said he is spending time to learn about SFBA market and will give an update when he has completed his study.