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This week Bruce Norris is joined once again by Chief Economist for The California Association of Realtors, Leslie Appleton-Young.

This week Bruce Norris is joined by Chief Economist for The California Association of Realtors, Leslie Appleton-Young.  Bruce and Leslie …

Bruce Norris is joined once again by Chief Economist and Director of Research for the Real Estate Center at Texas A&M University, Dr. Mark Dotzour.

This week, Bruce Norris is joined by Chief Economist and Director of Research for the Real Estate Center at Texas A&M University, Dr. Mark Dotzour.

Bruce is joined once again by the experts at TNG: Craig Hill the hard money loan officer, Andrea Jennings the agent, and Greg Norris the property buyer.

To wrap up 2007, Bruce Norris takes some time to interview TNG team members Craig Hill (hard money loan officer at The Norris Group), Andrea Jennings (Realtor), and Greg Norris (Property Buyer). Together the four talks about what they’ve seen in 2007 and how quickly the market has shifted.

Bruce Norris is joined once again by California foreclosure expert Ward Hanigan. Bruce and Ward in this session discuss new litigation which could mean big trouble for lenders, the bill being introduced that would allow “cram downs,” the lost art of assumptions, selling real estate today in San Diego, what Ward’s students are doing now, why the real estate industry at large was so unprepared for the downturn, percentage hit in price in San Diego so far, the rental market, predicted bottom of the market, Ward’s favorite title holding entity, the Land Trust, three different entities to hold properties, and subject to.

Bruce Norris is joined by Southern California foreclosure expert and president of ForeclosureForum.com, Ward Hanigan. Bruce and Ward discuss how Ward got started in the forclosure business, investing in the 1980s, why Ward went for a law degree, Ward’s early mentors, California trustee sale market in the 1980s, what the trustee sale market is doing now, Ward’s Dingbat Retirement Program, how he has set up a reoccurring income stream, what properties he finds attractive, why tenants can make or break an investment, finding your customer and finding out what they want, Section 8, how San Diego has changed since late 2005, current conversion rates of trustee sales, deal breakers when looking at trustee sale properties, Ward’s take on the new subprime solutions, what lenders will be dealing with in 2008.

Bruce Norris is joined by REO agent and owner of Market Point Realty, Steve Silva. Steve and Bruce talk about how busy Steve has quickly become, how fast the market has changed compared to the 90s, the willingness of lenders to work out deals with borrowers, why the borrower and lender can’t seem to make it work, how the chain of command has made things worse, inventory this cycle compared to the last downturn, the new phenomenon of builders packing up and waiting for the market to return, the requirements of being an REO agent, what an REO agent is very busy doing these days, the REO process, why comparable sales aren’t always a good benchmark to use when deciphering real value, vacancy rates, and the recent purchase of an auction property that was Steve’s listing that he’s managed for almost one year and the journey he took with the bank.

In this second interview, Christopher Thornberg and Bruce Norris discuss how builders are adjusting to the new California real estate reality, how builders are notoriously optimistic, why builders continue to build, inflation pressure and why it’s hard to predict, consumer spending, when the subprime peak will occur, possible policy changes and the presidential elections, how property taxes will cause problems for cities around the nation, employment, out migration, and the commercial market.