Mauricio Umansky-Beverly Hills Luxury Real Estate

Mauricio Umansky and the Mauricio Umansky Estates team are responsible for representing Buyers and Sellers internationally with some of the most important world-class architectural estates. Mauricio prides himself for his ability to consummate and facilitate transactions, with both extraordinary customer service and by counting on his 11 years of experience and acumen for ?thinking outside the box?.

What excites me are the unique characteristics that each transaction has and the challenges that it brings.-Mauricio Umansky

For Contact

Hilton & Hyland
250 N. Canon Dr. Beverly Hills, CA 90210

Mauricio Umansky
Direct: (310) 858-5464
Mauricio@laluxuryestates.com


Eduardo Umansky
Real Estate Agent (310) 858-5464
eduardo@laluxuryestates.com

Manuela Villa
Executive Assistant Direct: (310) 858-5465
manuela@laluxuryestates.com

Filing a Complaint with the Department

Investigations are made by the Department of Real Estate's Enforcement Section on the basis of written complaints received from the public. To initiate an investigation, the DRE must determine two things.

That the individuals or companies involved are under the DRE's jurisdiction. The Department has jurisdiction over real estate licensees, subdividers and unlicensed persons who have
performed acts which require a real estate license. See License Status Check to find out if an individual or company is licensed by the DRE.

That the complaint relates to possible violations of the Real Estate Law or Subdivided Lands Law.

What We Can Do

We investigate complaints against real estate brokers and salespersons accused of misleading or defrauding consumers. If we can prove a violation of the Real Estate Licensing Law, a formal hearing may be held which could result in the revocation or suspension of the agent's license.

We investigate complaints against subdividers accused of violating subdivision laws. If we can prove a violation, further sales may be stopped until such time as the violations are corrected.

What We Cannot Do

We cannot act as a court of law, sowe cannot order that monies be refunded, contracts be canceled, damages be awarded, etc. If you have this type of problem, you should consult an attorney.We cannot give legal advice or act as your attorney.

How to File a Complaint

Review Complaint Form Information :(RE 519A)

Complete the Licensee/SubdividerComplaint (RE 519)form.

When Completing the Complaint Form

Provide a written explanation of the exact nature of your complaint.Summarize your complaint in a chronological manner using these guidelines:

1. Tell us what happened. Start from the beginning and describe the events as they occurred. Be specific as to what was said and who said it.
   


2. Tell us who was present during these conversations or acts.
   


3. Tell us when and where these conversations/acts took place.
   


4. Provide names, addresses and telephone numbers of any witnesses to the events described in your complaint.

Famous Real Estate Slogans

RE/MAX agency, residential and commercial real estate
Slogan: RE/MAX. Outstanding Agents. Outstanding Results.

REALTY EXECUTIVES International, full service real estate agency
Ad slogan: Realty Executives International. Experience excellence

L.J. Hooker, real estate agency with locations in Asia, New Zealand and Australia
Advertising slogan: L.J. Hooker. Nobody does it better

GMAC Real estate, Homes and Gardens Real Estate
Tagline: GMAC. Service You Deserve. People You Trust.

Century 21, real estate corporation
Ad slogan: Century 21. Real Estate for Your World.

NAR - National Assocation of REALTORS, USA
Slogans: NAR is The Voice for Real estate-We're REALTORS-Real Estate is our Life

Globe Real Estate Agency, Athens, Greece
Slogan: Helping you find the property of your dreams

Hasson Company Realtors, Portland and Vancouver
Advertising slogan: The sign of Experience

Ken Williams, Remax's real estate agent, Belleville, Trenton, and Quinte area
Slogan: If you can't sell your home..."I KEN"®

Patricia Burroughs, real estate Broker, Belleville, Ontario
Advertising slogan: Call Pat … for your Real estate Chat

Beverly-Hanks & Associates, real estate firm, Western North Carolina
Advertising slogan: The Best in the Business

Tanager Realty, full service real estate sales and marketing company, Lake Tahoe
Slogans: Integrity is Everything,The shortest distance between paradise and the place you call home.

Prudential Carolina Real Estate, Charleston, South Carolina
Motto: Doing Things For You Only #1 Can Do!

Coldwell Banker Real Estate Corporation
Advertising slogans: Coldwell Banker. Expect the Best-Where dreams come home-
The Power Tools To Sell Your Home

Glorie Lee & Rick Beyenhof (Tarbell Realtors), Upland, Claremont, Canada
Slogans: We Care About Our Clients-You get TWO REALTORS for the price of one

Edina Realty company, USA
Marketing slogan: Edina Realty. Beyond the sale

Paul Mancuso, real estate agent, Rancho Cucamonga, Beverly Hills, USA
Advertising slogan: I'm your REALTOR. Welcome Home.

ERA (Electronic Realty Associates) Real Estate, franchise system
Taglines: Always There For You-We Will Sell Your House, or ERA Will Buy It! (ERA Sellers Security Plan)

Beatrix, relocation services, Moscow, Russia
Motto: Beatrix. Quality living from the team that cares.

SALLY FORSTER JONES

Meet Sally Foster Jones- Your Number One Realtor

Sally Forster Jones does more than just lay claim to the title of: "leading REALTOR® expert on the Westside"-she has the proven track record to back it up. Her strength lies in her superhuman dedication and incredible talent for managing the details, no matter how complicated a transaction may become. Combined with a rich resume built on over three decades of real estate experience, she has found her own recipe for success that has served her and her clients well.

A self proclaimed "real estate junkie," Sally thrives on the relationships she creates and meeting the needs of her clients. She loves living and working in the Westside where she enjoys the city life as well as the sense of community. "You get the best of both worlds," she says of the area. "There is a unique tempo to the Westside lifestyle. It is sophisticated and cosmopolitan while still retaining a sense of casual elegance and a small town feel. Residents get to enjoy the outdoors, the beach and of course-the sunshine!"

Phone:310.281.3999
Address:9388 Santa Monica Bl, Beverly Hills, CA 90210
Website:http://www.sallyforsterjones.com/

Weekend hang on Thousand Oaks

Home at Thousand Oaks-California

Address: 2500 White Stallion Rd Thousand Oaks, CA 91361

Estimated Amount :$27,500,000
MLS Details : #09-407433
Area Details : 15,400 Sq Ft

Detail Information:
1. Room Details : 8 Bed, 11 Bath
2. Interior Featured : Built-in features, Dishwasher, Disposal, Microwave oven, Range and oven, Refrigerator, Carpet, Stone flooring, Breakfast area/room, Media room, Security features
3. Exterior Featured : Satellite dish, Guest house, Heated pool, Valley/canyon view

Property Featured :
1.Status: Active
2.Area: Thousand Oaks West
3.8 total bedroom(s),11 total bath(s)
4.Approximately 15400 sq. ft.
5.Style: French provincial
6.Master bedroom,Living room,Dining room,Family room,Kitchen,Den,Laundry room
7.Fireplace features: Living room, Master Bedroom
8.Swimming pool(s)
9.Central air conditioning
10.4 covered parking space(s)
11.Exterior construction: Stucco, Slab foundation
12.Spa/hot tub(s)
13.Den,Office
14.Laundry room.

Contact Information:
Presented by : Sally Forster "Sally" Jones
Office :310.281.3999
Website :http://www.sallyforsterjones.com/

In China, fear of a real estate bubble

BEIJING -- With property prices soaring in key cities, many investors and bankers worry that China has the next great real estate bubble waiting to be popped.

The Chinese government is worried, too. On Sunday, the nation's cabinet, citing "excessively rising house prices" in some cities, said it will monitor capital flows to "stop overseas speculative funds from jeopardizing China's property market." It also said that any Chinese family buying a second home must make a down payment of at least 40 percent.

For investors, many of the usual bubble warning signs are flashing. Fueled by low interest rates, prices in Shanghai and Beijing doubled in less than four years, then doubled again. Most Chinese home buyers expect that today's high prices will climb even higher tomorrow, so they are stretching to pay prices at the edge of their means or beyond. Brokers say it is common for buyers to falsely inflate income statements for bank loans.

Interview with A Real Estate Investor

Mike Veraldi, who has been in residential real estate investing full time since 2003.In his past life, Mike was an airline pilot for a large carrier. With cutbacks and furloughs becoming an almost daily occurrence in the airline industry, Mike decided to take a 6 month leave of absence to start investing in real estate and has never looked back.

Interview with Mike Veraldi

1.What made you decide to try real estate investing?
A friend of mine recommended it to me. I took some training classes and spent about $3900 learning the business. Then, I decided to take a leave of absence from the airline and gave myself 6 months to make back the $3900. I made $39,000 on my first transaction and was hooked.

2.What is the biggest mistake real estate investors make starting in the business?
Not listening to the advice of experienced real estate investors. I could have avoided many problems by just listening to what I was being told by experienced investors.

3.What was some of the good advice you received?
One of the best pieces of advice was to create joint ventures rather than partnerships. The only reason to have a partnership is if each person has a unique skill to bring to the table.

4.How do you find residential properties to purchase?
Any way you can think of. I have used signs, direct mail, tv advertising, internet marketing, billboards, the local mls....the list goes on and on. We have to be flexible and ready to change at any time. TV commercials used to bring in a substantial portion of the leads for buying properties then, it slowed to nothing. We shifted gears and tried other things. If it doesnt work, stop doing it and try something else.

5.What type of property seems to be the best deal?
The person you are buying from determines the deal, not the property they are selling. If you have a motivated seller, you can make a deal work. An unmotivated seller is a waste of time. Also, it isnt always the best profit that is the best deal. Ease of the sale is also a critical factor.

6.About how many hours per week do you work?
50.

7.Is it best to work alone or have employees?
You have to have key players to make real estate investing work. The first is a good, reliable source of capital. Second, a good real estate agent. Then, a closing agent and an attorney - they should not be one in the same. Lastly, a loyal and reliable contractor is a must.

8.What have you learned in dealing with these key players?
Pay for results. Reward on results. If you pay peanuts, you will get peanuts in return. Don't pay by the hour, pay by the job.

9.What about financing your real estate investments?
Traditional financing with a personal guarantee should be used very rarely and very carefully. Try to find private investors and hard money lenders. If you are well leveraged, you can do more deals at once. If you cannot afford the interest payments, then it's not a deal.

10.How much does a new investor need to get started?
Enough money to get properly educated and finance a marketing budget.

11.What about ongoing education?
Constantly. It can be hard when you get real busy with the daily grind of working; however, you have to keep educating yourself and learning new and better ways to run the business. If you arent willing to think outside the box and continuously learn, you are not going to succeed.

Two Indicted in Straw Buyer Scam

Dema Daiga, 28, College Park, Maryland, and Oluseun Oshosanya, 29, Laurel, Maryland, have been indicted for wire fraud and aggravated identity theft arising from a scheme to defraud a mortgage lending company of approximately $664,493.

According to the 12 count indictment, Daiga worked at times as a mortgage loan broker and had assisted with property appraisals. Oshosanya also worked in the mortgage lending field. From August to December 16, 2008, the defendants allegedly recruited straw purchasers to apply for mortgages. These straw purchasers lacked the income and assets to qualify as borrowers or make the monthly mortgage payments. The defendants allegedly: filled out mortgage loan applications on behalf of the straw purchasers with false information about the straw purchasers' employment histories, earnings and assets; provided telephone numbers that were under their control to any person calling to confirm the false information regarding the straw purchaser's employment and earnings; generated fake monthly bank account statements to make it appear that the straw purchasers had sufficient assets to make the down payments, when instead, the defendants paid the down payments; on at least two occasions, used stolen information about another person's identity to apply for mortgage loans; caused appraisals to be performed that inflated the property values; and instructed the title companies to send a substantial part of the loan proceeds to the defendants, or to businesses that they controlled.

7 tips for buying foreclosures

NEW YORK (CNNMoney.com) -- Foreclosures are dominating the housing market. Right now, there are 1.5 million such homes for sale, and more are expected to be available soon. That provides both opportunities and pitfalls for bargain hunters.Just because prices are low doesn't mean you should make snap decisions or buy something that isn't right. Here are 7 tips for making sure you don't get taken for a ride.

1. Don't get caught up in a feeding frenzy

Everybody and their grandmas are trying to buy foreclosures, said Glenn Kelman, CEO of Redfin, an online, discount broker. But that doesn't mean you should lose your head.Banks put repossessed homes back on the market at cut-rate prices because quick sales help avoid the expense of upkeep, such as property taxes, insurance, heat and electricity.

Those lowball prices represent golden opportunities, but they also attract dozens of buyers who may bid until homes are no longer bargains.Don't get caught up in a bidding war. Instead, carefully calculate what you want to spend and do not exceed that price.

2. Contact lenders directly

Smart buyers establish relations with asset managers at banks. This may reward them with inside information or first crack at new foreclosures hitting the market.

In the case of a short sale, for example, it can give the inside edge. If a buyer is pursuing a short sale -- buying a home for less than what the current owner owes on the mortgage -- she should talk directly to the property's asset manager. That way, if the short sale falls through and the bank repossesses the house, the asset manager knows she is still interested. It could lead to a quick sale without other bidders.

3. Get pre-approved from the lender you want to buy from

If you're trying to buy a property from, say Bank of America, it can help to get a pre-approved mortgage from Bank of America. Doing so may cause lenders to look more favorably on your bid if it's similar to others.

Plus, you're not locked in if other lenders offer you better terms. You can always change your mind and get your mortgage from another source.

4. Consider fix-ups

Most REOs, the industry term for bank owned properties, are sold as is. "The conventional wisdom is that banks will do nothing to the houses before the sale," said Kelman.

That can be problematic today because so many foreclosed homes are in less-than-mint conditions. Often, the former owners were struggling to pay their bills and may have neglected routine maintenance. Or, they may have trashed the properties before leavingIn 25% of cases, homebuyers persuade lenders to fix some of the problems before the sale closes. Most of the time, banks would rather sell the house to the next available bidder -- one who doesn't ask the bank to pay for repairs.

So be willing to consider a home that needs some work -- but budget accordingly.

5. Hire a real estate attorney

Once banks agree to sales, they often want to move fast and load contracts up with legal mumbo jumbo. As a result, buyers often do not have the time or expertise to figure all the angles.

The solution is to hire a real estate attorney -- even in states where home sales are usually completed without one. Considering you're making a six-figure investment, the legal fees are cheap insurance against the risks.

6. Wait to make an offer

Homebuyers may be well served to wait before making an offer. Let the house sit on the market for a few days, giving others a chance to set the bidding tone. Then jump in.

Talk to the agent selling the property, said Kelman. The agent may tip his hand. Call up and ask, Should I make an offer? What should I come in at? The agent may tell you he has offers at, say $300,000 and you should bid a bit higher, giving you an advantage over earlier bidders.

7. Tour properties with contractors

With so many REOs in seriously deficient shape, it's essential to go over every inch with someone who can spot problems and tell you how much it will cost to remedy them.

A foundation crack can be a minor problem or a deal breaker, and most ordinary homebuyers have no way of telling the difference. Like an attorney, a contractor can be very worthwhile insurance.

Home prices will rise next year

California housing prices will slowly pull out of the doldrums next year, although unemployment and the credit crunch will continue to drag on the nation's largest housing market, a forecast released Wednesday said.

The annual market forecast from the California Association of Realtors predicts a 3.3 percent uptick in the median price of a previously owned home, from $271,000 this year to $280,000 in 2010. That would mark the first increase since prices began tumbling in 2007. However, sales next year will drop from 540,000 this year to 527,500 homes in 2010, a 2.3 percent drop.Association economist Leslie Appleton-Young said the sales activity will likely be strong enough to support a price increase, although there are several variables that could derail expectations.

The wild cards for 2010 include foreclosures, loan resets, the labor market and the California budget crisis, as well as the actions of the federal government, she said.Economist Christopher Thornberg, a principal at Beacon Economics, said it's premature to forecast an end to the real-estate crisis because of the number of outside factors.

It's like saying the Dodgers are definitely going to win the game tonight. The wild card is how well St. Louis plays, Thornberg said.

Home Price Reduction Levels Drop to 2009 Low

RISMEDIA, December 11, 2009—Trulia, Inc., a real estate search site, has announced that 22% of homes currently on the market in the United States as of December 1, 2009 have experienced at least one price cut, the lowest level since Trulia started tracking price reductions in April 2009. The total amount slashed from home prices also dropped from $28.1 billion in November to $24.7 billion in December, representing a 12% decrease. The average discount for price-reduced homes slightly increased to 11% off of the original listing price compared to 10% in the previous four months. The number of listings on Trulia also decreased by 9% from the previous month.

South Reports Least Amount of Homes Reduced

The South has the lowest levels of price reductions, with 19% of current listings experiencing at least one price cut, a 21% decrease from the previous month. Kentucky, Louisiana, Arkansas Oklahoma and Mississippi are all seeing less than 15% of listings with price reductions.

(Regions according to the U.S. Census Bureau)

-South – 19% of listings with price reductions
-West – 20% of listings with price reductions
-Midwest – 22% of listings with price reductions
-Northeast – 25% of listings with price reductions

Cities experiencing significant increases in percentage of listings with price reductions from June 2009 to December 2009 include:

-Kansas City, MO – 40% increase in price reductions
-Omaha, NE – 39% increase in price reductions
-Houston, TX – 32% increase in price reductions
-Minneapolis, MN – 29% increase in price reductions
-Arlington, VA – 28% increase in price reductions

Cities showing signs the highest percentage of declines for listings with price reductions from June 2009 to December 2009 include:

-Las Vegas, NV – 30% decrease in price reductions
-San Jose, CA – 30% decrease in price reductions
-Long Beach, CA – 25% decrease in price reductions
-Honolulu, HI – 23% decrease in price reductions
-Albuquerque, NM – 22% decrease in price reductions

Luxury Market Still Hardest Hit

Luxury homes (those listed at two million dollars and above) continue to bear the brunt of discounts being offered with an average of 14% being slashed from the original asking price compared to 10% for homes listed under $2 million. Additionally, luxury homes represent less than 2% of all current listings on Trulia, but are responsible for 26% of the $24.7 billion in home price reductions.

Sleep at Montecito

Home At Delray Beach - Florida

Address: 1360 E Mountain Dr Montecito, CA 93108

Estimated Amount : $15,300,000
MLS Details : #09-2374
Area Details : 2.68 AcresDetail Information:

1. Room Details : 8 Bed, 12 Bath
2. Interior Featured : Exercise room, Breakfast area, Breakfast bar, Pantry, Water softener owned, Washer, Refrigerator, Built-in Oven, Gas stove, Dryer, Dishwasher, Disposal, Double oven, Microwave, Carpet, Tile floors, Wet bar, Remodeled kitchen, Remodeled bath3. Exterior Featured : Detached parking/garage, Pool house, Deck, Open patio, Dog run, Lawn, Fruit trees, Yard sprinklers, Fence, Sewer hookup, Security system, Elec security gate, Guest house.

Property Featured :
1.Status: Active
2.Area: MONTECITO
3.8 total bedroom(s),12 total bath(s),9 total full bath(s), 2 total half bath(s)
4.Approximately 2.68 acre(s)
5.Style: Medit
6.Master bedroom,Living room,Dining room,Family room,Kitchen,Den,Laundry room
7.Fireplace features: Living room, Master Bedroom
8.Swimming pool(s)
9.Central air conditioning
10.Lot size is between 2 and 5 acres
11.Exterior construction: Stucco, Slab foundation
12.3 car Garage
13.Roofing : Tile view
14.Ocean view and Water View.

Contact Information:
Presented by : Jim Scarborough
Office :(805) 879-8045
Mobile :(805) 331-1465

Selling-Interview with Real Estate Brokers

So your sister just introduced you to her friend Irving, a real estate agent,and now you can't get rid of him, right? Wrong! Choosing the right person to sell your home is one of the most important steps of selling. Therefore, choose wisely.At a minimum, speak with 2 or 3 brokers from different agencies. Ask prospective brokers the same list of questions, in order to compare their answers. Find out what they would do to sell your house.

Above all, choose a broker that you feel comfortable with and like. This person will help you make the biggest sale of your life, so find someone you think will do a good job!

The following is a list of questions that may be helpful to ask while speaking with prospective real estate brokers.

1. How many years have you been in business?
2. For how long have you sold houses in this area?
3. How many houses did you sell in the past year?
4. What is your commission?
5. If I were to work with you, how would you market my house?
6. Will you organize meetings with potential buyers and will you coordinate them personally?
7. Can you give me names and telephone numbers of other families that have used your services?

Real Estate Cartoons

Two Charged in Millon Dollar Mortgage Fraud Scheme

Dwight Jenkins, 38, Dorchester, Massachusetts and Eric J. Archambault 39, Wrentham, Massachusetts, were charged in an Indictment with multiple counts of wire fraud and money laundering in connection with a mortgage fraud scheme which generated more than $1 million in profits and sending nine properties into foreclosure.

The Indictment alleges that from about August 2006 through February 2007, Jenkins and his associates recruited "straw buyers" for the purchase of nine properties for which Archambault brokered the mortgages. The nine properties identified in the Indictment were individual units in triple-deckers at 77, 80 and 85 Draper Street, and 35 Harwood Street, all in Dorchester, Masschusetts. These properties had been converted to condominiums shortly before the sales to the straw buyers. It is alleged that, although the straw buyers took title to the properties and obtained mortgages to finance the purchases, none of the straw buyers actually intended to live in the condominiums they bought or intended to repay the loans. Instead, it is alleged that Jenkins and his associates promised the straw buyers that Jenkins, or his company, would pay the mortgages, maintain the properties, find tenants and then re-sell the properties. Jenkinsand his associates allegedly promised most buyers they would be paid a fee for the use of their names and credit histories in securing the loans.For Details Click Here

Home construction at lowest point in 6 months

Annual rate of construction falls 10.6% in October in a drop that surprises economists.

NEW YORK (CNNMoney.com) -- Home builders initiated construction of far fewer new homes in October than the month before, a big and unexpected drop for the struggling industry, according to a government report issued Wednesday.

Homebuilders began construction at an annual rate of 529,000 new homes during the month, 10.6% below the revised September rate of 592,000 and 30.7% below the 763,000 rate during October 2008. It was the lowest level of housing starts since April, when the annual rate was 479,000.

A panel of industry observers compiled by Briefing.com had forecast housing starts of 600,000 during the month. It was the second month in a row of dashed housing start expectations.The numbers stink, said real estate analyst Mike Larson of Weiss Research. They're negative across the board.

That weakness included the number of building permits issued in October, which fell to seasonally adjusted annual rate of 552,000. That was 4% below the revised September rate of 575,000 and 24.3% below the October 2008 estimate of 729,000.

The slowdown in construction means that there are many fewer new homes for sale, about 251,000 in all. That's the smallest inventory since 1983, according to Larson.

Loan modification scams by Jeff Davi

Michael Finney talks to Real Estate Commissioner Jeff Davi about the growing problem of loan modification and foreclusre scams.

HOME LOAN MODIFICATIONS

Because of the current economic situation, you may not be able to afford your mortgage payment. If you are also not able to refinance your home loan, an option that may be available to you is a Loan Modification.

What is a Loan Modification?

That is where you and your lender agree to modify one or more of the terms of your home loan. The terms could be a lower interest rate, an extension of the length of the loan (like making a 30 year loan into a 40 year loan), a conversion of an adjustable rate loan (called an ARM) to a fixed rate, the deferring of some of your payments, or any other modification of loan terms

Do It Yourself (and Do It As Soon As Possible):

You can contact your mortgage servicer and/or lender directly and request a Loan Modification that works for you and your lender. Don't wait to call if you cannot make or believe you will not be able to make your mortgage payments. Be persistent! - call back many times. Make detailed notes about your attempts to call, when you have left messages, who you speak with, what was said, and what offers are discussed and/or made.

About Jeff Davi:

On October 6, 2004, Governor Arnold Schwarzenegger appointed Jeff Davi as Real Estate Commissioner for the State of California. As Commissioner, Mr. Davi oversees the licensing and regulation of approximately 532,000 real estate licensees and is responsible for a staff of approximately 344.

Restrictive Growth Management Was A Necessary Condition for the Housing Bubble

To follow is an excerpt of a radio show interview conducted by Peter L. Mosca, host of Income Property Investment Talk with the Cato Institute's Senior Fellow Randal O'Toole who discusses a new study that examines how restrictive government policies choked off growth, encouraged localized housing bubbles, and triggered the current financial crisis.

Mosca: In the executive summary of your policy analysis, "How Urban Planners Caused the Housing Bubble," you wrote, "Everyone agrees that the recent financial crisis started with the deflation of the housing bubble" but let's get into what caused the bubble and why is it so important to understand its root causes. How will this help us in the future to know the causes that relate to fixing the credit crisis?

O'Toole: A lot of people blame the Federal Reserve Bank for keeping interest rates low and the Community Reinvestment Act for encouraging lenders to offer loans to marginal homebuyers. If you look at the data for individual states and metropolitan areas, you find there was a big housing bubble in California and Florida but there were no housing bubbles in places like Texas and Georgia even though Texas and Georgia were growing faster than California and Florida. So, why did California and Florida have a bubble and Texas and Georgia not? If you look at it in more detail you find only about a dozen states had big housing bubbles, a few more states had smaller bubbles, but the vast majority of states did not have any bubbles at all. It turns out that the states with housing bubbles were all practicing some form of what urban planners call 'growth management.' Urban planners for decades have believed that it was important for people to be packed into small urban areas. These urban growth boundaries ended up boosting the price of land inside the city and making housing more expensive. There was another consequence. Normally, there is a competition between cities and between cities and counties over how to attract development. Cities and counties want to get tax paying development so they compete with one another and then try to make it easy for developers to get permits to develop vacant land. Once an urban growth boundary has been drawn that competition is heavily restricted and nobody can develop outside the boundary so then cities begin to say as long as people can't go anywhere else, we might as well impose all kinds of restrictions and they develop an honourous permitting process that can take years to get a permit to put in a small subdivision. In a lot of cases they can make it impossible. They can make it so that there is a very high risk that you will never get a permit.

Mosca: Is there an example of this in our country?

O'Toole: One example of this is in Dallas, where it costs about $10,000 per home to get a permit to build but in San Jose, it costs $100,000 when you count the risk that you'll apply for a permit and after 5 years you'll never get one. The point is that these kinds of restrictions make housing more expensive. They not only make housing more expensive, they make housing prices more volitile. A small increase in demand can lead to a large increase in cost but a small decrease in demand can lead to a large drop. Instead of seeing housing prices grow slowly, we see these big bubbles and bursting of the bubbles and collapses and bubbles and collapses over and over again. We've already seen three major bubbles in California since these rules started being implemented in the 1970s.

Home At Delray Beach - Florida

Home At Delray Beach - Florida

Address: 1103 S Ocean Blvd Delray Beach, FL 33483

Estimated Amount : $23,000,000
MLS Details : $23,000,000
Area Details : 18,939 Sq Ft

Detail Information:

1. Room Details : 6 Bed, 8 Bath
2. Interior Featured : Rooms: Cabana Bath, Den, Family, Loft, Maid/In-Law, Utility-Laundry, Master Bath: 2 Master Baths, Bidet, Dual Sinks, Separate bath, Separate shower, Dining Area: Formal Dining room, Other Features: Built In Shelving, Cook Island, Elevator, Entry Level Living, French Door, Laundry Tub, Pantry, Upstairs Living, Vol Ceiling, Wet Bar, Walk In Closet, Furnished: Furnishd Only, Flooring: Concrete, Marble, Wood, Bedroom 2 is: 15x15, Bedroom 3 is: 17x16, Bedroom 4 is: 19x17, Bedroom 5 is: 22x16, Utility room is: 10x8, Master Bedroom on Ground Level
3. Exterior Featured : Auto Sprinklers, Covered Balcony, Covered Patio, Open Balcony, Open Patio, Porch is 40 x 18

Property Featured :
1.Status: Active
2.Area: PALMBEACH-OCEAN BREEZES
3.6 total bedroom(s),8 total bath(s),7 total full bath(s), 2 total half bath(s)
4.Approximately 18939 sq. ft.
5.Style: Lt 4 Floors
6.Master bedroom,Living room,Dining room,Family room,Kitchen,Den,Laundry room
7.Fireplace features: Living room, Master Bedroom
8.Swimming pool(s),Pool features: Pool is 36 x 18, Heated, Inground
9.Central air conditioning
10.Inclusions: Equipment: Dishwasher, Disposal, Dryer, Ice Maker, Microwave, Range, Refrigerator
11.Utilities present: Cable, Public Sewer, Public Water
12.Garage
13.Pets allowed
14.4 or more car garage.

Contact Information:
Presented by : Pascal J. G. Liguori
Office :(561) 665-8177
Mobile :(561) 278-0100
Email : pascal@premierestateproperties.com

October Listings Report (2009)

Data tables for all new listings tracked in the month of October 2009

As of November 1 Total Listings on Market

Item	Total Units	Previous Month
Total Listings On Market	372	430
Total Listings Listed as Foreclosed	63	63

New Listing Data

Item	Month of October	Previous Month
New Listings Total	92	88
New Listings Listed as Foreclosed	46	32
Average Asking Price Per Unit	$137,748	$158,623
Median Asking Price	$99,900	$119,000
Average Asking Price Per Square Foot	$88	$96
Units Re-Listed	9	9
Units Already Under Contract	25	14

New Listing House Data

Item	Month of October	Previous Month
Living Area Square Footage	1,556	1,644
Bedrooms	3.09	3.16
Bathrooms	2.08	2.13
Garage	1.86	2.0
Year Built	1990	1993

Price Range of New Listings in October

Item	Lowest	Highest
Listings	$25,000	$699,000

Data tables for all new Units under contract tracked in the month of October 2009

As of November 1 Total Units Under Contract

Item	Total Units	Previous Month
Total Units Under Contract	143	127
Total Contracts Listed as Foreclosed	70	61

Units Under Contract Data

Item	Month of October	Previous Month
New Contracts Total	84	62
New Contracts Listed as Foreclosed	47	36
Average Marketing Price Per Unit	$116,697	$133,579
Median Marketing Price	$102,000	$110,000
Average Marketing Price Per Square Foot	$74	$81
Days on Market to Acquire a Contract	90	92
Average Marketing Price Reduction	$8,738	$14,793

New Units Under Contract House Data

Item	Month of October	Previous Month
Living Area Square Footage	1,585	1,642
Bedrooms	3.17	3.13
Bathrooms	2.04	2.11
Garage	1.77	2.0
Year Built	1993	1995

Price Range of New Pending Contracts in October

Item	Lowest	Highest
Listings	$36,900	$274,900

Year over year data listings/pending contracts

Listings

Item	UP/DOWN	unit/dollar amount	Percentage
Total Listings	DOWN	220	(37%)
New Listings September	DOWN	8	(8%)
Average Price per New Listing	DOWN	$63,689	(32%)
Median List Price	DOWN	$52,000	(34%)

Pending Contracts

Item	UP/DOWN	unit/dollar amount	Percentage
Total Pending Contracts	UP	68	90%
New Contracts for September	UP	37	79%
Average Marketing Price per Unit	DOWN	$48,147	(29%)
Median Marketing Price	DOWN	$32,200	(24%)