We Have a New President…
November 13, 2008 by Christe Roknich
At last, the presidential election cycle has ended. The new team is meeting with the old team, and preparing for the January transition.
Opinion is mixed as to whether or not the new administration and its policies will have a significant impact on the economy. If and when it does, everyone agrees that even with fast action, the changes to our nation’s financial condition will be gradual. The U.S. economy is more like a cruise ship than a speedboat – turning things around is a slow process, not a one-day event.
But with all this uncertainty, did you know that in Orange County there are 217 homes in escrow right now priced above $1,000,000, including 55 of these priced above $2,000,000? In a high-priced market, such as ours in Orange County, these numbers admittedly don’t impress. But…you may not realize, per the Southern California MLS, compiled by us today, that there are 3,639 properties in escrow priced under $1 million! Now that is an impressive number, and one worth highlighting. 3,639 homes in escrow….although fewer than in the market a few years ago, that’s still a surprising figure.
Picking a bottom in the market is often considered to be a “fool’s game”. If you think that we’re close, now might be the time to begin accumulating real estate again. Call us at (949) 240-5892, or send us email us to discuss your plans!
Celebrating Veterans’ Day
November 13, 2008 by Christe Roknich
The older I get…the greater the impact has been on me of the value of the men and women who serve and have served our country.
Maybe this is because I have met so many military families and veterans over our many years as a Realtor, many of whom have entrusted us with their real estate business. We get to know them and hear their stories…we get to know their families.
Veterans live on our street, go to our church and teach our children. Their wisdom and integrity are undeniable. Their contribution to our society and culture are critical. I never quite know what to say to veterans on this day. “Thank you for serving our country” seems terribly inadequate for their service and sacrifice.
My nephew, Chris Saenz will be starting basic training in the Navy tomorrow. This native Californian will get to experience Chicago and the Great Lakes first hand! Please keep him in your prayers as well as those who are currently serving our country.
To all the veterans and military families who may be reading this right now…a great big thank you from The Roknich Family!
“Love where you live…live where you love!
It all begins at home!”
Purchase Real Estate with Your IRA?
November 13, 2008 by Mark Roknich
Yes, it can be done! You can buy real estate for investment purposes in your retirement account. But let’s start with the caveats: first consult your financial advisor, your attorney, and of course, your spouse! We’ll handle helping you locate and purchase the property!
Not every account or account holder is eligible. Those of us with self-directed IRA’s are among those with the option of investing our retirement funds in a variety of products other than stocks, bonds and mutual funds.
For many years, it has been possible to benefit from the real estate market through investment in real estate investment trusts (REIT’s). REITs have been attractive for many reasons, including professional management, high dividend payouts, and appreciation of the underlying assets (the shopping centers, apartment buildings, office complexes, and so on). But now, in addition to REITs, investors can take a more direct route to owning the underlying property.
Of course, there are restrictions and rules. But some of the categories of real property, eligible for these programs, include:
- Single-family and multi-unit homes
- Apartment buildings & co-ops
- Condominiums
- Commercial property
- Improved or unimproved land
This article on real estate investing within retirement accounts from Investopedia is a good starting point for more information about this topic. Contact us or give us a call at (949) 240-5892 to discuss your goals and visions for increasing your real estate portfolio while prices are low.