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Chris Rodriguez  

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  • CMBS Bonds Downgraded on Special Servicing Action [View article]
    just being sarcastic.....
    Oct 29, 2009. 01:38 AM | Likes Like |Link to Comment
  • Real Estate Question of the Day [View article]
    I realize this. It was saying it facetiously. Those areas without dots are mostly no-mans land.

    On Sep 28 11:03 AM 2houndz wrote:

    > I could draw a map of the interstate system using those dots. Especially
    > across the west.
    > Chris - many of those areas with no dots also have no people. Ever
    > seen the movie "The Coca-Cola Kid"?
    Sep 28, 2009. 08:12 PM | Likes Like |Link to Comment
  • California's Inland Empire: Thoughts on Unnecessary Retail Building [View article]
    CommProp - contact me if you would like to discuss opportunities. I can't post anything about it here.

    On Aug 10 05:12 PM CommProp wrote:

    > Chris: good points. Can you give more specifics on subject site?
    > Am working with a couple of private equity groups looking for long-term
    > opportunities.
    Aug 26, 2009. 07:09 PM | Likes Like |Link to Comment
  • The Diminishing Value of Home Appraisals [View article]
    Zukadu - You are correct in that I am a broker. Where you are incorrect is in stating that I know nothing about evaluation. I have been involved in over 200 commercial real estate transactions as a broker. I have also purchased, owned and sold numerous commercial properties as a principal as well. I am well aware of how market value is established. I have not once used or looked at appraised value when purchasing a property on my own except to insure that the appraisal did not crater my financing. I don't need (nor do the majority or commercial real estate investors) a third party to tell me how much something is worth. Why do you think appraisals are not done until the end of a transaction? Do you think the buyer and seller are waiting for someone to confirm that their sales price is acceptable? On that note, I have never once seen an appraisal contingency in a purchase and sale agreement for a commercial transaction. If an appraisers opinion of value was so important to the parties, why would they not include such a clause?

    Kmi - I am in no way suggesting that the appraisal process is amateurish, simplistic or valueless. I am only saying that appraising property in a market moving this quickly is very difficult and potentially useless at this point. This is why I suggest the stringently conservative underwriting criteria of lenders has more than compensated for the lack of reliable appraised values. As far a brokers being the authoritative voice on values I must say they are damn close. If I am able to take a property and procure one or more ready, willing and able buyers to pay the price I suggest, even if that price seems unreasonable (too high) to the majority of the market, have I not proven or determined a market value? As for self interest, nothing could be further from the truth. I could care less about making an extra couple of thousand dollars by pushing the price of a property one or two hundred thousand dollars higher. My allegiance lies with the party I represent in the transaction.

    It should also be noted that the word "Home" was added to the title of this article by Seeking Alpha editors. I do not claim to be an expert in anything related to the resident market or transaction process. That may be where some of your confusion lies.

    Thanks for the feedback.
    Jul 28, 2009. 04:10 PM | Likes Like |Link to Comment