So Cal Real Estate News

UPDATE: Katelyn Elizabeth Newman checked was born at 3:16 a.m. Wednesday morning, 5/28, weighing in at 8 lbs 6 oz, 20 inches. Mom, Dad, baby, grandpa Dave & others all tired but doing well. Film or at least photo at 11. Hopefully.

Guess I’m getting a little first-hand help with that whole keeping real estate in perspective thing we’ve been posting about periodically. (See “A Memorial Day perspective on our housing market,” “A little perspective,” or “A little more perspective.”)

Although Blair & I had been expecting his wife & my daughter Beth to go into labor this week with their second child, I was still caught a little off guard when Kaiser checked her in after her weekly check-up this morning.

It’s now over 12 hours since they started the ptosin to induce her, & she might be working on it all night. Meanwhile, after visiting Beth at the hospital, moving cars, & taking care of some preparation work on a new listing this morning, good old “Papa Dave” has been providing day care for Beth’s two year old daughter & her almost two year old cousin.

So that promised “Tale of Three Listings” post is still in my head rather than on this blog. Sorry.

Don’t even have time to post about all the interesting real estate news today, although it’s pretty much what we’ve been predicting all along.

Hopefully we’ll have some posts up shortly. Maybe a baby picture too.

Just more evidence that, regardless of the market’s crazy cycles, life does go on.

And there really are things in life much more important than real estate.

Editorial note: This special Memorial Day post is part of our continuing effort to keep a proper perspective on material things in general and real estate in particular. For others, scroll down to “Categories” in the right hand column & click on “Perspective.” Our promised “Tale of Three Listings” post should be fairly soon, once Beth delivers her baby.

Warning: This post has a spiritual emphasis. You’re free to disagree or skip it but please don’t complain about it. There really is more to life than real estate.

Got up this morning to see my neighbor’s flag up for Memorial Day. Their son-in-law, Dusty, woke up this morning in Iraq.

He’s one of millions of Americans who have risked their lives so you and I could wake up this morning in a free nation. Since the Revolutionary War was fought 230 years ago, hundreds of thousands of America’s best have paid with their lives for things we too often take for granted.

These brave men and women certainly deserve a flag flying in front of every home and business today and a “Moment of Remembrance” as tokens of our gratitude.

A day like today helps keep our current economic woes in perspective, as do the recent tragedies in China, Burma, & Oklahoma. People have lost their children and their homes, & I’m upset about losing a little equity or the price of gas.

Yesterday in church Pastor Chuck spoke about how little regard we should really have for those material things that consume too much of our time. He thought St. John’s description of heavenly streets “paved with gold” helps put material “treasures” in perspective.

Reminded me of an old joke about the multi-billionaire who supposedly talked God into letting him to take some of his wealth with him after he died. When he met St. Peter at the Pearly Gates, he was pulling a huge trunk behind him which he had filled with gold.

“Sorry, you can’t take anything with you,” old St. Pete told the billionaire.

“Actually, I’ve got special permission,” replied the billionaire.

“Sounds fishy to me, but I’ll check it out,” said Peter, picking up his Verizon wireless Voyager [unpaid product placement].

After a minute talking to Central Processing, Peter put down the phone with an amazed look on his face. “I’ve never seen anything like this before, but you’re right–you can bring it in with you. Now I’m curious–would you mind showing me what’s in the trunk?”

Proudly, the wealthy old guy opened up his suitcase to show shining blocks of gold.

Peter looked at it & scratched his head. “Asphalt?”

In America, at least, it’s too easy to sacrifice things that really matter for temporal things that don’t. Many of us live as if money were our God.

Luke 16:13-15 reports an interesting discussion Jesus had with some money-loving fundamentalist religious leaders of his day.

“No servant can serve two masters,” he said, “for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”

I’ll let Dr. Luke tell what happened next:

The Pharisees, who were lovers of money, heard all these things, and they ridiculed him. And he [Jesus] said to them, “You are those who justify yourselves before men, but God knows your hearts. For what is exalted among men is an abomination in the sight of God.”

Shocking, but true. When it comes to money, “What is exalted among men is an abomination in the sight of God.“

Jesus spent a lot of time teaching those who would listen to value God and people above all, and to trust God to provide our daily needs. (See, for example, Luke 12:13-34, where he really puts it all together.)

Blair and I hope you enjoy your Memorial Day. Put out the flag, spend some time with the family, & maybe take some time to recheck your priorities. With God’s help, we can all live lives that make a difference, and leave this life with more than a trunk full of asphalt.

Today another chaotic day on the world’s various “Wall Streets” coincided with mop-up operations for me on a six unit apartment building. By the end of the day I was reminded that the basics work in any market.

As Solomon put it 3,000 years ago, “Be sure to know the condition of your flocks, give careful attention to your herds; for riches do not endure forever. . . .” (Proverbs 27.23-24).

Or, in my case, to the condition of your fire extinguishers. Today I figured out that my procrastinating on some fire prevention upgrades on this building may have contributed to the loss of four of the units and to making five families temporarily homeless. Fortunately, there were no serious injuries.

As I walked through the rubble with the insurance adjuster this morning, what saddened me most was the ruined possessions of the families that lived there. Ash covered family photos and drawings taped to the charred walls. A heart with a child’s printed “I love you” tossed in the rented dumpster. Clothing & furniture tossed, by residents I knew had no renters’ insurance to reimburse them.

Then came the conversation with the the resident who attempted to put out the grease fire on his neighbor’s stove. “If only we could have found a fire extinguisher, we might have been able to limit it to the stove,” he told me.

Ironically, three hours before the fire started, I was in a fire prevention store ordering fifteen fire extinguishers. Delivery is scheduled for next week. I’d intended to get around to it months ago. I thought we had some extinguishers in the office, but also thought we should try some wall mounts outside, in cases, to see if we could make them more accessible while minimizing vandalism.

I had been thinking about mounting one just outside the door of the unit where the fire started. A $60 expense that might have prevented a $100,000 loss. Solomon got it right–pay attention to the basics. Know what’s going on. Don’t get so caught up in what the market’s doing or in what’s new to neglect the basics.

We still need to keep up with current trends. We’re getting more resident leads from Craig’s List today than from newspaper ads, for example. But the basic, unglamorous things like fire safety, grounds keeping, resident selection and screening, cost containment, client satisfaction are still what will make or break any business. That goes for rental property and for home ownership.

Part of the problem is that the Urgent is rarely Important, and the Important is rarely Urgent. But that “stitch in time” still can save nine stiches later.

The city Fire Chief recommended 5 pound (net) rechargeable fire extinguishers with metal heads & spouts, rated ABC (trash/wood, grease, & electrical fires). Actually at least 2A10BC. Around $40 at Lowes, slightly less in quantity at Maintenance USA. Roughly another $35 for the safety case. You might want to pick up one to keep near your kitchen or garage at home. And at least one more for any rental properties you own.

The same principal applies to what’s much more important than possessions: Family, relationships, health, friendships, our walk with God. Pay attention! Don’t neglect the important for the urgent. Keep your priorities straight. Do some preventative maintenance. It’s easier to install fire extinguishers than to gut & rebuild apartments, but apartments can often be rebuilt much easier than relationships. It’s far easier to fix ruined buildings than ruined lives.

That’s not to say there isn’t hope for even the most hopeless situation. That’s just one of the many wonderful messages of Easter. Just today I passed a church with a sign, “Nothing is Too Hard for God.” Guess someone knew I needed that today. Just like eleven discouraged disciples 2,000 years ago, after their Messiah was arrested, unjustly convicted, and crucified. But, as one of my favorite sermons says, “It’s Friday, but Sunday’s coming!” God can redeem any situation if we let him.

But the first step could be to prevent the situation from getting any worse. Take it from someone who learned that lesson the hard way!