Self Driving Cars! Here they come, Ready or Not!

Whether you are ready or not, self driving cars are coming.

The set back is, at least in California and Nevada, a person MUST be sitting in the drivers seat!

I don't think I am ready for this, because I can barely sit still in any other seat in a car anyway.  And, Yes, I am a back seat driver.

This control while driving has been and will probably be, for the rest of my life, a mental -- giving up of control while driving -- problem.  So, relinquishing control over driving my car to a computer, is one of those "things" I don't want to do.  Sorry.  But, I like driving.  I like pretending I am always in a race.

So, please enjoy the self driving accident story below -- even IF the self driving cars were NOT at fault.

http://www.usnews.com/news/business/articles/2015/05/11/ap-exclusive-self-driving-cars-getting-dinged-in-california

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

Retired NFL Players Go Broke/Bankrupt within a few years of retirement!

I have written about this subject in previous blogs before.  And, I find this to be a crying shame.

After earning such a large sum of money in such a short time span: How do players end up broke or bankrupt?

My other question is: How do I reach these young men and try to educate them to NOT spend every dime they earn on intangible assets that lose value over time?

I realize that the athletes families don't help much because they are expecting (in some cases demanding) a lump sum payment for just being related to the athlete.

But, I still say, the best way to handle a greedy relative is to just give them an income rather than the lump sum they are demanding.  (And hiring a strong financial planner is the best way to go.)

http://fivethirtyeight.com/features/theres-a-difference-between-broke-and-bankrupt-for-ex-nfl-players/
(You may have to copy and paste in your browser to read.)

The end result of this, is pretty sad.  But, IF the athlete would contact me, I could show them how acquiring an income property could help them pay incomes to the greedy relatives of theirs.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

Real Estate Investors! Banks now trying to use auction process to increase market value of their REO's!

For some reason, Banks are now using the Internet auction process, in an attempt to sell their REO's.

The bad news for the banks is that they will be dealing with the same stubborn buyers who feel that the current asking prices are too high.  And, that bringing the property to auction will NOT increase the value of their REO holdings.

However, whether the property "Sells" at auction or not, the stronger banks are going to hang in there tough and continue to focus more on the maximum value they can get for their properties through this process.

Recently, one REO property I had been watching, did sell through the auction process for slightly more than what it would have sold for through the normal real estate sales process.

What this tells me is that this property's current value -- for example -- is roughly $4 million.  Bringing the property to auction, still only made the property worth the +/- $4 Million.  (Just so you know, there were no comparable sales or any other evidence that would have made this property, overnight, increase in value at all.)

So, what can I do?  The only thing I can: which is to tell the Listing Agent or Owner, “I can get you an offer for "X" amount for your property.”  The Agent or Owner usually replies that they can find a buyer for their price.  Unfortunately, my only reply is: “Good Luck!”

  

(To give you some background information, several years ago, I sold a client’s last owned shopping center in which I was able to get him the highest price per square foot for a shopping center in Las Vegas at the time.  But, since that was a few years ago, he’s (conveniently) forgotten that fact.)

So, a fellow property owner, who knows little or nothing about the declining market area they are in, “thinks” he can get someone from out of the US to badly overpay for my client’s property!

The unfortunate part of this is that this is starting to happen in reality.  Last year, a Chinese investment group overpaid for a Walgreen's located on the "Strip."  Now, there are better valued properties around the entire Las Vegas valley that are worth looking at.  But, as with most investors outside of Las Vegas, they only think of Las Vegas as a Resort lined “Strip” of land.

But, if you investors would open your minds and wallets, you will find -- to your surprise -- good deals still here but outside of the “Strip.”  And, the investor that decides to believe me will be one happy camper down the road.

For more Information about Las Vegas Commercial Investment Real Estate Property, contact David Howes at: david@davidhowes.net OR 702-501-9388!