Excuse me. I keep referring to the $700 Billion as a "bailout." The new politically correct term is "financial rescue plan." Call it whatever you wish, but the reality is the Washington politicians have killed the chance, at least for today, of passing a bill to address the turmoil on Wall Street.
And what about Main Street as this bloody fiasco unfolds. We have the largest liquidity crisis in modern times.
Banks are not lending money this last week. The jumbo loans are going away for homes. First time buyers are disappointed at the prospect of not moving their family into that new home. Second mortgages are disappearing. Sellers cannot sell properties they need to dispose of, and buyers needing a roof over their heads will have to wait. Interest rates are rising, pricing people out of real estate.
A reality--employers cannot borrow money to make payrolls this week. Employee layoffs, if not occurring today, will actually start tomorrow morning. Small and large businesses cannot borrow to buy inventories to stay alive. Consumers can forget financing that new car. College students are facing the reality of fading college loans. Do you have money in an IRA, 401K or pension plan that is invested in stocks as most of us do? Then 7% of your retirement funds just evaporated in one day with the 777 point drop in the Dow as the House failed to pass a bill.
This is not the end of the world! But it sure feels like it this week. Let's hold our politicians accountable for this mess, whether we believe this bill should have been passed or not. Where is our leadership? This is America and its people deserve the best.
Sanity will return to our economy at some point. Hold on tight for this roller coaster ride as the "courageous," partisan politicians continue to blame each other and worry about getting re-elected if they vote the wrong way.
Now...here's my real estate pitch. Bless those brave investors who are liquid and have cash at this point in time. They are the ones who can buy real estate and financial assets and start us on a turnaround to recovery. They deserve to have the large gains they will make by buying low now and selling higher later.
Members of the U.S. Congress announced early Monday morning, September 28th, that they reached an agreement to the $700 billion bailout of the financial markets. The House of Representatives is voting on the bill on Monday morning and the Senate is expected to vote on Wednesday. President Bush has expressed support for the bill today.
After two weeks of turmoil in the worldwide financial markets, coupled with a strong resistance from main street Americans, Congress and the President have agreed to a structured bailout. Now it is time for the media pundits to wade through the details of the plan and explain how the taxpayer will be affected.
Of interest to most of our readers will be the positive and negative impacts to taxes, interest rates, mortgages and foreclosures. Many buyers and sellers of residential real estate have been frozen for the last week and reluctant to make a decision until more clarity is brought to the situation. Our commercial clients are continuing with their real estate plans, but watching the economic situation carefully.
Some of our clients who have been heavily invested in the stock market told us they were rapidly selling their stock out of the market for the last two weeks to invest in real estate. After seeing their holdings erode as the stock market declined they are ready to invest in the bargain real estate prices that exist in the Colorado market.
The Colorado Association of Business Intermediaries (CABI) held its 2008 Annual Conference in Denver this week. The association is composed of members who are Business Brokers, Intermediaries and Commercial Real Estate Brokers who broker transactions for the sale of businesses and related real estate sales or leasing.
The keynote speaker was Steve Mulhauser from the Small Business Administration (SBA) Colorado District office. He presented a number of significant changes in SBA Lending regarding appraisals for commercial real estate and business valuations. Other topics presented at the conference included: "Deal Structuring Techniques" by Christian Blees, CPA; "Use Retirement Funds to Purchase a Business" by Larry Carnell of BeneTrends; "Strategic Partnerships" by Earl Kemper, a wealth advisor; and "Specializing in Your Success" by Shawn Sanborn, CEO of Sanborn and Company.
The Colorado Association of Business Intermediaries is a non-profit trade association whose primary purpose is promoting education, professional standards and cooperative communication among Business Brokers and Intermediaries. All of our Business Broker and Intermediary members are licensed Real Estate Brokers in the State of Colorado, to ensure a high standard of professionalism.
See our website at www.ColoradoProCommercial.com .
Leaders in the Senate and House announced a breakthrough in the negotiations for the White House $700 billion bailout at 12:30 a.m. EST on Sunday, September 27th. The announcement makes it clear the legislators have agreed in principal and will commit the agreement to paper overnight and expect to sign it during the day on Sunday. Asian markets open on Sunday afternoon and Congress is rushing to meet that deadline. The problem began with bad real estate loans and the record number of foreclosures and declines in home prices. Then the financial markets were rocked by a number of collapses and mergers. The announcement did not give details of the tentative plan. The devil remains in the details.
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Contact us with all of your real estate needs. We make our promise to provide you professional, conscientious service with a goal of exceeding your expectations.
Steve Hewson ABR, GRI, MRE, RECS, SRS, TRC, REALTOR® Professional Experience Our Commitment
Real Estate Consultant / Broker Owner
Steve has over 15 years of residential, investment and commercial real estate experience. Prior to receiving his real estate broker's license, he served in the corporate roles of Chief Financial Officer and Chief Executive Officer where he developed a diverse background in residential, industrial, office, retail, apartments, construction, development, and mergers and acquisitions. His commitment as a REALTOR® to client satisfaction and hard work has earned him his clients' trust and loyalty.
"Contact us with all of your real estate needs. We make our personal promise to provide you professional, conscientious service with a goal of exceeding your expectations. Thank you for using our professional consulting services." - Steve
Your Complete Source for Colorado Real Estate
You have our team of dedicated real estate professionals assisting you throughout the real estate transaction - from start to closing. Steve Hewson, The Residential Group and The Commercial Group are able to offer more quality and individualized service to you in a faster and more attentive way. You will see and feel the difference when you experience our level of service. And on top of this, we will use leading edge technology to dramatically improve the speed, efficiency and innovative capabilities of every part of the service we deliver. We don't expect you to care about the fine details of the inner-workings of our office. What you should care about is simply this...you are choosing professionals to work for you to create a seamless buying, selling or investing experience. Steve Hewson and The Residential Group have built a network of support professionals from mortgage brokers to inspectors to closing specialists who are all at your disposal since you are the client. We have REALTORS® available in our office who can speak the following languages: English, Spanish, Chinese/Cantonese, Hungarian, Italian, Vietnamese, and Cambodian/Khmer. We can save you time, stress and money, regardless of which side of the real estate transaction you are on. Let us take care of the details for you.
When you buy or sell a home, or invest in a property, you are making one of the most important financial decisions in your life. You want to be certain you are using a real estate professional who will work for you throughout the process. The interests of you, our clients and customers, come first. We provide you with professional, conscientious real estate services using a streamlined process at a pace consistent with your needs. Selling a Home When you are ready to sell your home or another property, you will be able to take advantage of our full range of advanced seller marketing resources. Buying a Home We have many buyer resources to assist you in your search to buy the right home for you. We also help you determine your borrowing capacity and we have lender sources qualified to find the right loan for you.
Residential Real Estate Services
www.ColoradoProRealEstate.com
Investing When you acquire investment real estate, we help you locate the right property, and then assist you in the evaluation of its investment potential. If you are selling an existing real estate asset, contact us for our advanced marketing resources.
Commercial and Investment Real Estate Services
www.ColoradoProCommercial.com
Office · Industrial · Retail · Land · Investment · Apartments
Professional Real Estate Services When you buy, sell, lease or invest in a commercial property you want to be certain you are using real estate professionals who will work for you throughout the process.
Our Commercial Services You have access to our extensive range of integrated services: Brokerage, Leasing, Development, Consulting, Real Estate Management and Business Brokerage.
Satisfied Clients The interests of you, our client, come first. We provide you with professional, conscientious commercial real estate services, using a streamlined process at a pace consistent with your requirements.
Advantages for Our Clients We achieve success for you, our commercial client, by seizing strategic opportunities for you; moving rapidly with streamlined processes and client communications; and providing you with information to make informed financial decisions.
Results for Clients You can rely on our full array of services because you know that we will handle each transaction and each investment with the creativity, energy and perseverance needed to get you the results you need.
Investor Services When you purchase investment real estate, we help you locate the right property, and then assist you in the evaluation of its investment potential. When you want to sell an existing real estate asset, contact us for our advanced marketing resources. We are also available to assist you with a 1031 tax-deferred exchange.
Local Expertise...International Reach Our experience and business scope extend both nationally and internationally, while maintaining a local focus on the Colorado Metro Denver-Boulder and Front Range commercial markets.
The KW Commercial Group You have our experienced KW Commercial® Group and a network of dedicated real estate professionals assisting you throughout the real estate transaction, from the beginning to the end.
Steve Hewson ABR, GRI, MRE, RECS, SRS, TRC, REALTOR®
Real Estate Consultant / Broker Owner
Professional Experience
Steve has over 15 years of residential, investment and commercial real estate experience. Prior to receiving his real estate broker's license, he served in the corporate roles of Chief Financial Officer and Chief Executive Officer where he developed a diverse background in residential, industrial, office, retail, apartments, construction, development, and mergers and acquisitions. His commitment as a REALTOR® to client satisfaction and hard work has earned him his clients' trust and loyalty.
Our Commitment
"Contact us with all of your real estate needs. We make our personal promise to provide you professional, conscientious service with a goal of exceeding your expectations. Thank you for using our professional consulting services."
- Steve Hewson
Professional Memberships
Education and Designations
Success Stories: What buyers, sellers and others say...We thank our loyal clients who have taken the time to write these testimonials. We recognize that our client's referrals and repeat business are responsible for the continued success of our business.
I wanted to thank you for all the hard work you put into making the deal happen. You will definitely be HIGHLY RECOMMENDED! Thanks again.
Your dedicated work ethic provided me with consistent follow up and communication to keep me on top of everything.
I want to say thank you for all of the hard work, excellent advice, excellent knowledge of the [real estate] industry, and your high standard of ethics...
Selling or buying, Steve will deliver the level of services you require to make it happen.
I truly appreciate your professional demeanor and approach to the real estate brokerage business...Thanks for resurrecting this transaction.
Thanks again for all of your hard work and effort to bring this transaction to a successful closing.
We chose you to be our real estate broker when we saw the level of professionalism you displayed when we first met you.
We want to thank you for all that you have done for us. We certainly appreciate everything.
Thanks for your dedication to keeping this deal moving forward. It was a pleasure to work with you.
Thank you for all of your hard work!!!
Steve, by the way, excellent tenant representation on your behalf.
We enjoyed your positive attitude and your professionalism.
I can never thank you enough for your help...You are the best!
Thank you for working so hard.
I just had to thank you so much and tell you that you are the best real estate agent that I've ever met.
You delivered on what you promised.
You were accessible when I needed you.
You are a wealth of information. Thank you for all of your help.
Thank you so much for all the time and effort you took in selling our house. It was nice to know we could count on you even when we were out of state. Thanks, Robyn and Scott
Your services exceeded my expectations.
Thanks for working so diligently on this contract. You are a fabulous real estate agent!
You really go the extra mile.
THANK YOU for all your hard work on this deal!
I am very happy with your service.
...I have nothing but praise for his skills and ethics in all phases of the transaction. He brought to these transactions his broad experience, honesty and competence...Steve worked diligently to achieve the best possbile results to the satisfaction of the clients; I found his work, character and office manners, the true meaning of professionalism.
Steve is very honest, reliable and responsible.
We really appreciate you going above and beyond...
Your service is excellent.
Thank you for your effort in making a difference...you are awesome!
Thanks for your hard work. It's appreciated.
Thanks again for everything...all of your time and assistance. We really appreciate that, and we will always keep you in mind for ourselves or others in the future.
Thanks for the new and hopeful energy you are bringing to the project.
Thank you for all of your hard work and support in working with us.
Thank you for your hard work and efforts.
I would gladly recommend you to others. I will use you again.
You have to be the hardest working guy in real estate...Thanks!
Thanks Steve for all your hard work.
What a pleasure to work with someone who knows what they are doing...Nothing is better than a good transaction.
I so appreciate all of the work you have done.
Thanks Steve...You've been refreshing to work with.
I wanted to thank you for taking the time to help me...I greatly appreciated your advice.
Thank you for working so hard. Your service is excellent.
It's refreshing to find a realtor that is honest and knows what they're really doing.
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"Dear Steve, ...Your professionalism, thoughtfulness, and diligence exemplify some of the traits found only in the best. I would like to wish you much success and achievement as you continue to grow your business. Thank you for representing Keller Williams Realty in such a truly amazing way!"
-Gary Keller, Chairman of the Board, Keller Williams Realty
"Dear Steve...On behalf of Gary Keller, Mo Anderson, Mary Tenant and the entire team at Keller Williams Realty International, we want to thank you for your leadership in driving our company's phenomenal growth!...Keller Williams Realty succeeds through people like you...Thank you again for contributing to this company's awesome growth."
-Mark Willis, CEO, Keller Williams Realty
"Dear Steve...The Keller Williams Colorado Region would like to take the opportunity to congratulate you... We are proud to have you as a member of our Keller Williams family."
-Al Alba, Colorado Region President, Keller Williams Realty
"Dear Mr. Gary Keller, I just wanted to share with Keller Williams the relationship and overall experience I have had with Mr. Steve Hewson. First of all, let me say that Keller Williams could not have a better representative for their company. Steve's professionalism and communication skills are second to none...Steve has gone way above and beyond what we have ever seen in the real estate business...he kept us well informed throughout the entire transaction!...Steve was the ultimate communicator on all of the details. His calm demeanor truly helped in lessening the anxiety of the total experience..What separates people in general is a sense of true sincerity and passion for what they do. Steve embodies all of these traits. Through all of the adversity Steve remained positive and upbeat...I would recommend Steve Hewson without reservation to anyone who needs a true real estate professional to represent their interests. I cannot begin to say enough wonderful things about Steve Hewson so I am asking anyone who really wants to know to please call or email us."
-Sincerely, Charles Martin and Carole Laman
Trust n.v. 1. reliance on the integrity, strength, ability, surety, etc., of a person or thing; confidence. 2. confident expectation of something; hope. 3. to have trust or confidence in; rely or depend on. Webster's College Dictionary
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