Realtor Coaching & Training: real estate information
You have to admit…there is more than a bit of irony in the fact that the Mortgage Bankers Association just sold their DC offices for 50% less than they paid at the peak of the bubble.
Yep, you read that right…they did a SHORT SALE!
Remember this when you read about the banks playing “morals police” with upside down homeowners..they try to manipulate homeowners into less than ideal mods or keeping their upside down homes all the while THEY are dumping their own toxic assets…
Even the pros are taking a beating. The Mortgage Bankers Association, its membership expert in real estate, sold its $90 million headquarters in downtown Washington on Friday for $41 million.
The three-year-old, 10-story building at 1331 L St. NW — built just before the office market soured — was bought by the CoStar Group, a commercial real estate information firm that plans to move its headquarters from Bethesda to the District. The city, which has been negotiating with CoStar for several months, offered the company a $6 million break on its property taxes to lure it from Maryland.
“We have a huge demand for space for our headquarters. This was too great an opportunity to pass up,” said Andrew Florance, chief executive of CoStar Group. “It’s a quality building at a rock-bottom price,” he added. “We think we’ll save tens of millions of dollars over the next decade.”
The sale comes as commercial real estate troubles are rapidly multiplying in the Washington area. At least 20 percent of commercial properties in the region are worth less than their mortgages, experts say, compared with less than 1 percent before the recession.
WOW…20% of the buildings in DC are upside down! Amazing.
The Mortgage Bankers Association moved into the building in 2008 just as the real estate market was crashing, and ended up paying millions of dollars more when interest rates rose.
OOOPs…so the Mortgage Bankers got caught by a adjustable rate mortgage….again, IRONY!
Moreover, the leasing market slowed considerably and the association had trouble getting other tenants into the 168,000-square-foot building.
The industry lobbying group has struggled financially in recent years, as the market collapsed and lending dried up, with members dropping out as they lost their jobs. Its membership fell to 2,500 from 3,000, officials said in 2008.
Florance said the association will remain in the building for about six months and then find a new home.
Messages left with the Mortgage Bankers Association seeking comment were not returned.
“It’s a little bit of irony that in the middle of the mortgage crisis brought on by the bad lending practices of many members of the Mortgage Bankers Association that they got caught up in the same problem,” said Dean Baker, co-director of the Center for Economic and Policy Research, a liberal research group.
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HREU Superstar
In case you didn’t receive your email invite for tomorrows Superstar Interview…here it is:
Hello,
This is your class reminder. You need this information for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, June 26th at 12:00pm Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW..http://instantTeleseminar.com/?eventid=7626306
Now, on to the surprises…Have you read the latest breaking real estate information on the blog? Stay ahead of the curve, read the blog NOW.
Everyone is talking about Twitter. We just created a new Twitter How-To video for you. This video will show you exactly how-to get started on Twitter. Watch Twitter video NOW.
You will love this one…We want you (yes, YOU!) to become our co-author for one of our newest books “Should I Short Sale My Home”. Watch the video now and learn how you can become our co-author. Watch co-author video NOW.
Interested in a F-R-E-E Coaching Call? Let us help you anytime you need it. Remember, our mission is to do whatever it takes to help you thrive in this market. Request your coaching call NOW.
Thank-you for the honor of being your coaches,
Harris Real Estate University
866-422-9497
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Hello,
Listen to the replay of this weeks Superstar Interview NOW.
Featuring…
Dan Hollings. This is the second part of this interview.
Here is the information for your schedule:
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://HarrisRealEstateUniversity.com/urlforward.php?job=AdhnOwTqBs&link=2&recip=5feb16cb70669e3
Also, don’t forget to read the new posts on the blog. We are updating the
blog with new vital real estate information at least once per day. As you know
HREU is always focused on keeping you way ahead of the curve.
Here is the link to the blog:
When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Remember, stay connected with Harris Real Estate University.
Speak with you soon!
HREU, Student Services.
P.S. Would you like to schedule a free coaching call with a HREU coach?
Go here now to schedule: http://harrisrealestateuniversity.com/freestuff.php
P.S.S. Earn money now when you send a new student referral to HREU. Here is how it works…email us the same time
(more or less) they are signing up.. coachjulieharris@gmail.com and we will pay you $97! Easily pay for your coaching
programs from sending us referrals!
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Hello,
This is a reminder for you to attend this weeks HREU Superstar Interview..
Here is the information for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, October 31st at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://HarrisRealEstateUniversity.com/urlforward.php?job=lLdNsh1lgO&link=1&recip=APCSEgOAKiicJhW
Also, don’t forget to read the new posts on the blog. We are updating the
blog with new vital real estate information at least once per day. As you know
HREU is always focused on keeping you way ahead of the curve.
Here is the link to the blog:
When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Here is the link to the the video channel:
Remember, stay connected with Harris Real Estate University.
Speak with you soon,
Tim and Julie Harris
P.S. Would you like to schedule a free coaching call with a HREU coach?
Go here now to schedule: http://harrisrealestateuniversity.com/freestuff.php
P.S.S. Earn money now when you send a new student referral to HREU. Here is how it works…email us the same time
(more or less) they are signing up.. coachjulieharris@gmail.com and we will pay you $97! Easily pay for your coaching
programs from sending us referrals!
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Hello,
This is a reminder for you to attend the
HREU Realtor Superstar Interview Featuring Dan Green!
Here is the information for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, September 12th at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://HarrisRealEstateUniversity.com/urlforward.php?job=kj2g5oZiNb&link=1&recip=%RECIP%
Also, don’t forget to read the new posts on the blog. We are updating the
blog with new vital real estate information at least once per day. As you know
HREU is always focused on keeping you way ahead of the curve.
Here is the link to the blog:
When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Here is the link to the the video channel:
Remember, stay connected with Harris Real Estate University.
Speak with you soon!
HREU, Student Services.
P.S. Would you like to schedule a free coaching call with a HREU coach?
Go here now to schedule: http://harrisrealestateuniversity.com/freestuff.php
P.S.S. Earn money now when you send a new student referral to HREU. Here is how it works…email us the same time (more or less) they are signing up.. coachjulieharris@gmail.com and we will pay you $97! Easily pay for your coaching programs from sending us referrals!
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Join us for the Free Super Star Interview..
Featuring Harris Real Estate University Superstar
Jeremy McChesney.
Here is the information for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, August 29th at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://HarrisRealEstateUniversity.com/urlforward.php?job=eHu2SC9l28&link=1&recip=bynHq8mQwqZfTDe
Also, don’t forget to read the new posts on the blog. We are updating the
blog with new vital real estate information at least once per day. As you know
HREU is always focused on keeping you way ahead of the curve.
Here is the link to the blog:
When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Here is the link to the the video channel:
Remember, stay connected with Harris Real Estate University.
P.S. Would you like to schedule a free coaching call with a HREU coach?
Go here now to schedule: http://harrisrealestateuniversity.com/freestuff.php
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This is a reminder for you join us for the Friday Realtor Superstar interview.
Here is the information for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, August 8th at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
Also, don’t forget to read the new posts on the blog. We are updating the
blog with new vital real estate information at least once per day. As you know
HREU is always focused on keeping you way ahead of the curve.
Here is the link to the blog:
When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Here is the link to the the video channel:
Remember, stay connected with Harris Real Estate University.
HREU, Student Services.
P.S. Would you like to schedule a free coaching call with a HREU coach?
Go here now to schedule: http://harrisrealestateuniversity.com/freestuff.php
Popularity: 1% [?]
