Abdallah's Blog

Dollar Hit Record Low. What about Character?

2007-11-21T10:21:26Z

What's this I hear about the dollar hitting record lows against the Euro, Yen and the Pound. All over the news we hear how the looney is now a couple percentage points above the dollar. Naturally, financial conditions of any nation is a reflection of the character health index. Don't you agree? Let me explain. Such was the case of earlier civilizations and empires. Character of a people is the key indicator of economic strength and growth of a nation. Take Character out of the picture and you get a demise of any person and consequently any nation.

"Character is like a tree and reputation like its shadow. The shadow is what we think of it; the tree is the real thing." - Abraham Lincoln

Stocks are lower, oil is at record highs. You would think the sky is falling or something. Well, it's not falling in Tennessee nor Georgia. Record droughts have dried the water sources and now political debates are springing up to determine water rights. Housing woes are not making things any easier. How many families were affected by the subprime fiasco, companies get to right these off as losses - ummm, excuse me - what happens to the families?

"Character is destiny."- Heraclitus

Detroit is named the least safest city in the nation by CQ. You can't even purchase a home in some areas since police stations have been closed and fire departments reduced. There is a funky report that in some areas ants will dismantle your home (especially a newly rehabbed home) and take the pieces (yes, even the bricks) underground.

"Nearly all men can stand adversity, but if you want to test a man's
character, give him power." - Abraham Lincoln

Then you read in the LA Times the following article: Why L.A. police nixed plan to map Muslims. Not sure what to think. How about an ankle bracelet to go with that? Won't that look stylish in the Tinsel town.

"The forbearing use of power does not only form a touchstone; but the manner in which an individual enjoys certain advantages over others is a test of a true gentleman. The power which the strong have over the weak, the magistrate over the employed, the educated over the unlettered, the experienced over the confiding, even the clever over the silly; the forbearing and inoffensive use of all this power and authority, or the total abstinence from it, when the case admits it, will show the gentleman in a plain light. The gentleman does not needlessly and unnecessarily remind an offender of a wrong he may have committed against him. He can only forgive; he can forget; and he strives for that nobleness of self and mildness of haracter which imparts sufficient strength to let the past be put the past."- General Robert E. Lee

On the other hand, asking someone in Calgary, Dubai, Rio or West Africa for example about their economies, they'll have nothing but rosey pictures to draw of their regions. I can't help myself but wonder about their people's character and mine. We have to ask ourselves, has our character changed. What did we gain/loose? Then there is all that talk about recession and the eminence of a downward spiral. I'll have to take a good look in the mirror, and ask myself starring it in the eye: "Would you work on your Character, the economy needs it!"

"God grant that men of principle shall be our principal men."
- Thomas Jefferson

Let's Pool our resources together & Buy a house

2007-10-14T03:07:36Z

Assuming there exists an Action Committee on Active|Rain - (If there isn't, I would like to create one)

We all know the state of the market today - the seller's are eager to sell, but the buyer's are not willing to buy until the prices get slashed further. As real estate professionals, we see this clearly since we have to deal with it on a daily basis. Price Reductions are the new fad - the home values are getting skewed causing further price reductions.

Winter is coming and if you have a house for sale, you have either taken it off the market or have rented it out or are reducing the price in an attempt to get rid of it without profit - WHY???

On the other hand, we all know that this is cyclical, right? And things will have to give. I recommend that we put together an Action Committee that scouts and invests in opportunities that individually we wouldn't be able to purchase. Does that make sense? It is like public radio pledge drive - but for real estate. These properties can be commerical, residential, industrial, etc.. Most importantly, they are either at a drastic discount or are income produciing - or both of course. The Action Committee reaches out to the memebers interested and asks for their support. Once the tide turns around and the market is different, the Action Committee dissolves after liquidating assets and distributing profits.

Oh, one more thing - the local Seattle market is great for this - but that doesn't have to be the only market.

Let me know what you think.

DO NOT IGNORE REAL ESTATE ACTIVITY ON KITSAP

2007-10-10T02:03:10Z

Ever wondered what the process in the background was and at what point in time did the construction applications for all those building permits for the cranes in Bellevue take place. Ever wondered, what does it take - in time - to conceive an idea, purchase a piece of land, and then apply for appropriate City licenses and then put up a crane to make an architectural diagram become a reality?

Well, as a real estate professional, you have probably thught about this many times. What is happening in Bellevue and Renton and many other Seattle metro cities today is very refreshing and awe-inspiring to say the least.

If that is the case, have you not asked yourself how come I was not approached by the investors and builders 5 years ago about investing in the Bellevue skyscrapers or just recently with the Landing project, or for the heck of it - what I personally thought would be a perfect Sonics arena location. Well, let's say I did approach you five years ago and said, let's invest in Bellevue - what would you have said? Think REAL hard. What would you have needed to make a call on this decision? And if you went along and invested in these properties, would you be better off today.

With this in mind, let me introduce you to a similar opportunity with a local Northwest company that is located on the Kitsap Peninsula that is currently doing exactly that in Kingston, Bremerton, Silverdale, Poulsbo & Bainbridge. This compnay has purchased multiple lots of land and have drawn the designs, and negotiating approvals with the cities and are planning the construction. Before you know it, the cranes will be up.

Here are some examples of projects that a currently taking place in Kitsap by a local company, Nor'west Urban Solutions (http://www.norwesturban.com/reprojects.htm)