Family Office of Key Biscayne Florida

I have been a member of The Family Offices of Key Biscayne Florida since 2019. Recently, we have made the decision to work more closely as I have become a vetted charter member. Until now, I have been using my membership as a drawing board to keep up with the latest   information regarding the financial world.

Looking into the new year this will change as we become more involved with the services that they offer, including: marketing, accounting, personal wellbeing and leading a balanced life.

Our membership in this organization has introduced me to business leaders around the world and some of most influential people in the finance industry in the United States. I will be name dropping soon!

For those of you who are unfamiliar with the term Family Offices, these are families that want to perpetuate their wealth. Stocks, bonds and real estate investments are not enough. They seek out the cutting edge opportunities in all industries, and will invest $50,000 on an ice cream truck or a hundred million on a medical device company.

We look forward to working with them more closely as we move into 2024!                                                

Oops! Its Been a While

Oops! It’s been a while. Sometimes life gets in the way of your routine, but we have good stuff here to talk about. The number 1 question nowadays in real estate is are we in a bubble? There are several reasons why I don’t see this happening immediately.

1. Inventory: The availability of single family homes is still notoriously low. Additionally, there is so little new construction for purchasing condos and single-family homes, it will keep the property values high for years to come.

2. Underwriting: Residential mortgages, due to the pandemic, have reached a new level of caution. People are still being approved, but they are looking through every document with a fine-tooth comb.

3. Equity: Almost all residential property has equity that continues to grow every day. What this means is that even if we all had a 20% loss of equity in our homes today, we would still be in good shape. Very few properties would be underwater (meaning homeowners owe more than the property is worth).

4. Caution: Although unemployment is skewed by covid, federal and state unemployment will be listed in September, and the main cause of 2008 crash is that people started losing their jobs at a fast rate. By 2010, the unemployment figures were underreported because they did not count gig workers or self-employed.

Rates are still low! Our residential and commercial loan volume is up.

We are still putting people into houses and helping people sell their homes!

We can help you regarding all things real estate! Please contact us.

Have a safe day!

-Jim Riccardi

339-224-2919

For My Capital Market Clients

I just got back from the Opal Club Meeting in Newport. Let’s face it, Newport is one of the best places to be in the summer. The upscale crowds, the yachts and the restaurants all lead to a great business atmosphere.

For those of you who don’t know the Opal Group, it is the largest family office  group in the world and provides the opportunity to meet sophisticated investors. One of the feature speakers at the conference was my client and friend Kamil Homsi, founder of Global Realty Capital .

For my capital market clients, you should consider scheduling an appointment with me to explore the investments that these groups and companies offer. You will be pleasantly surprised.

MUCH MORE TO COME REGARDING FAMILY OFFICES!

Have a safe day!    

Jim

Why Carson Morgan?

With Jim away on business, you will be hearing from me this week. I am the operations manager at Carson Morgan making sure your deals run smoothly and close efficiently. I would like to answer an important question for you in the blog post: Why should you use Carson Morgan for your real estate needs?

Firstly, we are a boutique real estate firm who takes on a limited amount of clients. This ensures you get our full attention on your deal. We are fully engaged with you, and our top priority is making sure we get to closing with as little hassle as possible.

Regarding our residential and commercial services, our attention to detail and Jim’s expertise is unmatched. Every real estate firm will market your property, take pictures, and list it on MLS. That is not what you are hiring your agent for. 

While talking to a client early this week, Jim mentioned something that really highlights the services we offer. He said: “A real estate agent’s job is not to sell your home, it is to help you navigate everything that follows when the contract to purchase is signed”. This is the key with Carson Morgan. Jim’s expertise in working in real estate for 20+ years gives you an advantage in helping your deal get closed. He will help you navigate all the pitfalls that come after the purchase is signed, such as: the purchase and sale agreement, escrow, negotiation, etc. This is where a great real estate agent separates himself from the pack, and Jim prides himself on assisting you through this process.

Regarding loans, Jim’s experience and relationships he has forged in the industry allows him to make sure your loans close as easily as possible. He has seen everything, and he embraces helping challenged borrowers get the loans they need to move forward in life.

That is what separates Carson Morgan from the pack, our attention to detail, all while operating with our client’s best interest in mind. Get you a real estate agent and loan originator that has seen it all and anticipates problems with your deal before they even arise.

Please call us if we can assist you, you will see firsthand that our service is second to none.

Thanks,

Nicholas Alexander

617-240-7450

Are You Ready?

Are you ready? It has been a trying time for us all this past year.  The new ERA is beginning. We will be more understanding business owners, we will strive to give our employees the support that they deserve and we will listen to our clients.

If we don’t, we have learned nothing in this past year. We here at Carson Morgan are more organized, more focused and more engaged. Our priority is our staff and clients, offering their thoughts and ideas. Trying not to judge but listen with understanding .

Are you ready? I bet you are!

RECOVERY

Yes, it is time for recovery. Businesses are ramping up to handle new challenges as the pandemic slows. What are we here at Carson Morgan seeing?

Restaurants: Yes they are hurting, but outside of a few spectacular failures (AKA Legal Seafood, which has seen declining numbers for years), most of our favorites are open. We did a search for a client who needed some catering space in North of Boston. They thought they would buy a small restaurant and convert it. We looked in ten towns and there were only four places to look at!

Hospitality: Has a long way to go. With no international travel in the Boston area and financing at a standstill, it will be awhile before it recovers.

Office Space: Still at zero absorption, but with companies bringing employees back to the office things are looking brighter. Especially if you are a smaller company looking to move up at a DISCOUNTED rate!

We here at Carson Morgan LLC are optimistic for a good end to this year!

STILL NEED TO HAVE A SAFE DAY!

Thanx,

JR 

A Changing of the Guard

Just about 12 months ago the world as we know it came to a stop! The biggest change I noticed was how people did business. Everyone took a step back, then some started moving forward again.

In one organization I observed the older agents shutting down completely, while the younger ones continued to move forward and work. The final figures are in, and the younger agents are now number one in sales for this organization!

How did they do it? They never stopped working. They continued to stay in touch with their clients, execute their marketing plans, and studied how to stay safe from Covid-19 while still working every day. In other words, they never stopped!

 I have noticed that in hard times some companies took a step back, but soon they will be able to step forward again, and they won’t look back.  

 I saw this happening in these organizations, and I followed the young agents. Now Carson Morgan is ready to step forward again into a full recovery period.

 Thanks to all my young friends who showed me the way!

Should I stay or should I go

SALES UP, SALES DOWN. OPEN UP, SHUT DOWN. GO OUT, STAY HOME. GET A SHOT, GET SHOT. SELL, BUY!

Yes, these are crazy times for sure. We can’t help but feel the optimism of the new virus figures and the release of the vaccines. We are all ready at the quick!

My good friend Kamil Homsi of Global Realty Partners reminds us when it comes to investing, “stick with what you know.” We here at Carson Morgan couldn’t agree more. If you are a small real estate investor, review your portfolio now. See what rates you have and what repairs you may need to maintain your property. Rates may never be this low again! Cash out or lower the amount of years you are making payments; everything should be considered.

Please don’t forget that we can assist you in your needs, and we specialize in ALTERNATIVE FINANCING. No tax returns are needed in many cases. If you have been turned down, PLEASE CALL US!

Also, please be diligent in your pursuit of happiness.

Have a safe day!

-JR

Real Estate Market Update

The real estate market continues to boggle the mind. Despite high unemployment, residential markets continue to see prices escalate. Low interest rates and a lack of inventory are fueling this phenomenon.

But what causes this? Over the past 20 years, cities and towns have systematically held back new construction. It is called the “drawbridge effect.” They have imposed layers of building guidelines that are exceedingly difficult, impeding new construction. Most towns never have a housing or building master plan. Now that housing has become a national problem, we hope to see some easing of these restrictions. Additionally, due to COVID-19, restrictions and changes in work life and home life (kids schooling from home), people are leaving the city for the suburbs. We will be addressing these problems as the year goes along.

If you are thinking about buying this year, remember you need to get pre-approved! Be sure to contact us for help.

-JR

We're Still Here!

The world caught the flu and everything stopped. Less than 5 months ago we had no idea what COVID19 was and now we talk about it 24/7. For us baby boomers it will be the defining moment in our lives.

The hurdles will be immense :

• What about our retirement?

• What about our children and their families or relatives and friends?

• What about the economy ?

All serious questions and the last one cannot be ignored. We can’t afford not to look at how we are going to generate income.

At Carson Morgan we are still here ready to help you to get through this pandemic.

We can answer your questions about unemployment benefits, the DTA food stamp program, the PPP payroll plan, forbearance, modifications and especially loans to small business through the SBA [look for more specifics on this soon] or…

If you just want someone to talk to…WE ARE STILL HERE ! Give us a call.

HAVE A SAFE DAY !

New Programs

The lending industry is rolling out many new programs from the purchase and refis of single family homes to large commercial products .

Many variations on the old no income verification programs have emerged...you can use bank statements, personal or business...these are available for residential and commercial type loans…

Also look for more options on reverse mortgages...some will be taking borrowers at the age of 60!

You should know that we at Carson Morgan are experienced in all of these programs.   

Rates

Well interest rates are  down again!!...If you own any kind of real estate you need to take a hard look at where you are in your life cycle and review your mortgages...there maybe savings in it for you !!...If you do be sure you look at the length of your mortgage.

Family Offices

So I just got back from the Family Office Meeting in Key Biscayne, Florida…2 days of  spending time some of the wealthiest family offices in America. 

You can see the quandary these investors are facing. Having been on a rising economy for the last 10 years...interest rates still falling ..prices are still rising.. CAUTION HAS REARED IT’S UGLY HEAD!!  

They are flush with money but nowhere to put it..wish all had that problem!

The busiest attendees?...The marijuana booth!! 

Winter Interest Rates Low

Winter is on us quickly this year…cold, snow, snow blowers and plows! Early December is a reminder that we do live in a winter climate for sure.

It is easy to forget our mortgage and real estate needs at this time of year…heck, I would be doing the same thing! However, this year you MUST keep in mind that interest rates are low and one should be reviewing their real estate and mortgage needs - you will be happy you did!

Remember, be it residential or commercial, getting pre-qualified is essential. We now have NO INCOME VERIFICATION PROGRAMS FOR RESIDENTIAL AND COMMERCIAL lending!!! So please call us with any questions.