The Norris Group Real Estate Radio Show and Podcast

This week Bruce Norris is joined Robert Hockett.  Robert teaches financial and business law subjects at Cornell Law School, where his research and writing focuses on the legal and institutional prerequisites to a just and prosperous economic order.  He is also a fellow at the Century Foundation, a commissioned offer for the New America Foundation and consultant to a number of financial institutions, regulators, and legislators.  Prior to entering legal academia, he worked at the International Monetary Fund and served as a judicial clerk for the Honorable Deanell Reece Tacha, Chief Judge of the U.S. Court of Appeals for the 10th Circuit.  He was educated at the University of Kansas Oxford University, where he studied as a Rhodes scholar.  Robert also authored a memorandum entitled It Takes a Village Municipal Condemnation Proceedings and Public/Private Partnerships for Mortgage Loan Modification Value Preservation and Economic Recovery.  Bruce and Robert primarily discuss eminent domain and his recent report as well as what is happening in the market, especially in San Bernardino, as well as the controversial Kilo case on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined once again by Mark Dowling, Steve Manos, and Paul Herrera of the Inland Valley Association of Realtors.  Mark serves as the Chief Executive Officer for the non-profit Inland Valley Association of Realtors, while Steve Manos is the current president and Paul Herrera the government affairs director.  The primary focus of today's show is government eminent domain.  Bruce, Mark, Paul, and Steve discuss eminent domain in terms of the Cal Trans freeway expansion, the research on the city ordinance in Oakland, perverse incentives being created by government programs, the tax liability and legal ramifications from eminent domain, who owns the loan when eminent domain is successful, cram-downs and how it differs from eminent domain, and much, much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined by Mark Dowling, Steve Manos, and Paul Herrera of the Inland Valley Association of Realtors.  Mark serves as the Chief Executive Officer for the non-profit Inland Valley Association of Realtors, while Steve Manos is the current president and Paul Herrera the government affairs director.  Bruce, Mark, Paul, and Steve discuss the percentage of short sale inventory in the market, the number of sales in the market currently, the escalating market, the ease of receiving a loan today, the impact of REOs on the market, the Homeowner Bill of Rights, foreclosure alternatives are that the legislation wants to be available, and much, much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined once again by Rick Sharga.  Rick is an executive vice-president at Carrington Mortgage Holdings, LLC.  Rick is one of the nation’s most frequently quoted sources on foreclosure, mortgage, and real estate trends.  He has appeared on NBC Nightly News, CNN, CBS, NBC, ABC, CNBC, Fox, and NPR.  Rick is a member of the Board of Directors of REOMAC and the president of the Technology Council of Southern California.  Bruce and Rick discuss how Rick handles trustee sales, the new challenges in the market, the shift from lender rights to people in foreclosure rights, the percentage of borrowers upside down, the change in the percentage of FHA loans to credit scores, the real estate market in the coming years, and much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined  by Rick Sharga.  Rick is the executive vice-president at Carrington Mortgage Holdings, LLC.  He is one of the nation’s most frequently quoted sources on foreclosure, mortgage, and real estate trends.  He has appeared on NBC Nightly News, CNN, CBS, NBC, and just about every possible outlook.  Rick is also a member of the board of directors of REO Max and president of the Technology Counsel of Southern California.  Bruce and Rick discuss what his job as the vice-president of Carrington entails, the company itself and how it was started, bulk purchases of loans as well as loan pools, the concentration in the location of loans, foreclosure laws, the increase in rental properties and rates, Rick's plans to create a REIT,  and much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined once again by Leslie Appleton-Young.  Leslie is vice-president and chief economist for the California Association of Realtors, a statewide trade organization with over 150,000 members dedicated to advancement of professionalism in real estate.  Leslie directs the activities of the association’s member information group.  She oversees the analysis of the housing market and brokerage industry trends, member communication, and membership development activities.  She also is closely involved in the association’s strategic planning efforts and is a well-known speaker in California.  Bruce and Leslie discuss the increase in the percentage of equity sellers, buyers today compared to 2006, REOs and shadow inventory, the percentage of inventory sales in California, household formation, the status of Fannie and Freddie in the future, Proposition 13, and much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined by Leslie Appleton-Young.  Leslie is vice-president and chief economist for the California Association of Realtors, a statewide trade organization with over 150,000 members dedicated to advancement of professionalism in real estate.  Leslie directs the activities of the association’s members investment group or information group.  She oversees the analysis of the housing market and broker industry trends, member communication, and membership development activities.  She also is closely involved in the association’s strategic planning efforts and is a well-known speaker in California.  Bruce and Leslie discuss the current market and how we are doing compared to past years, the increase in median prices, the supply of short sales in the market, the percentage drop from the peak of the market to the bottom in early 2009, the change in inventory in the last few months, the nothing-down loan program Bruce and Sean O'Toole discussed in Washington, what the market was like at the peak in 2007, California compared to the rest of the country, and much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris joined once again by Lance Martin.  Lance is broker/owner of Coldwell Banker Pioneer Real Estate.  He has been in the business since he was 19 and is usually involved in short sales and REOs.  This radio segment focuses heavily on short sales.  Bruce and Lance discuss short sales and how they are more common in today's market, the long process for handling short sales, the process banks are going through to clean up their bad portfolios by paying people to do a short sale, the increase in short sales in the hard money loan business, the reason for short sales to get denied, and much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris joined by Lance Martin.  Lance is broker/owner of Coldwell Banker Pioneer Real Estate.  He began his career in real estate at 19 and has mostly been involved with the REO side of the business for over twenty years.  Bruce and Lance discuss his work with REOs and when the REO business peaked, his definition of a normal market, the affect loan modifications would have on the REO business, Lance's thoughts on the bulk sale and rental program, and much more on this week's real estate radio show and podcast.  Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined once again by Philip Tirone.  Philip has been an entrepreneur from the start, buying and selling gold and silver in elementary school.  He later established a car audio resale business in high school.  As a mortgage broker he created 720creditscore.com to help his clients increase their credit scores and improve their financial situation.  Originally a book and a workbook, the product expanded to become an infomercial, a teleseminar, and an online wealth enhancement course.  Bruce and Philip discuss in great length about how the logic does not make sense with credit scores now, high-priority and low-priority errors, the purpose of Philip's webinars and programs, the problem of overlays in the market today, decisions made when you are dealing with small credit unions and small regional banks, good changes lenders are now making, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined by Philip Tirone.  As a mortgage broker he created 720creditscore.com to help his clients increase their credit scores and improve their financial situation.  Originally a book a workbook, the product expanded to become an infomercial, a teleseminar, and an online wealth enhancement course.  Bruce and Philip discuss how Philip has been an entrepreneur most of his life and how his early life led him to the work he does now, his priorities now compared to when he first started working in the industry, his one-on-one time with Bruce and other coaches to help in his work and other areas, the kind of services his website 720creditreport.com offers, how he established the website by using his own credit score as a guinea pig, the people Fannie, Freddie, and FHA are loaning to now compared to earlier, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined once again by James Spiotto.  James is a partner with Chapman & Cutler Law Firm in Chicago.  He is an expert on the municipal bankruptcies, and he produced a document called A Primer on Municipal Debt Adjustments that Bruce recently read.  Mr. Spioto is head of the Litigation, Bankruptcy and Workout Group.  He has represented banks and bank groups, insurance companies, institutional investors, funds, indenture trustees and bondholders in litigation or workouts for more than 400 troubled debt financings in over 35 different states and ten foreign countries.  He has testified in front of Congress a number of times.  Bruce and James discuss fiduciaries and municipalities, meeting the long-term goals for employees both on the pension and municipal side, the ramifications of not fulfilling your promise in a business, James recent testifying on the ability or inability for a state to declare bankruptcy, rainy day funds, creating benefits for citizens and attracting employees, sovereign debt resolution, the economy in the early '80s compared to today, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined by Jim Spioto.  Jim is a partner with Chapman & Cutler Law Firm in Chicago.  He is an expert on the municipal bankruptcies, and he produced a document called A Primer on Municipal Debt Adjustments that Bruce recently read.  Mr. Spioto is head of the Litigation, Bankruptcy and Workout Group.  He has represented banks and bank groups, insurance companies, institutional investors, funds, indenture trustees and bondholders in litigation or workouts for more than 400 troubled debt financings in over 35 different states and ten foreign countries.  He has testified in front of Congress a number of times.  Bruce and Jim discuss entitlement, Chapter 9 bankruptcy, defined benefits versus defined contributions, the CalPERS program, municipalities, the bankruptcy situations in Orange County and Vallejo, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined once again by Sean O’Toole, founder and CEO of ForeclosureRadar.com.  Sean has been an experienced trustee sale investor, buying over 150 properties, both residential and commercial.  He also has a very intensive tech background that he has brought to ForeclosureRadar.com.  Bruce and Sean continue their discussion on shadow inventory, talk about pricing and the status of housing in the future, how foreclosures are affecting the banks, deed-in-lieu and the risks that come with it, principal reductions, loan mods, their trip to Washington D.C., the economic situation in Nevada compared to California, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/

This week Bruce Norris is joined by Sean O'Toole, founder and CEO of ForeclosureRadar.com.  Prior to launching ForeclosureRadar, Sean successfully purchased and flipped more than 150 residential and commercial foreclosures.  Bruce and Sean discuss Sean's website and how he has helped many through it, his goal when creating the site, the market today compared to earlier years, ForeclosureRadar's use in finding houses to repair, code enforcement, the increase in foreclosure sales and the dominant role they play today, the real estate debt at the peak of the market, the biggest mistakes Sean sees in trustee sales, the definition of drop bids, shadow inventory, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/