S.E.C. Real Estate Observer

Welcome to the 2008 fall issue of the S.E.C. Observer. Steve Eustis, S.E.C. President, opens his article with a reference to Tom Brokaw’s book, The Greatest Generation, and he introduces you to Jack Hunt, S.E.C., CCIM, and Kenneth Johnson, S.E.C., two longtime Society members who exemplified the characteristics described in the book. Bob Giniecki, S.E.C., […]

I have just begun reading Tom Brokaw’s best-selling book The Greatest Generation. To quote from the inside jacket of the book, “Brokaw brings to life the inspiring stories of men and women who gave new meaning to the ideals of character and strong values. From military heroes to community leaders to ordinary citizens, he profiles people who served their country with valor, then came home and transformed it.” […]

In Part I of this article, “Pricing Real Estate The Key For Results,” the term “Cap Rate” to structure an income property value was noted as well as the ability to utilize “creative formulas” to structure a property; acquisition should there be a question as to the price/value of the property. First an overview as to what is the “makeup of a Cap Rate” will be presented, and will then be followed by a sample illustration of two “creative formulas” that I personally had the ability to apply to a successful transaction […]

In difficult economic times, when the economic news is mostly negative, different skill sets are necessary for commercial real estate brokers to successfully market commercial properties to users and investors […]

It was 1987. I had just completed a rather large multiple leg exchange involving 54 properties in 4 states and over 200 recordings. My client in the exchange was a lending institution based in Bismarck, North Dakota […]

Now that cash is king again because there is only 20% of what earlier was available to do real estate transactions compared to 2006 as sources for a lot of the prior available cash have been cut off by the “crisis” (i.e., less equity = no equity loans, no buyers = no cash out = lowering prices = no speculation = major reduction in interest in real estate as “upside” isn’t assumed anymore). So, some owners have increased MOTIVATION to get a SOLUTION […]

The Education Foundation is saddened to lose Jack Hunt, the man who single handedly took it upon himself to re-institute the Society of Exchange Counselor’s education programs. In 2000, Jack decided that S.E.C. education must rise like the phoenix from ashes and be started again. It was Jack’s vision — and determination — that formed the base for what the S.E.C. education program is today […]

The S.E.C. National Invitational Marketing Session will be held in San Francisco, California, at the Marines’ Memorial Club, 609 Sutter Street, San Francisco, CA, 94102 […]

Robert W. Steele, S.E.C., will present “Real Estate: Outside the Box” in San Francisco, California, from 9:00 a.m. to 5:00 p.m. on November 16th. Bob has won numerous local and national awards, including S.E.C. Counselor of the Year in 1969, and he was awarded Lifetime Membership, the Society’s highest honor, in 2001. Bob was also inducted into the Real Estate Exchangor’s Hall of Fame […]

Wichita has lost one of her outstanding citizens with the passing of Jack R. Hunt on Tuesday, July 22, 2008. Jack was born October 13, 1921, and was placed into an orphanage soon thereafter. As a youngster, Jack existed without a last name until attending school required that he have one. He selected the name Hunt from a local fireman, Dick Hunt, who had befriended him in his youth […]