S.E.C. Real Estate Observer

Welcome to the 2010 Fall Issue of the S.E.C. Observer. William F. Richert, S.E.C. President, encourages us to use “creative thinking vs. traditional thinking” in order to succeed even in the present economic climate. Steve England is looking for young entrepreneurs and wondering where they have gone.

Traditional thinking is about “what is” — Creative thinking is about “what can be.” The news headline recently said “Double Dip Recession Possible.” The media enjoys seeing the “glass half empty” and it’s not the first time we’ve heard “the sky is falling.” In fact, it has happened numerous times in the past.

I had a disturbing conversation with a 35-year-old small businessman yesterday. He confirmed what I have observed. We seem to have produced a generation of young folks who have little desire to own and build their own businesses.

When a bank loan goes 30 days delinquent in payments or past the due date, it becomes a scheduled item with the auditors. They may or may not require any reserves be put aside for loan losses. As default status continues, the loan will be written down based on borrower financial strength, appraisal, strength of the bank, etc.

When I asked other S.E.C.s how much they prepared for a meeting, the response I got most often was “Preparation…Hell, I’m too busy ‘to prepare’,” hence, Preparation…H. As I look back at my thirty years in the Society, I’m in the same boat. We are all running hard and fast between business, family, and life in general, but how much time do you actually spend preparing for a meeting? How do you prepare?

The uncertainty of the current economy creates significant pressure on the charitable resources of The Education Foundation’s Farley fund to provide timely and effective help for those in need of assistance. While financial assistance is certainly important, and greatly appreciated, there are many other things we can do; not the least of which is to do what we have been trained to do — seek to provide compassionate, effective, and timely counsel.

The S.E.C. National Invitational Marketing Session will be held at the Hilton Indianapolis • 120 West Market Street • Indianapolis, Indiana • 89109.

The S.E.C. Education Foundation is pleased to announce that Peter R. West, S.E.C., CCIM, will present “GREEN: More Than Just a Color,” from 9:00 a.m. to 5:00 p.m. on Sunday, September 19, 2010, in Indianapolis.

Although it was not a subject that the family would ever discuss, it is alleged that Lance’s paternal grandfather was a half-breed Seminole from Florida who grew up when such ancestry was a liability.

Everybody’s “gotta be somewhere” — right? Every property’s “gotta have an owner” — right? From the Empire State Building to the four-unit motel that was just condemned, all real estate is owned by a legal entity.