Gayle and I took a road trip last weekend to Omaha, Nebraska to attend the Berkshire Hathaway (BH) Annual Shareholders Meeting and the opportunity to learn from the 77 year old Warren Buffet and 84 year old Charlie Monger. We were shocked to see the massive growth in Omaha. According to the World-Herald, Nebraska’s economy tops the nation.

Saturday morning, we arrived at the Qwest Center along with 31,000 others. By 9:30a.m. the Qwest arena was standing room only. Warren and Charlie sat a simple, draped table. Plenty of Cherry Coke and See’s peanut brittle was arranged in front of these two investment guru’s. Around the arena, the were 13 microphone stations where for the next 3 hours Warren Buffet moved from station to station taking questions from his flock.

Lot’s of questions as to the successors for Buffet and Monger. Mum was the word from Warren except to note that the Board of Directors had narrowed to the search to 3 or 4 candidates for each position, CEO and CFO. Charlie Monger thought there no need to worry as he had great “young” man at the helm (Buffet) who had plenty of good years left.

Warren usually answered each inquiry with less than a few sentences. Monger, next to reply, would often answer with only a few words and many times just a “no comment” except when a question came up about bio-fuels and if he were to rant about something bio-fuels was it. “Ridiculous, sure to fail, short term fix fo the farmers, to expensive to produce” were just a few of his comments and Buffet wholeheartedly agreed.

Questions about how to invest; Warren Buffet suggested any sized investor (small investors he classified as working with less than a million dollars!) follow him by staying away from get rich quick, trendy or highly risky ventures. Look for companies with broad appeal, steady growth financially and more importantly companies that have had the same managers in place for a long time and who intend to stay in place. Make your investments for long term. Stay the course.

When asked about the Presidential race, Buffet refused to saw he would support. Instead he noted that 2 of the 3 running he felt would make a good President. “The way the government system is set up, anyone could run it, even an idiot, and we have proof of that” he said as the crowd roared with laughter.

Many questions concerned the econony, oil prices and housing markets. The two guru’s assured the crowd, “we’ll be fine, just fine, were just in rough spot.”

In the convention center outside the arena, several companies owned by BH were there to promote themselves and offer the shareholders samples and special discounts on their products. After listening to Buffet and Monger speak of their investment strategies, it was apparent their advise worked well. Company’s in attendance included Fruit of the Loom, Justin Boots, Benjamin Moore Paints, Geico Insurance, Dairy Queen, Mars Chocolate, See’s Candies, Nebraska Furniture Mart and Wrigley Gum…not bad huh and Berkshire Hathaway has $66 Billion in the bank.

Final note: Buffet spoke of making hundreds of billionaires and thousands of millionaires…many of whom invested $10 a share, 44 years ago or $700 a share just 25 years ago…a share of BH “A” stock is trading today around $130,000 a share. Nice return on investment.

“Best of’” at National Assn. of Realtors “No Limits” from EskyKnows in Vegas.  While talking to my web hosting company Myers Internet  I hear someone say, “Hey Esky, what is the best thing you have found here at the Realtor Expo?”  Much to my surprise it was Mark Eibner from Denver with digital camcorder in tow. Another new web adventure for Mark, BrokerIPTV! So he handed me the microphone, turned on the microphone and here is what I had to say about Point2NLS!

A special thanks to Mark Eibner one of my real estate techno gurus and fellow Metro Broker and his gang at IPTV!

Gayle and I are attendees at the National Association of Realtors (NAR) annual, this year in Las Vegas. NAR 2007 membership count neared 1.3 million members, yet only 30,000 including exibitors are here to take advantage of educational offerings numbering more than 300! Market trends, business models, career development, software, hardware, technology, marketing, Internet, buyer/seller representation all to keep those attending, ahead of the curve. and leading the real estate market for 2008.

The big buzz here is about the national media, seduced by many vocal but uniformed analysts and agents painting the U.S. housing markets in the clutches of a meltdown, even though the facts paint a very different picture. Faced with the conundrum of consumers staying on the home buying fence in the midst of solid U.S. economic performances, Pat Combs, 2007 NAR President and Dr. Albert Robins, NAR Chief Economist reported that every national sales downturn in the last 30 years were spurred by broad economic problems. By contrast, current economic fundamentals remain solid. All statistics point to making 2007 the 5th best housing year, for home sales in the 100 year history of the NAR. Home sales, 5.5 million this year will not set price records.  Most markets are flat, and prices are declining, due to huge inventories and tightened loan criteria. This market correction comes after unrealistic price run-ups in many areas and loose and predatory lending practices. Read the rest of this entry »

 #5 in a series

Gayle and I are heading back to Las Vegas to attend the National Association of Realtors “No Limits” conference. Our week here in the desert towns near Palm Springs was relaxing, insightful and confounding.

We relaxed in an over the top motorcoach country club. Here, owners of top-of-the-line motorcoaches purchase permanent parking spaces for about a quarter of a million bucks. The country club includes a 1 1/2 mile waterway complete with boat docks at each RV space, a championship golf course and a clubhouse fit for a king and queen.  Then owners add the fluff to their lot for another few hundred thousands of dollars. Fluff like outdoor kitchens that would be proud to reside in any home I’ve ever seen. Then there are the outdoor fireplaces, water features, landscaping including maybe a dozen palm trees and finally a small casita, about 9 x 13 that house another kitchen, a bathroom and maybe a full sized washer and dryer. As guests, we enjoyed our stay in this land of RV excess and Colorado River water!

The weather is the desert was perfect. A day spent in Joshua Tree National Park was amazing. Almost a million acres of ever changing desert vista  featuring expansive Cholla cactus gardens and countless shapes and sizes of the elegant Joshua tree. Elevations from sea level t0 5000 feet and temperature changes to match!

We walked miles around the RV park, worked out the fitness center and enjoyed a couple of afternoons sunning and reading at the never used pool. Downtown Palm Springs is experiencing a renaissance of it’s 1950’s and 60’s excitement. Restoration projects everywhere. A great stop and shop on our desert adventure.

Gayle and I stepped away from pad and pen for a few days to really just talk and brainstorm.  A dream session sure to bring answers for the future. We dreamed of faultless transactions with every player doing exactly what they are supposed to on time, everytime. We dreamed of buyers buying what they should, what’s best for them, not what they could buy and could forfeit later. We dreamed of lenders making loans that should be made so bright affordable futures aren’t at risk. We dreamed of sellers selling homes in a realistic time frame and at realistic prices. We dreamed of building homeowners equity. We dreamed of an industry of knowledgeable and trusted professionals concerned about their clients long term rather than making fast dollars in a fast market and exiting when the going gets tough!

Reversing our tour route on I-10 to I-215 to I-15, 242 miles back to LV included another gastonic stop at the Mad Greek in Baker, Ca. I enjoyed the “world’s best gyro” while Gayle went back for seconds and another fabulous greek salad. We’re spending the weekend on the shores of Lake Meade, touring Hoover Dam visiting our old friends  the Strauss’ and missed relatives prior to moving our motorhome into another motorcoach country club in Las Vegas, just a few minutes from the Sands Convention center, home for our week at “No Limits.”

#4 in a Series

Gayle and I exited Las Vegas, Nevada heading south I-15. Our destination, Indio Califorinia is 242 miles away.

The highlight of this drive would be just 50 fast miles from Las Vegas. Now a wide spot in the road, a town left to ruin to by by the interstate system, Baker California maintains a spot on the map as the home of the Mad Creek Restaurant and the world’s tallest thermometer and a myriad of other fast food joints including a Bob’s Big Boy!

 A month or so before Gayle and I left Denver on our adventurous retreat to the southwest, we caught a segment about greasy spoons and road side diners on The Food Channel. The Mad Greek restaurant was highlighted. I knew that this gastronomic respite from the fast lane would our desert oasis.

Just a few miles out of Vegas the simple billboards advertising the Mad Greek Cafe, Breakfast, Lunch and Dinner or World’s Best Gyro Mad Greek Cafe - Baker dotted the roadside every 8 or 9 miles. We approached the Baker, California interstate exit with heart racing excitement. The Mad Greek Cafe sign was immediately visible high in the sky! Huge open parking lots marked by giant signs proclaiming Bus, Truck and RV parking for the Mad Greek! 18 wheelers rolling from the south end of town turned across traffic into the lots where they joined a dozen or so other trucks and 4 or 5 motor coaches. Gayle and I pulled in and parked. We walked a hundred yards south to cafe.

Colorful blue and white flags were flying in the wind over the white and blue building which had been built a room or two at a time and where now a cohesive form with dozens of life size white faux marble Greek classical statues posted every several feet surrounding 3 sides of the cafe. A site to see!

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#3 in the Series

Wow! Las Vegas, Nevada is one of kind, thanks for that! I’m here at the SEMA SHOW as a guest of our friend Tom! My best car buddy and son-in-law Jace joined me and in his words the show is incredible, ridiculous and obnoxious. More than 250,000 buyers and exhibitors fill over 1 million square feet of the LV Convention Center for 4 days of over the top car, hot rod, truck stuff, tires, wheels, lights, accessories, paint, tools, electronics and automotive BLING! Probably 5000 of the most beautiful, over-the-top cars, hot rods and trucks are on display. Several national TV and radio shows document this 40th year of SEMA.

Car, hot rod and truck royalty including Barry Maguire, Chip Foose, George Barris, Carol Shelby, Boyd Codington, Arlen Van Ness, Craig Jackson, Mario Andretti and others are ever present, signing autographs and posing for 1000 of cameras including mine!

Nine A.M. began our miles of daily crusing this car and truck vanity show. Interesting though, while we enjoyed seeing the latest, not yet available to the public car and truck toys often demonstrated by beautiful females wearing not much more than a seat belt, 100’s of  educational classes were being offered. Read the rest of this entry »

2nd in a series!

On the road from Moab, Utah. We left Moab heading north on Hiway 191 to I-70 then west 400 miles to Las Vegas. The senery was endless and spectacular. The Cache Valley near Richfield, Utah was filled with smoke from the California fires. For most of 100 hundred miles the air was thick with smell of a campfire.

A long day on the road.  Gayle sat prepared for the days work with legal pad and pen in hand. Today we would organize our thoughts, review the format from our last business planning retreat and begin what will be our detailed process of building our 2008 business plan.

Job descriptions came up first. Identify the tasks and responsibility and of each of the members on our team  in detail. Sounds easy. It isn’t. Brainstorming for hours, every task large or small, is listed. Task lists will be rearranged and prioitized.

Accountability was next. Whoa…does that get complicated. No finger-pointing, just lists of fail safe items to merge into our systems.  Our systems are in place, however an annual tweek here and there fine tunes the various elements that together

A note on a systems. Since 1990 I have labored to build and implement the systems needed to run our business. With the help of our mentors, Gayle and I have in place, systems that guide us through each task, each transaction, each day, each week, each month in precise detail.

As other items pop-up though our journey, we will add them to our job descriptions lists.

Next we spent several hours and a tuna fish sandwich later reviewing our major marketing focus. New this year will be our emphasis on SRES, Seniors Real Estate Specialist, a Realtor desigation I earned 2 years ago. Baby-boomers reached 60 years this year and make up the largest segment of the real estate market.

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Eleven years ago Gayle and I went on our first business planning retreat over the Halloween week as a result of being coached by our mentors, the Buffini brothers of San Diego, CA. Our retreats have become a habit and are the foundation of our business plan.

Our first few were in Winter Park, Colorado and since then we have held them in other places in Colorado, a few in Mexico and this year we are on the road in our motorcoach crusing around the southwestern United States.

Our retreats are serious business. We bring all of this years information to analyze and learn from. We look at every transaction and determine the source of the business and determine if we could have improved the service level we delivered. An in-depth review of our marketing efforts…what worked well, what needs improvement and what didn’t work. We look at the overall market statistics and compare those stats to ours. Were we ahead or behind the market and why? Technology, finance, support team, and trends for the coming year are all studied. The result is our business plan for the coming year, a written, detailed, concise plan for the year however it is not written in stone!

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