FAREPA First meeting of 2014 - Carol Rodoni Wrap Up

January 7, 2014 – FAREPA  - Held at SILVAR in Cupertino, Ca

Lunch Sponsor: Matt Nguyen of Banc of California. Offers REALTORS at the meeting School Scout!! 
(Matt's contact info:408.784.1846 direct   Matt.Nguyen@Banchomeloans.com     http://mnugyen.banchomeloans.com)


Carol Rodoni – Summary 


2013 – what was supposed to happen, didn’t….. what happened wasn’t supposed to
Rise of interest on the horizon is eminent.
Lower interest means payoff principal faster… equity growth = wealth growth
            Buyers must understand this
IPO’s will have a wonderful 2014
            Be optimistic but with caution – BALANCE is key
2014 prediction – 3-5% housing appreciation
4M households down from being underwater           
            was 11M at the peek, now 7M
There is the working bee class, the affluent, the ultra rich           
            What happened to middle class??
2000 Internet bubble vs 2013 Internet bubble
            in 2000 – there was only a few internet players (Yahoo, Microsoft)
            in 2013 – FB, Google, Twitter, Apple
You can’t run a business without technology           
            Silicon Valley is the heart of tech and we are tech dominant here
Yahoo bought Tumbler – WHY?
            They were buying eyeballs
Snapchat and Vine are incubator baby businesses
The market has three different prices:
            List Price ------ MARKET PRICE-----Premium Pricing in multioffer market
            Be offering the Market Price for buyers
High end is at risk.
This market has taken a breath, now, Dec-Feb
            This is a readjusting period
Millennials are trendy, hip, eclectic and funky. (born 1980-early 2000)
            Made up 28% of buyers in 2013!