Central Virginia Real Estate Adventures

Vintage Real Estate Ads for "Up and Coming" Neighborhoods?

2011-04-18T16:50:00.000-04:00

Madison Monroe represents some property in New Town in Staunton, Va., I think about it a lot. The south side of Beverley St. has a neighborhood that is often referred to as the Stafford block. Traditionally, it's the "black neighborhood," but I like to think of it as an up and coming neighborhood. The truth is that it is not an all-black neighborhood. In fact, it's one of the most diverse neighborhoods in Staunton, and I like it a lot. I almost moved there myself, but I was looking for one of those insane deals you hear about people getting on places they live.

But there are deals too good to be true on the Stafford block, and there are some great people on the block, and there's a community garden, and a kids' playground, and all sorts of street fairs and stuff. I love it. Plus, there are some artists living there. It's great, and it's close to downtown. And did I mention cheap?

So, I've been thinking a long time about this because Agent Genius published an article about revisiting strategies of the old days, and I was wondering how to apply that. It wouldn't work with the apartments or condos, I don't think, but it could totally work for a neighborhood that's making a comeback as a cool place to live.

I remember living on the border of Berkeley and Oakland in California, and the people who were moving in were changing those neighborhoods for the better (IMHO), and they were looking for things no one had demanded for a long time in those spots. I think those folks would be receptive to the aesthetic and message of a vintage campaign to move a neighborhood back up to where it may belong. . . to have people care about it and invest in it again.

Maybe we'll see a lot more of this as the suburbs start dying, and the neighborhoods downtown start thriving again.Will we advertise the downtown neighborhoods to the people who used to live in the suburbs the same way we sold them on the suburbs? Probably. Look for similarities. The demographics haven't changed that much.

The Small Business in the Low Tax Revenue Environment (and Why the Darjeeling Cafe Still Is NOT Open)

2011-04-14T12:58:00.000-04:00

Lately, there's a lot of talk about how the city is gumming up the works in Staunton, VA. I don't totally agree. There's an issue that's got some people riled regarding the noise downtown after 11pm. City Council will vote on it tonight. About a hundred people claim to be attending. That's quite a bit for Staunton City Council.
The problem I have is that this is a non issue as long as there are not enough services downtown to actually provide a healthy environment to businesses. There will be no businesses downtown because there won't be anyone with any jobs or money to patronize them in a way that will keep them in business. And lowering taxes is not going to bring them back in a million years. Here's why:

The Darjeeling Cafe has been under construction for one (1) year. Part of the reason it's taken us about twice as long as everyone expected is due to the building inspector situation in Staunton. The building inspectors are good ones I think, but there are only two (2) of them. Now, two (2) might seem like enough, right? Well, you'd be wrong about that. What if one gets sick? What if one is on vacation? What if one gets sick while the other is on vacation? And that's where we are right now.
Two (2) building inspectors are not enough, and the only reason we don't have more is because everyone wants to keep taxes low. Everyone wants to keep business license fees low. Everyone wants to keep parking ticket fines low. The truth is that when you keep everything low, there's no money to pay teachers and garbage collectors and cops... but there's also no money for building inspectors, health inspectors, fire inspectors, and unless you trust businesses to always do the right thing, these people are necessary for businesses to exist. Right now, we're supposed to have five (5) building inspectors, and we only have two (2). Right now, the Darjeeling Cafe is waiting to open its doors and employ twenty (20) people, but it can't because there are only two (2) building inspectors. You see the problem? You see how easy the math is? Taxpayers keep a small number of people employed in order to encourage employment in the private sector. When cities cut their budgets, the dumb taxpayer thinks, "thanks, city hall," when what he should really be saying is, "will businesses be able to open in this town?"

The same thing goes for schools. If you don't have good schools, no one will want to live in your town. If no one wants to live in your town, no one will work in your town. No one will be able to sell houses. No one will be able pay real estate taxes. No one will get parking tickets. The city will be more on the ropes than ever... etc., etc., etc.

Some of you will say that there needs to be lighter regulation on businesses, but that's when people start burning alive in buildings, and no one likes that.
Some of you will say that low taxes will allow more businesses to come here because they won't have to share as much with the city, but that means waiting around more for people like sewer service people and the various inspectors I've already mentioned, and everyone knows that time equals money.

The tax-free or low-tax environment is a bad one for businesses and for communities.

How to Rent a Place to Live

2011-04-12T15:42:00.000-04:00

Don't be so quick. Those who hurry often stumble.

I just moved, and I've been a renter all my life. I like being on both sides of renting. Some day, I would like to own a home that I rented out while renting my own living space. I know that sounds weird to most people, especially in America, but I just don't see real estate the way most Americans see it. I don't look at it as an overly emotional investment. That's easier to do when you're renting. Sure, you have to ask yourself if you could be happy in the space that you're considering, but there's a lot more to think about when you're thinking of a place. You have to be sure that the deal you arrive at is beneficial, and contrary to popular belief, rentals are as negotiable as purchases.

I want to share what I've learned about renting on three continents

First, think about what you really want. Do you want cheap? Do you want big? Do you need a place that's good for kids? Do you want quiet or downtown? What are you willing to sacrifice in order to get what you really want? If you like downtown vitality, don't think anyone is going to take you seriously when you complain about noise or parking. If you want a kid-friendly neighborhood, don't think that you'll be able to have loud parties late at night. Big and cheap? Don't think you're going to be in the nicest neighborhood.

Appliances. How new are the appliances in the place you're scoping? Are you going to have to call the landlord a million times because the pilot on your old stove is out? Is your electric bill going to be incredible because the refrigerator they have in there is old and inefficient? Do you really want the ancient washer/dryer that cost too much to run? How many gallons is that water heater? Is it gas or electric?

With appliances, two other questions come up:

What kind of person/organization is my property manager?
What kind of utilities am I looking at?

Utilities are going to be a BIG deal! Does the owner pick up any of them? Do they have any records about what they cost?

Appliances WILL break down. When they do, do you trust the landlord or manager to replace or repair them in a timely fashion?

What changes would you like to make to the place before moving in? Remember, you can rip out carpets, paint, do whatever you want, as long as you tell the manager before hand. Get that into your lease before signing it. Actually, before I go on, GET EVERYTHING IN WRITING. I am guilty of not following that advice sometimes. I trust people to do what they are going to say, but if you ask for something in writing, and they balk, walk away from the deal. If you're willing to do the deal, you have to be willing to walk away from the deal. Say that last sentence to yourself ten times.

Finally, how much do you want to pay?
This one is interesting because it sounds simple, right? "How much do I want to pay?" Well, the truth is that you can only afford to pay a certain amount, and the amount you want to pay may be quite different from that. A good landlord has an idea in his head about what he'd like you to pay; a better landlord knows what he needs you to pay. You do not want to live in a place for which you're paying less than what the landlord actually needs. That's what makes a slumlord.
Slumlords are not born; they are made.
They take less than what a building needs to maintain, and therefore, their buildings fall into disrepair. Then, once that goes on long enough, they just stop caring about the building and take what they can get for their dilapidated investment. It's a cycle you want no part of. Don't do business with a landlord if you're not going to be compassionate about his and his building's needs. A good landlord knows exactly what he needs to make on a property so that he can fix the roof every 20-25 years, replace the floor every 10-20 years, replace the carpet every 5 years, repaint however often, treat the siding, keep the grounds, and everything else. He knows how long it will be empty after you move out. He's studied this. He has a number if he's good at what he does. That doesn't mean that he's going to give you that price. That's what negotiation is for.

So, say you ask for a per-month cost that's low, and he says he can't do it. OK. What do you want if you're going to pay what you can afford? Here's where you start talking about appliances and heating and everything else. Don't give up for nothing. Make an offer like you would on a house. A good landlord will counter offer. If he doesn't, walk away. You don't pay sticker price on a car, why would you on an apartment?

Once you move into a place

Communicate with your landlord. It's in his best interest to keep you there and make you happy. He doesn't want to go to court.He doesn't want to have to be a jerk. COMMUNICATE!!!
Report problems. People think that problems are things people want to avoid--not true with landlords. They want to know what the problems are with their buildings. They don't want something going on that they don't know about. Even if it's a problem you don't care about, email them and tell them what it is and tell them you don't care. If they feel like fixing it great. If not, that's great too.
Try to pay on time. Yes, everyone pays late. People who have the money pay late. Try to not make a habit of it. Let the landlord know what the problem is and make sure he knows that you're going to pay on time in the future.
Work out a plan. Landlords love plans. They amortize everything; they depreciate everything. They look at objects unlike other people. They look at doorknob, e.g., and they think about how long that doorknob is going to last and how much it's going to cost when it finally dies. They plan for that doorknob's failure. So, if you get into trouble with payments or anything else, write up a plan for your landlord. He'll thank you for it.

Here's three (3) more for good measure:

Take pictures of anything you think is nasty or bad. If things go south, you'll need them in court. Judges love pictures. Landlords love pictures. Renters, you need pictures. Take as many as you need. The more, the better. You do not want to walk into a courtroom empty-handed.
Keep records about your place. Make sure you keep business cards and names. Stick them in a file. You don't have to be super organized, but when push comes to shove, you're going to go to that file. Your landlord has a file on you. You need a file, too.
Don't be emotional. Walls and land make people crazy. Don't let it make you crazy. Don't *love* your place. Live in it.

Real Estate Websites and Consumers

2011-03-29T16:04:00.000-04:00

I've been working on the Madison Monroe website. It's not easy-going. We have a lot of different properties and services, and I'd like to get them all online in a very organized and interesting way. The page hierarchy needs some major work. We have to put ourselves in the place of the consumer; and the different consumers, when it comes to real estate, are extremely different.

As it is right now, in my limited experience in real estate, I see our prospective consumers as follows:

The Investor
The real estate investor may want to buy a piece of property and sit on it, they might want to buy a property that is already generating revenue, they might want to take a piece of property and spruce it up into a property that generates revenue. And then, they might want you to manage it, or they might want to manage it, and they want you to lease it. Maybe they just want to flip it. "The investor" might need its own blog entry to really get into comprehensively.
The Would-be Home-owner
The would-be home-owner is someone who wants a house to live in. But they want to OWN it for whatever reason. Maybe they think that there's an investment opportunity there. Maybe they think they're fulfilling the American Dream, or they just want to do what their parents did or what their parents always told them they should do. Whatever the reason, they want a house that's theirs. They usually are in the midst of becoming experts on the subject and will quiz you. They'll also want to show you how much they know.
The Residential Lessee
The residential lessee wants a place to live. But do they want a house or an apartment. How many people will be living there? How much do they want to spend. What neighborhood do they want to be in. It's hard to get lessees what they want. You have to check their credit and criminal reports and it's a dice-roll for a lot of them.
The Commercial Tenant
The commercial tenant wants a place to do business. The best ones have clean business plans and think about bottom lines and square feet. They think about utilities and labor and all the things it takes to do as much as you can with as little as possible. The worst ones are dreamers who have ideas that sidetrack the real estate professional. They will sit in your office and tell you all the impossible things they want and how unwilling they are to compromise. But they don't ever have enough to build. The ones with enough to build sometimes do, but they often realize that what they've built is more than they need or less they need, and then they're stuck with a building they can't really use.The commercial tenant is very interesting because they are business people. Sometimes you can see which ones will make it and which ones will be unsuccessful in the first few moments talking with them.
The Developer
The developer wants to buy land and improve it. The developer is either a gambler or a scientist or a scientific gambler. They want to put a lot of money on the table, and the best ones have studied the game. They know soils and rocks and angles and laws and the cost of almost everything. Developers are good people to know because they know a lot about the whole business. They are interesting and know a lot of people. They move millions and billions of dollars sometimes just to make a little bit in comparison.

If I thought about this more, the list would be longer. Trying to create a website for all of these kinds of consumers is difficult. It's probably why most real estate websites really suck. I could imagine having whole different sites for each type of consumer with a portal page simply linking to each.

A Website about Getting Your Real Estate License in VA

2011-03-29T09:31:00.000-04:00

I found this site about getting your Virginia real estate license. I think it's a pretty good one.

I wish that there were more of it because the guys seems to know his stuff and want to help.

This is a preformatted review I did through GoodReads about TRUMP's BOOK, How to Get Rich

2011-03-25T11:26:00.000-04:00

Trump: How to Get Rich by Donald J. Trump

My rating: 4 of 5 stars

Donald Trump is one of those fascinating people I can't understand why I think he's fascinating. I'm sure I don't like him. I'm sure that he is a mean-spirited man who yells at people and micromanages them and destroys because he can. I don't think I would want to count him as a friend.

When I read his book, though, I could not help but think to myself, "if I were more like him, I would hate myself, but I would be rich." I also found myself saying things like, "if my father had been a millionaire, I might be a billionaire right now if I were the right kind of jerk."

Trump is like John Gotti. He's a celebrity criminal who's flamboyant enough to make books like this interesting enough to get through. His arrogance makes up for his lack of writing talent, and his short chapters are like a James Elroy homage or something.

This tasteless beast who builds golf courses and rides limos through the McDonald's Drive-Thru and stars in their commercials is hard not to psycho-analyze. . . and surely he's counting on that. So, all you amateur psycho-babblers, have at him. And while you're shaking your head at how horrible his mother and father must have been, you'll find yourself raising your eyebrows at the very few pearls of business wisdom sprinkled like scatter shot in this book.

Also, the title is bull shit. . . a joke or a marketing curve ball. And that's funny.

View all my reviews

Mike Brown is an Architect in Staunton

2011-03-17T12:46:00.001-04:00

There are a few architects I like in Staunton. One is Chris Schooley, one is Marc Paxton, and one is Mike Brown.
I list them in no particular order. I like them and recommend them all.
If you need an architect in Staunton, you should go with one of these.

If I Had the Time, I would Open a Record Store in Staunton

2011-03-14T15:38:00.000-04:00

If I had the time, I would start a record store in the Queen City Marketplace.
The Queen City Marketplace opens in a few days, and I think a record store would be perfect for the space. I think it would be perfect for Staunton. I think we need a record store.

If I had the time or just a brain big enough to add one more iron to the fire, I would definitely open one. I think it would be awesome to own one, and I think it would make money. Probably, it wouldn't turn enough to live off right away, but I would start it small and grow it slowly.

Here's a link to an article about opening a record store.
Many of the issues opening such a retail effort are circumvented by having it in the Queen City Marketplace. Plus, there is a guy who repairs musical equipment and record players who is taking a space there, and wouldn't it be awesome to share a space with a guy like that? He could even help you hunt down a cheap turntable.

If you live in or near Staunton and want to start a record shop, please let me know.

Lead Poisoning

2011-02-23T12:06:00.001-05:00

I've been reading about lead poisoning and its history because I was shocked to find that lead as a staple ingredient in many residential building materials, including paint, was not banned until 1978.

The link above is a brief history of the awareness of the illness commonly referred to as Lead Poisoning, and it illustrates something I think is very interesting. It screams conspiracy. We've known how dangerous lead was for a very long time. Long before 1978, anyway.

I am always wary of giant corporations. I'm not the young man I once was who thought that all big businesses are evil, but when I'm in the water with them, as we all are all the time, you should be aware of what they are. When you a surfing in the Pacific Ocean, you should be aware of sharks and other perils that are posed to befall you at any moment.

Sometimes I feel like a lot of this kind of thing is still going on with the same culprits at the wheel. Big business, in this case the oil and energy companies, dampen the cries of those who raise flags regarding harmful materials, in this case lead. The real estate industry, older than the oldest industry, lets them fight the battles against cost and alarm. The builders are happy to have the work and stay quiet. Use lead paint. It's cheaper. The big businesses say it's safe. We know it's not rrreally safe, but use it anyway for now and while you still can.

This kind of thinking bothers me. Must we wait for regulation to do what's right?
As I become more immersed in this business, I hope that I needn't wait for regulatory measures to let my conscience keep it hand on the wheel. In fact, I resolve to make it so.

There are brownfields all over. There are uninhabitable buildings rotting because it would cost more to modernize them than tear them down. We can't leave the same artifacts and thought processes for the next generation.

Commercial Real Estate Trends

2011-02-07T11:56:00.000-05:00

I really enjoy Agent Genius. They have interesting articles like this one that talks about trends to watch for in 2011, and they present their info in a way that isn't all doom and gloom.

It makes me feel like I'm getting into this biz at just the right time. I can't remember what the market was like when everyone was freaking out about how wonderfully easy everything was. I don't remember when you could just sit on your butt and wait for the money to come in. And I don't remember when you could do huge deals with hardly any work and maintain those contracts without actually having to do it yourself. I'm getting into it when the going is hard. . . and you know what? I'm better off for it.

Here's why:
I can position myself through hard work and perseverance to be the go-to person for any piece of real estate in this area. I will work hard to maintain those relationships. People will know me as the guy who works hard for a living and to make his partners money. Then, if the market ever looks like it did before I got into it, I will be be in the perfect situation because I will appreciate the high tide and won't ever be complacent or content to sit around and wait for things to happen.

It's good to start hungry.
It's good to stay hungry.

This industry is primed and ready for new leadership. I'm excited about that.

Waynesboro: The Biggest Deals EVER!!!

2011-01-26T12:26:00.007-05:00

I started thinking about Waynesboro today because we're representing a property at Madison Monroe that's over on Main St. there. It's a huge space, 10,000 square feet. The price is so low I can't believe it.

$4.00/square foot!!!

Waynesboro sells itself a little short in this department, I think. I know that houses go for nothing out there because what was left of their demand for housing evaporated with the economy, and people don't want to commute to Charlottesville from Waynesboro anymore with gas prices where they are. Of course, the problem is much more complicated than all of that, but this is a blog.

But here's what I think about shops and business centers in Waynesboro:

Waynesboro is still close enough to Staunton and Charlottesville and Harrisonburg that if something worth driving for were there, people would make the trip.
Waynesboro has HUGE spaces. Warehouses. Giant retail locations. Old factories. All for next to nothing.
So why not keep the rents up and actively look for co-op factories and warehouse tenants?

I think Waynesboro can make it happen if they got together and looked for shared spaces tenants.
What do you think?

Meanwhile, here's a link to the property we have in Waynesboro. It's a really nice one for $4.00/sf.

Real Estate, Branding, and Hair Stylists

2011-01-25T12:34:00.000-05:00

Agent Genius posted this article about a hair styling company in the UK that has found a very interesting way to keep their labor force AND their customers.
It certainly is interesting the way access to education keeps people around. I think that if I were to get free education on different things, professional development of my choosing, I would probably stick with a company for a long time and take a lot of crap from them. I value education a great deal, though.

Meanwhile, I brought in a lease at the Stratton Building that will include a new hair stylist. That industry is very secretive, so I'm not supposed to mention names for a bit, but now we will have two hair styling businesses in the same building. They both do massage and nails and hair. I think it's great that there are so many businesses like these in Staunton. Women love getting their hair done. Some men do, too. I cut my own hair, usually, to varying results. If there were a true barber shop here that did the whole shave with a straight razor and all of that, I would probably go to it. Men, for the most part, have lost their ability to pamper themselves in a way that's healthy and aesthetically pleasing to the opposite sex.

Also, there are still some great spaces in the Stratton Building. We have the third floor available, and there are still a couple small offices on the second floor. I love having an office in this building. We a have a koi pond and a huge lobby. I think I'll make a post just about the Stratton Building soon.

The Think Little Workshop

2011-01-24T18:22:00.000-05:00

We did this thing called the Think Little Workshop at the Queen City Marketplace over the weekend. Different people talked about different things on a panel of sorts, and we all networked, might seem pretty standard. Maybe it was in a lot of ways, but I don't think we bored anyone, and I hope we stayed on message.

The message: It's time to stop thinking like some billion-dollar company or government plan is going to make a drastic change in your life; it's time to to think about your own life and business on your own scale; to think little.

My portion of this and why we hosted it at the Queen City Marketplace was about thinking little in real estate. This has been a difficult thing for me ponder because real estate comes in the size you get it. Sure, you can spend a lot of money and split lots and convert uses, but basically, once you get the real estate you can't move it shrink it or do much to it to change it drastically, especially in this economy and if you weren't born a millionaire.

I enjoyed this workshop a great deal, and I hope that other people did, too. It was a massive turnout, over 70 people, and the news channel and the newspaper were there to report on it. Some great publicity for Queen City Marketplace and for the Jack Morgan as realty person brands. It was also wonderful to engage people about their businesses. I want to do more of that. It's one of the reasons I love this industry so much.

I want to more of these kinds of workshops or seminars. I think they're great networking opportunities for everyone involved, and they keep me creative about what I'm doing.

Jack Morgan House

2011-01-05T10:58:00.000-05:00

I don't know what a Jack Morgan house is. I Googled it, but all I got was a house once owned by Jack Morgan of J.P. Morgan. Anyway, if you are near that Jack Morgan house you should buy it. It looks very nice. If you are near the Jack Morgan House in NYC, you should visit it and see artifacts of the titans of capitalism!

I Totally Saw This Coming!

2010-12-30T13:31:00.000-05:00

Realtor Mag ran an article this month about QR codes. I'm glad it's finally catching on in the US, but I just have to say that I thought this was a good idea ages ago. . . long before I dreamed that I would have anything to do with real estate.
But hey, I'm glad the industry is keeping up with the times while driving technology in a way.

Plus, the article is quite good.

Speaking of Wine

2010-12-21T14:56:00.000-05:00

Dita Von Tisse is in Wine Enthusiast Magazine. I think her class is incredible and paradoxical somehow. Cocktail and wine culture is something kept alive by a few choice places in Staunton. Here's to more.

Augmenting Your Real(i)ty

2010-12-21T08:11:00.000-05:00

I've been into QR Codes for a long time, and I've thought that they would be a great way for Realty peeps to get their brands and messages out.

In Staunton, I want to have every one of our properties to have one of these codes on them. The idea is that people with smart phones and people sophisticated enough to be in the know, will scan these codes to find out more about the spaces to which they're affixed. This one, for example, takes you to a page on our website for the Stratton Building. My office is in the Stratton Building, and we have some really premium office space still available here. When someone scans this QR, they will get a couple photos and a little information about the building, including how to get in touch with us.

Singlehandedly, Madison Monroe Properties will propel the Virginia real estate industry into the 21st century, augmenting all Virginians' reality wherever they go.

Virginia Wine

2010-12-20T10:32:00.000-05:00

Virginia Wine is a big deal. People are really crazy about it. I think that when the industry here finds a grape that they're successful with, VA will be as big as CA when it comes to wine.

There's a wine tradition here that was not present in California when that state became the juggernaut it is today. And there are some old families here with a lot of land. And there are some new-comers who have money to invest.

Meanwhile, there is an enthusiastic movement toward locally sourced everything here. That means it's cooler to drink Virginia wine than wine from other places, even if the value isn't currently apparent in today's varietals.

I think it's something to look out for and something to think about in real estate. Wouldn't you rather be near a vineyard than a chicken farm? Wouldn't you rather drive by one on the highway? Wouldn't you rather get married in one?

Hypothetical Development

2010-12-17T14:59:00.000-05:00

My friends at Transition Voice sent me a link to the Hypothetical Development Organization. I love it. The ideas is simple: just go ahead and pretend you can do whatever you want with unused buildings. In Staunton, there are very few unused buildings.

A couple are underused, but other than the Masonic building, I don't think anyone would want to do the hypothetical dev thing here. I wish they would do it to the grain silos near Mill St., though.

Maybe I should do it.

Here's a link to the project.

Making a Face Movie on Picasa for Real Estate

2010-12-16T18:16:00.000-05:00

Realty people seem obsessed with their faces. So, I've decided to take it to the next level with a Face Movie from Picasa. It's the easiest thing in the world to make. Will this help my business? Should I put my face on my business card?

Vacation Property Management Is in

2010-12-14T07:15:00.038-05:00

Is owning a vacation home a good idea? I'm beginning to think so. What's more is that I'm thinking managing vacation homes is a good idea. See, say you're thinking you'd like to make an investment on a vacation or second home. Well, you probably don't want to spend a lot of time managing the space and maintaining your investment in a way that takes all of the enjoyment out of your property. That's where I come in. For a small percent or a guaranteed amount of revenue, I can turn your property into a revenue stream that makes you money while you pay off the investment. It's a great way to get a high return from a property and very "now."

If you believe anything that the real estate gurus are saying at this point, the thing that seems most accurate is that "flipping" is pretty much out. I also believe the Wall Street Journal saying that renting is cheaper than buying for the first time in ages, but that's a different beast in a way. Where does that leave the savvy investor? I think where that leaves you is multi-family/unit dwellings, section 8, or vacation property. And since most REIs are not into daily/monthly maintenance, they need to hire management companies. I am part of that management team. We can guarantee a return and a protection of your investment for a small percentage. Match made in Avalon!

I'm going to blog tomorrow about why you need a property management company.
For now, check out this article on vacation property and how you can get in on the action.

Hanging out with Congressman Goodlatte

2010-12-13T11:53:00.000-05:00

Today, Jack Barber and I showed Congressman Bob Goodlatte some of the office space we have in Staunton. We talked about presidents and where they were born. He knows a lot about California.

It was pretty funny because Jack came into my office and was like, "Bob's here." And I thought, "who's Bob?" So I came to the lobby and who's there? How did I forget that today was the day that the congressman is coming? Of course, I recognized him from the few times I'd met him during the last election cycle, but there was no way for him to remember me. Then Jack says, "Jack's from California, so he doesn't know anything; I keep telling him I'll turn him into a republican."

We all laughed heartily.

Men and Women on Real Estate

2010-12-13T11:20:00.003-05:00

Think Little in Real Estate

2010-12-11T12:04:00.001-05:00

In a meeting, a smart woman mentioned Wendel Berry's Think Little essay in regards to what we're doing with Queen City Marketplace in Staunton. I hadn't read the thing, so I looked it up and did; I loved it. I think I'd like to think about this essay more in respect to real estate. What do you think? Think little and kick ass?

Here's the essay. Maybe you have ideas on what it means to Think Little in real estate.

Trump thinks I should think big. I'll have to read his book to see what he really means. Sometimes his books have titles that aren't exactly what his books are about.

Queen City Marketplace was on the News!

2010-12-08T08:44:00.001-05:00

This was an entertaining adventure in Virginia real estate! I was interviewed by Matt Talhelm at the Queen City Marketplace and was broadcast to thousands and thousands of people. The requests for space are flooding in now, and I can't wait to see the marketplace open.

Here's the link to the text based reporting.

Here's a link to the video.

Matt Talhelm Is Going to Interview ME!

2010-12-06T09:57:00.000-05:00

Matt Talhelm is going to interview me about the Queen City Marketplace in Staunton. Good thing I'm great on TV. I'm going to talk about how it's a perfect way to start a business with a minimum amount of risk and built-in retail team and a wonderful way to have a downtown presence for a small business that's previously been run online or at home or is just starting out.

I'm also going to talk about how it's an awesome addition to Staunton on a block that's seen a tremendous amount of growth and increase in foot traffic.
The Queen City Marketplace is going to be huge for this town.
I've met Matt Talhelm a few times, and he's a really nice person and a talented television personality.

Installing Phones at Queen City Marketplace

2010-12-03T17:23:00.000-05:00

It was kind of a cold, gray day in Staunton today. I've spent a lot of it showing Queen City Marketplace and working on my Real Estate License training. Both have been fun.

At Queen City Marketplace, I met with some great prospective tenants, and I can't wait to see their businesses come to life in that space. I love talking with people about their dreams. I would like to help make them come true. Then David, the Verizon phone guy, came in to hook us up, so we ran around the dark floors of the building, including the basement, looking for the phone box. It's an old building, so "it could be anywhere." Turns out, we have a box on the first floor, it was just covered up by lots of wires that the last tenant installed. The flashlight tour was worth the wild goose chase, though.

I wish some more of the pictures came out, but the old iPhone didn't work very well in the darkness.Tin ceilings on every floor, and raised retail areas on a couple of them. Plus, a weird little basement... little compared to the enormousness of the rest of the structure.

I also just realized another selling point for the space. We're right next to the police station. That should make people feel safe. Maybe someone should open a doughnut booth in Queen City Marketplace. Just a joke, officers.

Anyway, it's been a great week in real estate, and I feel like I'm really getting someplace and still learning a lot and meeting some great people.

Staunton Zone Codes Demystified

2010-12-02T15:55:00.001-05:00

It is difficult to find the explanations of codes. It makes you feel dumb. I am usually very good at finding information very quickly, but I circled what I wanted at least a dozen times before my real estate mentor showed me where it was after I asked him in desperation where the hell the codes were.

I hope that the next time someone is looking for these things, they will find them here. Here's the link.

I used search terms like Staunton city codes, Staunton zone explanations, building and life safety Staunton, and many other terms that I thought would get me to these zone codes, but no luck. So here they are.

If you're a beginner or someone who's been looking. . .
You're welcome.

Staunton has a Hooka Bar and MORE!

2010-12-01T16:16:00.001-05:00

I really love Staunton's Hooka Bar. You might love it too.

Here's a link to pics taken there recently by our local crack newspaper photographer. I love things like this moving downtown. Some more businesses like this, and various magazine will start crowning Staunton the coolest place in America to live.
We also have an amazingly great cigar store. I like cigars very much. I'm partial to Gurkha Assassins.

Staunton is a happening place that's getting more happening all the time. We just started a Queen City Marketplace Facebook Page. It's in the sidebar of this blog for easy access. It's a great way by which you can have a downtown presence with your new business idea. Contact me if you want some info on how.

When Trees Meet Houses

2010-11-30T17:21:00.000-05:00

Is that a rafter I see before me? I know that rafters are in these days, but this is ridiculous!

I'm working on coordinating a house rebuild. It's a home that was vacant after a foreclosure, and it's managed by a faraway company. While vacant, a tree fell on it, and now we have to put about a third of the real value of the house into it in order to make it salable again, or at least an insurance company will. As you can see, rafters are peeking though the ceiling. I was impressed. It reminded me of that scene in The Lord of the Rings (the book; not the movie) where the Ents destroyed the tower with their root arms.

Trees are very powerful things when they're growing and when they're dying.

The addition might have been a solid investment to the little house. It looks like, at one time, someone really cared about this place. It has a decent deck out back, there are big windows in the addition, and a high open ceiling in the living room. It's a shame what's happened here.
Plus, it's in an "up-and-coming" neighborhood. Right near Montgomery Hill Park, it's a great spot for raising kids and doing other "young family" type things.

It's got a nice kitchen. I'm not sure where all the appliances went. It's got a good floor, it's got a nice working area, and it's got a two-basin sink. It's OK. I can see how it would become the center of the house because it's nicely situated in the house right between the living room and the addition, which would probably double as a dining area. The kitchen's big enough for a small kitchen table, though.

If you can ignore the nasty roof, it's a nice little joint. A cute walkway up to the door, off-street parking, a little landscaping, some "curb appeal." It's by far one of the nicer houses on the block. Most the houses in this neighborhood are very similar, and someone obviously invested some TLC here.

Here's where the addition meets the rest of the house inside. The tree had different ideas.

Poor roof, but I think if I had a little dough, I'd snap this house up "as-is" and get a contractor to do it myself. A great opportunity sitting there, methinks. But I like to think of the potential of spaces. YMMV.

It looks worse than it is. And it could be worse. Pretty lucky that just the addition got smashed. I'll get a general contractor to get in here and fix up the addition, and then get him to paint the rest of the interior, and this thing will look "good as new."

I hope that this might be my first listing as a real estate agent. That would be nice.

Bird-Dogging

2010-11-29T17:34:00.000-05:00

This is just another quick post.

Bird-dogging is an interesting part of this business. You get to know all about how this real estate industry works if you're paying attention and you have the right mentor. Part of what I do is bird-dogging, and I like that part of this gig.

Here's a quick article about it. I don't know where they're getting their numbers, but the job description regarding this component is pretty accurate, I think.

People learn this biz in many ways, and I hope that I'm doing it right. There's a lot in the details, and I'm usually a quick study. It seems like every answer brings new questions. It keeps it exciting.

Quick Holiday Post: Roost Helps Real Estate Agents Customize Their Facebook Page

2010-11-25T12:59:00.001-05:00

This seems cool. What do you think?
Roost Helps Real Estate Agents Customize Their Facebook Page

Rock and Roll Holidays in Staunton

2010-11-25T11:35:00.000-05:00

This year's theme for the Holiday Season in Staunton is "Rock and Roll," which I think is pretty awesome since I'm in a rock and roll band. Storefronts downtown are decorating in the theme, so the whole town has guitars and records in every window. It's sweet.

Mostly, people have been thinking 1950's rock and roll, and I think that's funny because every time someone mentions the fifties, I think of Gene Vincent and Eddie Cochran and maybe Buddy Holly. Everyone else thinks of Elvis, I guess. Elvis is everywhere. And I love Elvis. But Elvis is not the only thing going, people. Neither is the fifties. Elvis had his biggest commercial successes in the sixties, BTW.

Marden Press installed a John and Yoko with a little Christmas lyric by the duo. Everyone loves John Lennon. Shanti Yoga put a giant picture of Kurt Cobain in the their window; nice! But my favorite is David Bowie in the Baja Bean's back office window. I don't even know if this was part of the holiday decorations or just there because someone likes David Bowie in a suit.

I love this about Staunton. We have an organization called SDDA that helps businesses downtown market their services and work cooperatively with one another and the city and its departments. Business development is an extremely important component of our community. This rock and roll holiday theme is one of those times when everyone has fun, and I hope people come to Staunton to enjoy our huge parade and the windows (most are more elaborate than the ones I've pictured here). . . and rock and roll.

One of My Favorite Spots in Staunton

2010-11-24T15:56:00.000-05:00

About 25% of "the Warehouse" has a wrecked looking ceiling, but that makes me like it a little bit more.

There's a place in Staunton called the Warehouse. Madison Monroe owns it, and it's been rented from time to time. I find it an exceedingly cool place that has vast amounts of potential.

It's right downtown.
It's 800 square feet.
It has a lot of parking.
It is bright even on overcast days like the one pictured here.
It's cheap (about $400 with utilities).
It's old.
It's clean.
It's in Staunton.

Look at how awesome this skylight is.

I seriously wish I had the capital to open a business here. I absolutely adore this space.

Does this not remind you of some kick ass loft you saw a movie star living in in a movie or something? It's like that apartment Mr. Ripley had in Venice. Shabby Chic.

Maybe a gallery or a private drinking club. Maybe a little destination retail spot. Man! I get excited about this space every time I think about it. Email me at jmorgan@madison-monroe.com or comment here if you want to know more about it. I'd love to show it to you and hear your ideas about using one of the last small and cool spots downtown. It's a well-kept secret.

One More Reason to Move to Staunton

2010-11-23T11:16:00.000-05:00

Population by
Gender:

	1990 Census	2000 Census	Spring 2010	Estimate 2015	Projection 1990-2000	2010-2015
Male	11,533 47.1%	11,237 47.1%	11,159 45.6%	12,002 46.0%	-2.6%	7.6%
Female	12,933 52.9%	12,616 52.9%	13,293 54.4%	14,064 54.0%	-2.5%	5.8%

Staunton: Still more women than men in 2015!

The Palmer House

2010-11-22T13:57:00.001-05:00

A couple mornings ago, the city of Staunton was decorating Downtown with wreaths for the coming holidays. Cranes and man-lifts have always symbolized progress to me, so I find myself taking pictures of them often. When I lived in Berlin, there were cranes everywhere. It is as if that city is under constant construction. Now, there have been several cranes in Staunton, lately. Some involve putting copper tops on the historic houses and churches so that they will gleam in the Virginia sun, some are to insert chimney liners into the tops of buildings like the new Darjeeling Cafe did recently. There are often large machines lining the streets. The city has just redone Chruchville Ave, turning it into a beautiful brick walkway and street, lined with quaint lights and subterranean power lines. It's really quite pretty on Churchville these days; I run down the street every morning on my way to Gypsy Hill Park, another awesome place in Staunton.

Next door to the Darjeeling Cafe is the Palmer House, the space pictured above that looks like two buildings and actually is one. The first floor of the Palmer House is the famous Staunton Grocery, where you can eat locally sourced gourmet food and sample wonderful wines, cocktails, and tea. Next to the Staunton Grocery is a giant retail space that's currently vacant, but won't be for too much longer, methinks.

What's really interesting is what's going on above the ground floor. Madison Monroe Properties is doing preliminary work on creating luxury apartments in the Palmer House that are sure to be hot commodities. I seriously want to live in one. Right now, if you want a modern apartment, you pretty much have to go outside of the "urban core" to get it. There, you will find traditional, big apartment blocks with thin walls, balconies, and central air and heat. If you moved to Staunton, though, why would you want to live out there by the Wal-Mart? When there's an option to live in our thriving downtown, people won't want to live out there. The quality of life is leaps and bounds better down town than it out by the Wal-mart, and for a hundred dollars more a month, you can move there soon and still have all the benefits of living out there in new (fast & flimsy) construction land.

I hope you can tell by this post that I'm excited to be a part of the Palmer House upgrade. I've been working on it for a week now, and I'm crazy about the idea. I want to reserve one of the apartments for Mary (my wife) and me right now.

"Stay tuned" for more. Surely, I'll be writing about this one a lot here.

Recovery

2010-11-21T17:02:00.000-05:00

Here's an article about the areas who will recover the fastest. NoVa (Northern Virginia) is on the list, which makes me happy because, though we're not in NoVa, our economy is closely tied with its.

If NoVa has a fast recovery, and the real estate market looks up there, the same will happen in central VA and all of the places Madison Monroe has property. It looks like I might have gotten into this real estate gig just in time! Fortune favors the bold.

The Masonic

2010-11-20T16:52:00.000-05:00

The building with the tower is the Masonic building in Staunton. It is one of the tallest, most unfortunate spaces in town. I love this building. I worked on the fourth floor for around two years, and really like the structure. It's got a great deal of history. There's a door marked "Dungeon" leading to the cellar, and there's an ancient picture framed with marble. The fifth floor has a banquet hall and ritual room, the latter of which has three huge walls of stained glass. It's a really cool place to explore.

The problem with history is that it's so old. The problem with old buildings, they start being more expensive to maintain and operate than any investor will ever get out of them. It's hard to see in this picture, but there's a tree growing out of the fifth floor, you can just barely see it because it's turned yellow for autumn. Do you know what trees do the faces of buildings over time? Nothing good. There's a beautiful apartment on the very top floor... just one. The fourth floor houses the offices of the America Shakespeare Center, and then there isn't much else. It's a big, mostly vacant building. None of the windows really work, the air and heat are faulty, and I don't now how they're ever going to get tenants in the place.

What do you do with a rusty hood ornament that no one has the money to clean up?

Creative Real Estate and Reading Donald Trump

2010-11-19T08:29:00.000-05:00

One of the things I love about real estate so far is that it excites the creative parts of my brain. I've been involved in the arts for most of my life, and that's where I've worked and wallowed for most of my time between heaven and earth.

I'm reading some Trump books. Donald Trump likes to say that what he does is an art form. It's hard to believe at prima facie, but I'm coming around to the idea very quickly. I never know if I like Donald J. Trump, but I'm starting to do that, too, methinks.

I'd like to make enough money to live comfortably and help make the world a better place while remaining an artist. I don't think it's childish to want to stay artistically stimulated, even in my profession. Although it might seem like a stretch from time to time while I'm digging in the GIS for data on rental properties and visiting the tax assessor for info on sales histories and going rates, haven't I always started the artistic process with research and info/inspo mining? Don't I trawl books filled with artists who have come before to see what they've accomplished before setting out to try my own? The days of the gold rush are over, and we must follow in the footsteps of others, but that doesn't mean there aren't ways to be creative in our chosen fields.

Anyway, I found this short article that I liked about creative real estate. It's not the best-written thing I've seen online, but I like the sentiment.

Also, Donald Trump is selling his home in Palos Verdes; the wine room sells it for me. Holy crap I'd love to fill a wine room like that!!!

Some Jargon

2010-11-18T13:43:00.000-05:00

Half of learning a new business is learning that business's argot. If you have a great memory, it's a piece of cake to remember it all, but sometimes, if you're like me, a cheat-sheet comes in handy.

Luckily, About.com has an awesome little article on some of the calculations that realty people have to know to get by. Some of them are totally new to me, but I'm glad that this is here so that I can look it up any time someone throws a term at me I'm not completely sure about.

The photo above was swiped from a real estate site. I hate images like that, leaving nothing at all to the imagination and treating the customer like they're stupid. Derping around on the internet, looking at real estate sites, you'll find countless images like this one. It's probably big business making such drivel. I don't want to ever do something like that in this business. I want to treat the people I work with like humans who deserve all the respect and benefits ascribed to that species.

Proverbial Hello World Post

2010-11-17T09:49:00.000-05:00

This is what I look like when I'm squinting at the brightness of my future.

This is my first post of my real estate blog. I've lived in many places around the world, but I'm starting my real estate career in central Virginia. So far it has been an interesting adventure full of surprises and opportunities for education. I'm interested in real estate because it plays a major part in most people's lives, and I see it as a means to tangibly better our communities. It also seems to be a profession that can put to use the many talents I've acquired over the years through my varied adventures and experiences. I hope to chronicle my adventures in this field with this blog, sharing my thoughts and maybe inspiring readers.

This is Queen City Marketplace in Staunton, VA.

Queen City Marketplace is one of my first orders of business. We're seeing it as kind of a downtown bazaar, a place to open your own business on a scalable level. Artists and craftspeople and others can get a spot or a booth or wall space to sell their work. A shopkeeper experienced in retail sales will man the fort while artists do what they do best and antique dealers acquire more pieces and retailers can dream up the next big trend. I think it's a great use for this huge downtown location. It would bring more foot traffic downtown, and I think it would become a destination for shoppers year round.

This is Downtown Staunton, looking East from the Queen City Marketplace.

Staunton is a pretty awesome place to live. It isn't your typical main street little town. A lot of young people and artists live here, and there are always more coming. It makes sense. Many of my friends telecommute or sell their art online. Others work in cities like Harrisonburg or Charlottesville and live here because its standard of living is better. We have great restaurants and movie theaters, night life, cafes, and cool places to live that don't bankrupt you. The art and music scenes are the envy of many nearby towns. Staunton really earns its name "Queen City."

Staunton is not the only place we service, but I live here and I'm concentrating on it for now because there's plenty to keep my busy already. If you don't live in Staunton, you might want to consider it. You'd probably like it very much.

Thanks for reading. I hope you like my adventures in central Virginia.