The final podcast in the changes in real estate series is here!

Today we wrap up the Legislative Changes in Real Estate series with a discussion of the “wait and see” attitude in investment real estate. Let’s take a look!

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 9

René Nelson: Marcia, let’s talk about the concept of “wait and see.” Because we both deal with people that have that attitude. What’s your thoughts on “wait and see” in the residential world?

Marcia Edwards: Well, it’s kind of fascinating, you wonder what they’re waiting to see the doomsday or the miracle pricing. And somewhere in between is probably where it will be at all times. What you really gotta do is take a look at what you need for your personal needs long term and decide when it’s urgent to you.

René Nelson: I think for people that own investment property, a lot of people think, “Well, I don’t know what I would 1031 exchange into. I’m going to wait, I don’t know what I want to do.” Well, folks, I hate to tell you this, but if President Biden’s plan goes into effect, if you sell and decide, “I’m not going to replace that property.” Your tax just went up by another. It doubled, now you’re at 40% for capital gains, you can’t afford to wait. You have to come up with a plan.

Marcia Edwards: I wish we could create urgency and help people understand the magnitude of the difference of a situation, especially investment real estate. We all sit and don’t go and look at it often enough, don’t review our portfolio or our values enough. I think that’s an urgent matter, and it’s maybe as soon as 2022 that that would flip on people. Right?

René Nelson: Yeah, they’re talking about December 31st, that January 1st, that new capital gains will become law. So for serious investors who are trying to really come up with a plan, I recommend that you get a pinpoint price evaluation on your property so you can figure out what’s your value in today’s market and what could you do with that if you wanted to 1031 exchange it.

Duplexes are few and far between, but Marcia and I both know that they’re out there, she can find them, it just takes a little bit of time. So it goes back to that plan, you can’t just think, “Oh, I’m just going to pull this off in 30 days.” No, it takes a couple of months to find the right duplex right now.

René Nelson: It’s possible and it’s doable, so if you have an older property, lots of deferred maintenance, people will buy that. Marcia has a list of builders and contractors that are looking for value-add opportunities, so don’t drag your feet, don’t tell yourself, “Oh, I’m going to do a weekend warrior project and go in and fix it up.” Because if you’ve got tenants involved, it’s a lot of time, it’s a lot of effort, and you might be better off to just give that problem to a different person.

Marcia Edwards: I would encourage you to have the conversation now with the realtor, with René for multi-family, with me if it’s a single family, and take a look at it. It’s not going to cost you anything. It will cost you a lot if you don’t.

If you’d like help understanding the true income value of a property that you’re interested in investing in, schedule a 15-minute discovery call with expert René Nelson today.

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Check out the next podcast in our series on changes in real estate!

Today Marcia and I discuss why owners of residential properties selling.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 8

René Nelson: Marcia, let’s talk about the top five reasons that you see someone that would want to sell this year.

Marcia Edwards: Well, the same five reasons that the National Association of Realtors survey reflected, is where I would go. First, your home is no longer meeting your needs, and your needs may have shifted.

So not just life happening, divorces, marriage, births, deaths, but also there’s an element of using the space for home work, work at home, that is to say 60% of the worker force is still working from home, and some of that may not shift back. So you find that you’re among the youngsters in your house, they’re going back to school but you want a separate space for your office, and you don’t have that given the current floor plan, you’ve got other needs that you gotta look at for your adjustment.

René Nelson: You know, I definitely think that shifting back to the office, especially locally in Lane County, I think a lot of people have figured out how to work from home and be productive. So I’m with you, I don’t see a big shift necessarily with everybody migrating back to the office, especially with the summer coming. I think a lot of people are going to try to figure out how to work from home to enjoy time with their kids.

Marcia Edwards: So remodels, ADUs, Auxiliary Dwelling Units, and purchase of properties that fit better is going to be common. Another reason that people plan to sell this year, is a profit that they can make, they can actually make on average 26% more than they made two years ago on their home.

René Nelson: Wow, 26%. I know a lot of people think, “Well, I’ll wait till next year.” But I think that could be a bad bet. What are your thoughts?

Marcia Edwards: Well, I think the heat in this market and the demand that’s there, will not be there next year. I think that the demand will soften. I do not think your prices will take a dive, but if you want to ride the market so to speak, and optimize your return, now would be good, especially if you don’t have to replace that property. If you’re moving into senior living, community living, moving to be closer to family, things like that.

René Nelson: Excellent. Okay. What other reasons?

Marcia Edwards: Well, a smaller house is less work, so some people are getting tired of their space, and that’s not just right now, but this year, it is one of the top five reasons people are choosing to sell, is because they’ve decided they don’t want to put their time and their weekend into the yard, for example.

René Nelson: Wow. That makes sense.

Marcia Edwards: We also want to live closer to friends and family. With COVID that’s been a thing, where you couldn’t travel to go see your parents, it was painful. It’s become painfully obvious that that’s a priority you have to do, execute on when you can take closer to them. The fifth reason is they want different features and amenities, maybe they have put off getting a separate theater room or another room for the TV or things like that that have changed. It’s a great time to decide whether you’re going to make a change for any of these reasons, in the market like this.

If you’d like help understanding the true income value of a property that you’re interested in investing in, schedule a 15-minute discovery call with expert René Nelson today.

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Next in our changes in real estate series is best pricing practices.

Today Marcia and I take a look at what you can expect when pricing a property for sale.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 7

René Nelson: Marcia, you said something brilliant as we were coming on to the radio. Let’s talk about pricing, because I asked you about how do you hit the mark for listing at the right price, and you said…

Marcia Edwards: What I said is, it’s not based on history, it’s a future event you’re trying to predict, and to do that in this appreciating market, you’ve gotta let the market take care of itself. So what you’re going to do is you’re going to price it below what the market would likely receive based on history, just barely below like an auction, then you let the market push it upward.

René Nelson: And, folks, this is not a game, this is your house, this is… If you’re the seller, this is your money. So Marcia is trying to get you top dollar for your property, and if you’re a buyer, she’s trying to help you win, so your offer gets selected, but there is a strategy here that you have to adhere to. You can’t just come in and think, “Oh, I’m going to lowball, and the seller is going to counter to me.” They don’t even counter any more, right?

Marcia Edwards: It’s that clean, it’s that fast. It comes in and goes. So if you have a property that should sell for 550, I would encourage you to price it about 500 to 525. The reason for that is, it gets more people in the front door. The more people you get in the front door, the more offers you’ll have to entertain and the more competition you can reflect to the other buyers to bring their A game.

René Nelson: Remind me again, when you have multiple offers, do you go back and tell everybody best and final, or do you do an escalation clause? And can you just tell our listeners what an escalation clause is?

Marcia Edwards: Sure, so what I would suggest is when there’s a deadline, you’re giving notice that the highest and best is due on that deadline as a realtor in this market today. So if you say next Thursday at 4:00 PM all offers will be reviewed by the seller, that’ll be your window, that’ll be your one window. So an escalation clause has become really common. An escalation clause is where you offer a price and then you’ll say, “But I will pay additionally up to… Say that 500 I offer up to 550 at 2,500 increments. I’ll beat any competing offer.” So you’re promising to beat what other offers come in beyond that.

René Nelson: And in that escalation clause, if I win with my escalation clause, will you show me the other offer just so I know I wasn’t duped?

Marcia Edwards: They ask for that as a condition of the purchase. I remember as a buyer, you’re proposing that we play this game called escalation clause. The seller can just say, “I’m going to counter you at this price, I’m not going to show you any evidence of anything.” They don’t have to engage in the game, but it is a strategy to not show your hand wide open and say, “Take all my money while it’s here.”

René Nelson: That makes sense.

If you’d like help understanding the true income value of a property that you’re interested in investing in, schedule a 15-minute discovery call with expert René Nelson today.

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Our next podcast discussing changes in real estate is here! Check it out to learn about handling changes in investment strategies.

Today Marcia and I talk about the process behind pricing a residential property.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 6

René Nelson: Hey, Marcia, let’s talk about pricing strategy and how you do that with single-family homes.

Marcia Edwards: Well, it’s so unpredictable right now, I don’t know how the appraisers are doing it. I admire their efforts to really find a basis for these prices we’re selling properties at. It’s going pretty well though. The prices are keeping up with the market. I think it’s a realization that it’s not a bubble, it is a supply-side problem, which is a little bit different. It’s not something that’s going to tank and remain and make these buyers vulnerable in the future.

René Nelson: Well, we’ve talked about you receiving multiple offers on a property, so how do you do that when you’re helping advise a seller on where to price their property?

Marcia Edwards: Well, like an appraiser, we look at history to base our planning number on, but that’s not necessarily the optimum sales price available in this market today. If there’s one home for sale under 500,000 in the Ferry Street Bridge area, we should play the heat of that market, and respectful. We’ve gotta honor these buyers and make the process predictable, but let’s say we put the home on the market Thursday, over the weekend people view the property, and by the following Wednesday, they have to get their offer in front of the seller. So we set a deadline, and so what we’re going to do is we’re going to set the price a little tighter than what you’d guess it will sell for because you cannot predict what it’ll sell for. You’re trying to get all the people you can through the front door to start that auction type scenario.

René Nelson: Okay, and do you just call for best and final offers when agents start putting in bids or putting in offers? How do you do that?

Marcia Edwards: There are not a lot of second chances in this market, so to hold your hand is not a wise strategy. I’d say, decide what it’s worth to you, decide what it’ll be worth to you in this market given the other opportunities. On limited opportunities, you may need to move now. Make a smart choice, but also recognize that you’re not going to get it unless you’re really aggressive.

René Nelson: Okay, so what I hear you saying is if you’re advising a seller and let’s say the property would sell or you’d list it for 500,000. You’re recommending listing it slightly below, so you have an auction-like atmosphere and a flood of buyers looking and interested?

Marcia Edwards: Yes, what you’ve got to do is you’ve gotta get as many people through the front door as possible. Like any auction, if you think about an art auction, they do price it out of the gate lower than they anticipate the sale to be, and that is to get the interest and the heat and the emotions going. If you go inside a house, then you’ve got the emotional attachment to it and you want it more, and then you’ll raise your price on your own to get that property.

René Nelson: Yeah, that makes sense.

Marcia Edwards: It’s a fascinating market. I’m learning every day.

If you’d like help understanding the true income value of a property that you’re interested in investing in, schedule a 15-minute discovery call with expert René Nelson today.

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Our next podcast discussing changes in real estate!

Today Marcia and I shift focus to current trends and explain how long people are tending to stay in their single-family residences.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 5

Marcia Edwards: Well, I find it really interesting right now. Of course, we’re 56% down in inventory from this time last year, so we have a supply-side problem. People are asking, “What’s next? How do I navigate?” People are seeing a little more certainty in their employment and a little more predictability in our COVID crisis, and so with that and in the rearview mirror or closer to it, they’re trying to find a way to acclimate.

René Nelson: You mentioned the supply-side concern. How long are people staying in their houses right now? What are you seeing for sellers that are looking to sell? Are most people downsizing and going into smaller, or what’s the motivation?

Marcia Edwards: Well, people are actually putting off the move, and that’s part of our challenge here. Is back just in 2008, it was predictable that someone would live in their home on average for six years, national trends, now they’re at 10 years nationally. Just what is that? 14 years later, 12 years later. That’s fascinating to me that everyone’s kinda put pause on the sale.

René Nelson: And tell me the reasons why. What’s the top three or four reasons?

Marcia Edwards: One of the reasons is there’s no urgency, so they see that they could downsize, their kids are gone, they’re probably not coming back, and so you’ve got a situation where you’ve got extra housing that you’re cleaning, that you’re maintaining, and that you’re heating and you don’t really think that you have to do something today.

René Nelson: Okay. And if I wanted to sell, my motivation, let’s say I want to downsize, can I find something in the market?

Marcia Edwards: Not in this market, but I don’t think that’s why we’re at 10 years of staying in the home. I think that’s more of a lifestyle shift, it’s more of a hesitancy and a pause that has happened over the last four years. So what we’ve got now is we’ve got a market where people are renovating and aging in place and really trying to make it a long-term commitment to their house.

René Nelson: Okay. And how has COVID made an impact on people wanting to move?

Marcia Edwards: There are about three reasons that owners don’t put their house on the market, at least during COVID. One is financial uncertainty. When you’re financially uncertain, you start putting the dollar bills in the mattress, and you do not try to take a risk. And then second is health concerns. Some people are concerned that they’d be vulnerable in the transition, others are vulnerable, or are going through something as a family. And then just generally, 34% of Americans felt that life is just too uncertain to move. Now, as we create certainty, we should see some things come into motion.

René Nelson: Are you seeing more properties come on the market?

Marcia Edwards: They’re just turning a corner now. Hopefully we’ll have some relief.

René is available to answer your real estate investment questions. Schedule a 15-minute discovery call to better understand your investments and the market today.

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Our next podcast in our Legislative Changes in Real Estate series is here, this time with a focus on planning.

Marcia and I take a look at how to prepare for the potential change.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 4

René Nelson: And I’m René Nelson with Pacwest Commercial Real Estate.

Marcia Edwards: Well, it seems like President Biden’s going to gun for some small heavy hitting on some small investors, doesn’t it, René?

René Nelson: Yeah, he is proposing that capital gains will increase by up to 40% at the end of the year, and so that’s going to make an impact both on your real estate portfolio as well as inheritance tax. He’s talking about making an impact on all of it.

Marcia Edwards: So we’re talking about the profits that you’ve gained through appreciation over time on what you’ve put into the property in one way or another, and looking at taking out just the profit. That could be at a 40% tax rate. That’s scary. Now that was not today. That’s the good news. Good news is you have time to do the right thing and get your properties right-sized now.

René Nelson: Absolutely. What I think a lot of people need to do is take a look at your portfolio and start planning now. Talk to a real estate attorney and/or your CPA. Both of those people are super knowledgeable in tax strategies and what you need to do in order to be prepared. And you also need to know the value of your properties. So if you have a one to four family property, a one to four family unit property that is maybe a duplex, or a triplex, or even a single family property that you have a tenant living in, you need to get in touch with Marcia and find out what the value of that property is because your estate attorney and your CPA will want to know that.

Marcia Edwards: And there’s a lot of reasons people are reconsidering being landlords at all. If that’s the case, I would encourage you to consider taking the capital gains hit now versus when it’s from 20% to 40% cap.

René Nelson: Absolutely. I see a lot of people who thought that they were going to do a 1031 exchange into something easier and less management, less maintenance, and they’re just deciding that they’re going to sell and take the cash now while it’s only 20%.

Marcia Edwards: When you bring this to the table, it really makes money for people because this is a big deal. I would encourage you, if you’re over four units, to contact René Nelson. She’s got a finger on the pulse on what the values are and can tell you how to manage and navigate this with the help of your CPA and attorney as well.

René Nelson: The one piece of advice I’d leave you with is be ready and be open to change, because it’s really critical. If you put your head in the sand, it’s going to cost you a lot of money down the road.

Marcia Edwards: Or your family.

René Nelson: Yes.

Marcia Edwards: One way or another, mate, you’re going to take a hit. Let’s make it minimum.

René is available to answer your real estate investment questions. Schedule a 15-minute discovery call to better understand your investments and the market today.

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Here’s the next podcast in the Legislative Changes in Real Estate series!

Marica and I talk about the effects that the proposed legislation would have on property heirs.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 3

Marcia Edwards: Well, René, we’ve been talking about the impact of some legislation federally that’s coming down the pike in regards to capital gains. It sounds like the Biden administration intends to put into legislation, by the end of this year, a 40% capital gains tax, which was previously 20%. Is that right?

René Nelson: Yeah, the anticipation is that they’re going to try to pass that by the end of the year, so December 31st, it will become law January 1st. And again, they’re still mulling it over and deciding where the limit is. President Biden basically said that it would be anything that sold at 500,000 or over.

Now, here’s an interesting strategy that I see, Marcia, most people that own investment property and who have been building a portfolio, always think, “Well, I’m just going to keep what I have, and I’ll pass away and it’ll pass on to my kids or my heirs, and then they’ll get the stepped up basis.” Meaning it goes to the new value and that’s what the kids take the value at, and they don’t have to pay tax on that.

René Nelson: But that law is also on the chopping block, and President Biden is basically now going to say, that if it passes to the heirs, the new proposed change, it would cut off at a million dollars, $2.5 million for a married couple. But if you have a portfolio worth more than $1 million, and you pass away and that goes to your kids, they’re going to have a tax consequence.

So let’s say that you bought a property for $100,000 years ago, and now you pass away and it’s worth a million dollars, well, there’s a $900,000 profit on that, so your heirs are going to owe $360,000 within nine months of your death. And I know nine months sounds like a lot, but I deal with estates and I see where it… It just takes a while to get all that settled. So my concern for our nation and for our listeners, is it’s going to force the kids, it’s going to force your heirs to sell the real estate, because not everybody is going to be able to come up with $360,000 in cash.

Marcia Edwards: Right, exactly. Especially in that circumstance. So what you’re looking towards is foresight, you’ve got to take a look at this and face the fact that it’s very real, and create some urgency in your own portfolio to get right sized within these time frames.

René is available to answer your real estate investment questions. Schedule a 15-minute discovery call to better understand your investments and the market today.

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Check out the next podcast in our series on the proposed legislative changes!

Today Marcia and I explain what the capital gains tax increase will mean and its importance regarding your investment decisions.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 2

Marcia Edwards: So last program, we were talking about some changes legislatively in capital gains tax. Let’s get a quick summary of what’s going on that you see coming down the pike.

René Nelson: Yeah, President Biden is proposing to raise capital gains from 20% to 40%, so what that means, in the past, you could sell a piece of real estate that was an investment property, and you could roll that profit forward into the new property and not pay any tax on it, or you could decide to sell and pay capital gains and pay 20%, but that’s going to increase, it’s going to double, it’s going to go to 40%.

Marcia Edwards: Or you never sell and when you die, that is adjusted, so the basis goes up to the price, right?

René Nelson: Yeah. So, it gets passed to your heirs. And we need to talk about that, but where I see this impacting most of our listeners, we have a lot of clients that own real estate, passive investment real estate, and a lot of people have been bumping along and just trying to survive through the COVID and the rent hardships and the different things, but a lot of people are starting to edge towards retirement and thinking, “I’m probably going to need to go into something with less maintenance, something easier to get cash flow off of, where I don’t have to do as much work.” Well, you need to come up with a plan because here’s the dilemma. If you wait a year or two and you decide to sell, your capital gains are going to be potentially double, 40%.

Marcia Edwards: 40%, that’s fascinating to me. So that’s a big grab. So this makes things that have been important but not urgent, now also urgent in your portfolio and your planning. Today is a great day to take a look at this before you’ve got the time bomb ticking.

René Nelson: Yeah, and President Biden said that he was going after the super rich and the wealthy on this, but here’s the deal. Those people have a whole team of investors, a whole team of advisors that are taking care of them. They’ve got the tax strategists and the CPAs. This is really going to impact the middle Americans. It’s going to impact us, those of us that own apartment complexes and investment property.

Marcia Edwards: Exactly, and the $500,000 price point, exceeding 500,000 doesn’t take a lot now.

René Nelson: No.

Marcia Edwards: Median sales price is 403, so we’re in a market where this is going to bite those of you that was not intended to be the target. Let’s talk about how to plan for that next program.

René is available to answer your real estate investment questions. Schedule a 15-minute discovery call to better understand your investments and the market today.

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Our next podcast series has arrived!

This series focuses on the proposed legislation changes we’re looking at in investment real estate. Listen in as Marcia and I take a look at how it would affect the 1031 exchange.

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Legislative Changes in Real Estate – Part 1

Marcia Edwards: Well, let’s talk a little bit about what’s coming down the pike legislatively. I knew there were going to be changes with the change of the administration at the federal level. Let’s talk about what we see, how it will reflect in real estate.

René Nelson: Okay, so President Biden is proposing some new rules for capital gains. Investors use 1031 tax deferred exchanges to buy and sell real estate and keep that money tax deferred. President Biden is proposing to increase capital gains from 20% to 40% with profits that exceed over $500,000.

Marcia Edwards: So let’s break this down. Capital gains, define that.

René Nelson: Okay. So capital gains are when you sell a rental property. So if you have not lived in it. It used to be two out of the last five years, but now most CPAs say three out of the last five years. If you have a rental property and you sell that, in the past, you could exchange all that profit forward into a new property, and I’ve got an example that I’ll share with you, but you basically could sell a property and roll all that money forward into a new property, but now if that profit exceeds 500,000, he’s going to basically tax you at 40%.

Marcia Edwards: So the gain is the benefit, the financial upside of your property investment, and that benefit is going to be taxed at 40%?

René Nelson: Yeah. Let me give you an example. If you’re an apartment complex owner and you own something at 1.2 million, but you originally purchased it for 500,000, under the current law, the owner could exchange for a like and similar property, so you could go into an investment property, and you could defer that $700,000 of profit into a new property.

Marcia Edwards: So you’d scoot it over and it would not be taxed as an event at that time, but deferral means it will be taxed eventually?

René Nelson: Yes. And normally what people would do is they would just pass that on to their heirs. So the new law that will be changing with the capital gains, on that $700,000 profit, if you paid a 40% tax rate, your capital gains on that $700,000 profit would be $280,000.

Marcia Edwards: Isn’t that fascinating? That’s a big deal.

René Nelson: It is.

Marcia Edwards: So let’s talk next program about how to plan for this and how to build up your defense to this situation if you’re an investor.

René is available to answer your real estate investment questions. Schedule a 15-minute discovery call to better understand your investments and the market today.

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The final podcast in the Smart Real Estate Investing series is here!

Today we wrap up the series with a discussion on the invaluable expertise that a realtor brings to your investing. Let’s take a look!

René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker

Smart Real Estate Investing – Part 11

René Nelson: Marcia, in the last show, we talked about my expertise, but now let’s talk about your expertise as a real estate broker. What’s your sweet spot?

Marcia Edwards: Well I love houses, simply put, but let’s talk a little deeper than that, what I like to do is help people navigate long-term planning for their homes and their lives and their families, and if it’s building a home, selling a home, buying a home, it’s interesting and it’s a dynamic right now where there’s so many opportunities for sellers and not enough for buyers that people are turning to things like land development. If you have a house on an acre, a small 1,200 square foot house on an acre, what do you have as a savings account in that land? Could it be developed? That’s the conversation I enjoy having too.

René Nelson: Yeah. That is one of your strong suits that I have no knowledge. When somebody says, “Should I develop, could I develop?” I’ve got architects and different people that are industry-related, but you really understand that chunk of land and how you can get your highest dollar out of it.

Marcia Edwards: Yes, it is raw land and there’s development costs that we need to understand, and then the developer sells it to a builder, then a builder puts a home on it. So you gotta look at the end-user, the buyer, what they’re willing to pay back into the raw land, and each person that has their hands on it and helps develop it is going to want a little profit, so there are some numbers to look at.

René Nelson: And are you seeing much development happening right now?

Marcia Edwards: No, in fact we’re way behind last year for new residential permitting in the city of Eugene. It’s fascinating, but at the same time you think, “Well the supply is so low, you’ve gotta put more supply out there builders. It’s gotta be irresistible.” But the cost of materials right now and the scarcity of land available locally has really made builders resist that.

René Nelson: And I haven’t seen many people go for adding the ADU unit or the additional dwelling unit in their backyard, like the city thought that that would help add for the density. Have you seen that?

Marcia Edwards: Well we haven’t seen in the city of Eugene, because they haven’t released the rules to the game. So by June 30, they’re going to have to say, “These are the rules to the ADU on R-1 zoning.” ADUs, auxiliary dwelling unit, put a separate unit on your traditional single-family residential lot. It’s a thing, we’ve gotta make it available, there’s a lot of opportunity for housing people, and that’s the concern in an affordable way with ADUs.

René Nelson: Yeah. For those of you that don’t know, Marcia grew up in a real estate family. Her father started Rams Real Estate in 1976?

Marcia Edwards: ’67.

René Nelson: ’67? Wow. So she’s born and raised in it.

Marcia Edwards: Thanks, René.

If you enjoyed listening to the podcast, expert René Nelson is just a 15-minute discovery call away from answering your questions. Give Pacwest a call today.

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