It was a packed house of real estate professionals last Wednesday at the “Single Family Take Center Stage” event, which took place on the campus of UCLA. The Agency’s CEO and co-founder Mauricio Umansky was a panelist; Billy Rose, President and co-founder of The Agency, served as the program’s moderator.
The lively roundtable discussion, co-presented by Arixa Capital Advisors and UCLA Anderson School’s Ziman Center for Real Estate, explored economic trends in single family housing with a particular focus on the California residential market. Panelists shared their first-hand knowledge of real estate trends, and projections for where the market is going.
Joining Umansky and Rose on the panel were Gregory Heber (Community Rebuild Partners), Ramin Kolahi (Lighthouse Investments), Gabe Weinert (Johnson Capital), Kristoffer Winters (Kristoffer Winters Company), and Jan Brzeski (Arixa Capital Advisors). The group of experts had a healthy debate regarding the state of the market, and discussed the idea that recovery is on the way, especially when it comes to single-family homes.
Umansky brought up a compelling theory regarding rising mortgage and interest rates, stating that this rise has actually driven growth in real estate values. Because consumers are afraid that rates will rise ever further, they are purchasing homes now.
The panelists also offered advice for anyone interested in single-family home investments.
Kristoffer Winters commented that single family home renovation and flipping is a full-time job that requires dedication and hard work. Umansky, who also has experience with house flipping, told the audience that education about the local market is imperative, as well as hiring professional contractors and knowing your knowledge parameters.
In total, 150 industry professionals were in attendance.
Mauricio Umansky was just named the #1 Realtor in California and the #3 Realtor nationwide by The Wall Street Journal. Connect with him on Twitter (@MauricioUmansky), and view his profile and listings here.