Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes)

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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I am discovering that bank failures are a favorite past time for the rich & powerful as we discover them selling stock, cashing in right before failing. As usual, the government bails them out. What just happened? Money changes hands. The bizarre part? Not only has this happened so many times, that to keep the game going so the little guy participates, they guarantee or insure against loss causing us to keep playing our part. If someone tracked these failures, they would discover a pattern. As far as it affecting Real Estate, the dynamic of owning cannot be stopped only slowed and today, there is such a lack of inventory plus reason to not trust leadership that having a secure place of your own is more in demand

May 01, 2023 12:20 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Not... it's been absorbed by JP Morgan Chase.

May 01, 2023 12:54 PM
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Chase is yet again getting another free bank. Our government is is printing money.

May 01, 2023 12:26 PM
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

I think our currency will be failing... maybe even in my lifetime.  People better wake up.

May 01, 2023 10:28 AM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

i have read the responses and will say 'I echo the same sentiments" ...

May 01, 2023 01:16 PM
Kathleen Daniels, Probate & Trust Estate Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

One day at a time. Let's see how the shit show unfolds and unfolds, and unfolds as evil and corruption prevail. 

People better wake the **** UP! 

May 01, 2023 12:43 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

The Dominoes are Falling.  

    There will be shortages of real estate, as people pull their paper-money life savings out of the bank and buy homes and land with it.   Prices will go up (supply and demand).

    Interest Rates will go up.   With less money to loan out, the banks will have to charge higher interest rates on what they have left. 

May 01, 2023 10:56 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Not in a positive way. America is being destroyed from the inside and the elite do not care because they are finally secure!

May 01, 2023 10:37 AM
Peter Mohylsky 850-517-7098
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

It has been interesting to watch especially if you can believe that the fed worked over the weekend to put the deal together.  I really wonder what the details were.  and how much is it going to cost us.  

May 01, 2023 12:42 PM
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

not a prognosticator of things outside my control.

May 01, 2023 11:34 AM
John Juarez
The Medford Real Estate Team - Fremont, CA

First Republic Bank was, in fact, saved from failure by being purchased by J.P. Morgan Chase...already the nation's largest bank.

No...the sky is not falling.

May 01, 2023 04:19 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

How will the take-over by Chase effect real estate?

Those tired of banks and their potential for failure will invest in more real estate. This will lead to an escalated inventory shortage - again.

May 01, 2023 09:42 PM
Roy Kelley
Retired - Gaithersburg, MD

Uncertainty does not usually bring the best results. Large depositors are worried about the regional banks that are so important in many of our communities.

May 01, 2023 11:41 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I can not imagine it having any effect at all Will Hamm but I've been wrong many times before.

May 01, 2023 06:37 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Another bank? There were only 2 that I'm aware of & that has all been fixed.

The FDIC had nothing to do with Credit Suisse.

May 01, 2023 10:36 AM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

It seems it may be a temporary distraction. Most will forget about it until it becomes a bigger issue.

May 02, 2023 07:13 AM
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

First Republic Bank failed due to errors in judgment by management, giving out too many low interest loans to wealthy clients hoping to generate fees from other business and wealth management for those clients.  

When Silicon Valley Bank failed, these wealthy bank clients reduced the amount of funds in First Republic to the FDIC insured minimum.  This "run" on the bank caused it to collapse.  

Management's business model failed and other banks that cater to wealthy clients without regard for prudent banking and lending practices will find themselves in the same boat.

May 02, 2023 06:04 AM
Raymond E. Camp
Ontario, NY

As we have a shortage of so many things and an overabundance of lawyers, media and the experts in so many fields called politicians, who knows!

May 02, 2023 05:39 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I echo the comment o f Kathleen Daniels, Probate & Trust Estate Specialist. If we don't wake-up quick, we may not have a lot to wake up to! 

May 02, 2023 03:48 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Another bank, another crypto, another big store fail or bankruptcy, etc.~ seems we hear it more often after covid. I just checked what industries are hit by any recession the most and here we are: 

''5 of the riskiest industries to work in during a recession, according to economists
  • Real estate.
  • Construction.
  • Manufacturing.
  • Retail.
  • Leisure and hospitality.''
May 01, 2023 11:58 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Probably wont have much effect on real estate, may impact banking though.  Perhaps they will reinstitute some of those regulations that were relaxed a few years ago.

May 01, 2023 10:35 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I have no idea. Hopefully it will turn out alright for everyone.

May 01, 2023 06:38 PM
Doug Dawes
Keller Williams Evolution - 447 Boston Street Topsfield, MA - Georgetown, MA
Your Personal Realtor®

People will continue to buy and sell Real Estate. Banking will still consolidate until there are few regional banks left

May 03, 2023 09:48 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Will Hamm  It should stop the Feds from raising the rates as it is hurting small banks but will it?? Let us hope so! It is very apparent that the rise in rates is hurting the small banking  institutions.

May 03, 2023 08:47 AM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

The rich get richer and the poor get poorer.  So if you sell high end real estate things are looking good.

May 02, 2023 05:16 PM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

It hasn't had much impact - that banks struggles have been digested by the markets over the past few weeks so no surprises (surprises are what drive volatility)

Business as usual.  Should there be further issues in the banking system, that could cause some issues, but for now, things are stable-ish.

May 02, 2023 10:03 AM
Ahmad Battles
USA Home Solutions - Kansas City, MO
Investment company with 18+ yrs experience in RE

With banks failing and rates climbing, it absolutely will slow the housing market.  Higher interest rates will always produce lower demand as well as the consumers uncertainty in the market, caused by banks failing.  However we will not see a dip in real estate as we seen in 2008.  While home values will not appreciate at the rates we have seen in the past years, we will not seen the drop in values that 2008 produced.  In 2008, when a homeowner lost their ability to repay loans and faced foreclosure, many didn't have an option to resale the property because the home values had slipped below the mortgage balance.  Overall people should be cautions on any serious financial decision but be certain that the market will recover.  

May 03, 2023 11:37 AM
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Home loans will fluctuate with many factors.  Banks closing won't matter but a recession will impact the real estate market.

May 27, 2023 02:57 PM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

While about half of my deals are all cash, of those that financed- First Republic represented an outsized portion of deals I have closed. I largely dealt with them on 2 different ends of the spectrum. First, and underreported in the press, I worked with them on financing for Community Reinvestment Act (CRA) loans- areas that had been previously redlined. These have been typically sales in the entry level  of the market - $400k-$1m. Up until around January 4th of this year the rate on those loans was 3.75% on a 30 year fixed and it also included up to $4k in closing cost assistance. Typically the borrower profile was very strong...but not the really wealthy client that First Republic was known for. After Jan 4th- the rate jumped up to 4.75%, but was still at least 75-100 basis points cheaper than everyone else. The rate didn't change again until the crisis became evident and right before the takeover they jumped to 6.40%


Then there was their primary target business in which I worked with them, the more affluent relationship banking they were known for. The areas I cover don't have as many high end properties- so I dealt with them less on this end, but they were often one of the shortlist lenders I would suggest to these buyers. 

Both Credit Suisse and First Republic were rescued- so as far as impact looking forward- it's a non-event unless contagion starts. From my days in finance - I have consulted for UBS for their Mortgage Backed Securities trading team as well as their Precious and Base metals trading desks and I know a bunch of people that work for Credit Suisse - so I already know there will be some tension over the integration coming from staff on both sides. I had also done a lot of merger integration work with JP Morgan and Chase and a few other Chase as well as JPMC acquisitions that I can't even recall the entities that were swallowed up so I know the tension is normal and will dissipate over time as turf wars are won and lost. 

May 06, 2023 07:31 AM