Rich Von Discusses Tough Times in the Housing Market

Rich Von

Rich Von

Rich Von has more than a decade of experience in purchasing and flipping over 1700 distressed properties. During this time, Rich Von has lived through an economic rollercoaster, observing that the economy can have an extremely discernible impact on the real estate industry. Below, Rich Von answers a few questions about the effect of tough economic times on American homeowners.

Q: Why are so many houses remaining on the market for years at a time?

Rich Von: Mostly, it’s the fact that the properties are not priced right—or there is something wrong with them (structurally) that requires significant investment to bring them back to market standard.  Plus, with such a high unemployment rate in our country, many would-be homeowners simply can’t qualify for a mortgage, decreasing the number of potential buyers. This has all contributed to creating a stagnant market.

Q: Many homeowners are now “underwater.” What does that mean?

Rich Von: A homeowner becomes “underwater” when he or she owes more on a home than it is worth. The homeowner can’t sell until home values increase, unless he or she can afford to pay the bank that owns the mortgage the shortfall, or difference between sales price and amount the bank is owed.   In this case, of course, many homeowners negotiate “short sales” with the bank—whereby the bank waives the shortfall and promises not to pursue the owner for the difference.

Q: But isn’t this the best time to buy a new home, with interest rates so low?

Rich Von: The fact that interest rates are at an all time low makes it a great time to buy; but because of the Great Recession of 2008, banks are wary—which makes it very difficult to qualify for a home loan.  Gone are the days of stated income—today, you need a full time job and the ability to document that you can really afford the mortgage before a bank will loan you money to buy a house.  So,  yes, interest rates are low, but it’s tough to qualify for those interest rates—which is why the number of renters in our country has grown, and will continue to grow, so dramatically.  And one more thing—for those that qualify for mortages— many are not buying more expensive properties—but are instead choosing to refinance and make improvements on their existing homes.

Q: Has the increased number of foreclosures have a negative impact on the real estate market?

Rich Von: Yes, these foreclosures have flooded the market with properties for sale. Making matters worse, these properties often sell for low dollar amounts, lowering property values overall in these neighborhoods.

Rich Von points out that the real estate market has always been cyclical, so this downturn is likely to change in the coming years. Meanwhile, renters are in a great position to buy, with interest rates and home costs at all-time lows, concludes Rich Von.

Rich Von is the Operations Manager of Von Vesting, a full-service distressed property business. Along with partners Tiffani Von and Kale Flagg, Rich Von and the team at Von Vesting specialize in sourcing, purchasing, comping, performing title checks, and selling distressed properties. Rich Von and Von Vesting have contributed to the revitalization of areas that were in need of an economic boost.

 

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Reward by Recognition | Rich Von Alvensleben Says it’s the Only Way to Motivate

Rich Von Alvensleben

Rich Von Alvensleben

Building a reliable sales team means letting the producers know they are appreciated, says Rich Von Alvensleben.

In sales, the most important element to success is happy people, remarks Rich Von Alvensleben, a former sales lead and representative for National Safety Associates. In his career, Rich Von Alvensleben has generated hundreds of millions of dollars in sales revenue and helped countless other find the same success. Here, Rich Von Alvensleben offers tips on how to grow an innovative and prosperous team.

Forge Friendships

According to Rich Von Alvensleben, people may drudge through their days and get by on minimal effort for a boss. But, when they are working to help a friend, the sky isn’t even a limit. Rich Von Alvensleben says establishing a level of trust and camaraderie with your team can mean the difference between success and failure. The best business leaders are those who are available for one-on-one chats and know how to instill the values of confidence and reliability in their team, adds Rich Von Alvensleben.

Speaking of Reliability

Another element to overall success is showing your team that you, yourself, are reliable and able to produce on your own. When they see success in action, says Rich Von Alvensleben, they will want it for themselves. And, if they like you, they will want you to enjoy more success – which in turn they will share in. Rich Von Alvensleben reports that his best producers were also the ones who built teams of dependable people. Leading by example is their secret to success. When a sales team knows that you are steadfast in your efforts, and see that this consistency has put you in a position of power, Rich Von Alvensleben knows from experience that they will work even harder to become your equal.

Recognize Real Potential

Rich Von Alvensleben says that every person thrives off praise. In a sales situation, the recognition of closing the deal is almost as important as signing the papers. It’s a well-known fact that people want to be noticed for their hard work; otherwise, they would not invest so much effort. According to Rich Von Alvensleben, the financial rewards a team creates for themselves isn’t enough. They also need to be recognized for a job well-done.

Public recognition of positive actions motivates in two ways. First, says Rich Von Alvensleben, it makes the target of your praise feel like his or her work isn’t in vain. Second, according to Rich Von Alvensleben, it feeds the rest of the group and makes them hungry for the same acknowledgement and show of respect. However, Rich Von Alvensleben cautions against praising underperformance as a means of motivation, as it makes the praise far less sincere and rewards the slackers.

Preparedness Peaks Performance

Rich Von Alvensleben has spoken with numerous groups over the years and points out that one central theme underlying success is preparedness. A sales team must be ready before they are sent out into the world, says Von. It’s imperative that they are given the appropriate tools to do business, and that they are able to use them. However, Rich Von Alvensleben has also noted that experience is the best tool of all. Encouraging new or inexperienced persons to push on will afford them the opportunity to create this instrument of success for themselves.

Push Past Political Preferences

It might sound like a no-brainer, but one major mistake new team leaders make is putting their emphasis on their favorites. Rich Von Alvensleben says that this must be avoided at all costs. Rich Von Alvensleben insists that fairness to all involved is not only the right way to conduct business but also the way cement your status as a reliable and consistent front-runner of your industry.

About Rich Von Alvensleben

Rich Von Alvensleben is an entrepreneur and successful businessman from Rocklin, California (a Sacramento Suburb). He has a diversified background that includes working in Antarctica as an underwater water filtration installation specialist. He has also worked extensively in the construction industry. As well, Rich Von Alvensleben worked for many years as an extremely successful sales representative for a large national safety products supplier. This range of skills carried Von into his most current venture as a CEO of One Up Construction (a California Licensed General Contractor) and Operations Manager of Von Vesting, Inc. (a real estate investment firm specializing in distressed properties).

In his spare time, Rich Von Alvensleben and his wife Tiffani enjoy spending time with their children and participating in outdoor activities like snowmobiling.

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