DAN SLAGELL HEADS UP REMAX CHOICE ... BILL BRADY IS FOCUSED ON GOV. IN 2010
Dan Slagell of Remax Choice, danslagell@realtorschoice.net 
This house is on the market currently around 440k ... sweet family home
what mortgage crisis
By Anthony Saluto
Industry experts are monitoring 1 million homes headed for foreclosure. A great deal of which are tied into securities and are bought and sold by investors.
Dan Slagell, of Remax Choice has been realigning his duties. Dan will be assuming the running of the real-estate company as Bill Brady is solidly focused on running for governor in 2010. Dan has been a spark on the real-estate scene since leaving his banking career many years ago. http://www.realtorschoice.net/
Although the real estate game has become increasingly advanced, Dan is still a traditional business man working with what he knows well, simplicity.
By Anthony Saluto
Industry experts are monitoring 1 million homes headed for foreclosure. A great deal of which are tied into securities and are bought and sold by investors.
Dan Slagell, of Remax Choice has been realigning his duties. Dan will be assuming the running of the real-estate company as Bill Brady is solidly focused on running for governor in 2010. Dan has been a spark on the real-estate scene since leaving his banking career many years ago. http://www.realtorschoice.net/
Although the real estate game has become increasingly advanced, Dan is still a traditional business man working with what he knows well, simplicity.
For road trips Dan likes to check out the CDs at Circuit City and stock up on some new tunes for the drive. “I bought Bruce Springsteen’s new one, I bought Dave Matthews Band, and I bought Paul McCartney,” says Dan, and adding his selections are a good sign of his age.
When traveling, Dan often checks weather websites for destination conditions before packing. However, he is not dependant on the web for most resources. “I don’t use the internet a whole lot,” says Dan. Dan still reads the paper the old fashioned way foremost to internet options. He mostly uses the internet for directional reasons such as Mapquest.com.
Using Google some and with a few transactions with Amazon and eBay, Dan mostly uses the computer for real-estate related web sites and business matters such as e-mailing and keeping track of investments on various financial sites.
Dan graduated from the University of Illinois with a degree in Business Economics Agricultural.
Tony: Dan, what do you think of the Marriott project in uptown Normal?
Dan: What I know, or think I understand is that it is private money. Private money has a way of making things work better in general, historically, than public money. I think it’s going to be a good thing.
Tony: How is the so-called mortgage crisis affecting the average resident in the twin cities market with all this news on Countrywide and the likes?
Dan: It has very little effect so far. Countrywide has been in the national spotlight because they’re huge. They have scaled back on making marginal loans because of too many defaults. . If someone defaults here in Bloomington, and we’re getting people because of the overall scheme of things a bit more, not catastrophic or anything, but we’re getting more people to say I can’t make my mortgage, or I want to sell my house but I’m upside down…upside down for any kind of correction. And our correction has been very minimal…less than 10% marketwise from last year. Last year we had an increase, this year it will go down.
Tony: So we had little effect on our mortgages here?
Dan: If anyone has a problem we say call your lender and talk to them and see if you can get any kind of concession, being even to a point where we had a discussion or 2 about a short sale. Which just means you’re my banker, I’m your customer, I say I have a $212,000 mortgage and my place is worth 200 and by the time I get done selling, I’m going to have 185 for you. And the bank would say we would clear your mortgage if you get the 185 even though you owe me 212. That’s what’s happening in Florida and Las Vegas and Arizona.
Tony: So the banks are entering a lets make a deal phase?
Dan: If your bank is no longer in existence, there is no one to deal with. That is the problem. The federal government can’t solve the immediate problem. People get their mortgages from all over, you could have a mortgage that was done and then sold to someone else.
Tony: What percentages of mortgages are sold online?
Dan: Hopefully, none. You can get mortgages from most any place in the past. I would say that your standard lending originators are hurting because there isn’t as much volume. So a lot of people are out looking for new jobs. Some people are brokering mortgages out of their house, the problem is they get to the closing and there’s no money; that is not a good thing. So I try to encourage people not to use that kind of business, because that kind of operation is like a shadow in my opinion.
Tony: So using your local banker in face to face meetings is the best way to shop for a mortgage in these conditions?
Dan: Everything’s negotiable. If online can give you a better rate there is usually a reason for that. We can negotiate with the local guys and local lenders and get you just about as good a rate and we know there’s going to be money at the closing. Because you do want to close on this or we wouldn’t be sitting here.
Tony: Do you see that changing?
Dan: I would say that it has an effect indirectly on people in Bloomington-Normal because we are such an economic universe that we live in. The only direct impact that we have…I read somewhere that over 200 financial institutions have closed, shut down. Some of those weren’t the huge names, but recognizable names.
Tony: What kinds of problems are happening with new construction?
Dan: They are priced too high. And supply and demand as you well know is a factor in pricing. We have just less the 50 home builders and most of them are in trouble. Some of them are in very deep problems, but not all of them. Nationally there is a crisis problem; locally it is not a crisis. New construction is down 37% in the last 2 years.
Tony: Would you include subcontractors in the plight locally?
Dan: If builders are down, then subcontractors are down as well. Most subcontractors can go out and do some remodeling work. They can adapt by becoming a little more diverse.
Tony: In quality new construction, what are homes costing on a price per square foot basis?
Dan: It is so diverse with finishing and lot costs it is really hard to peg that number. It is a moving target, but it is coming down. $150 and even less would be a figure. If you have a ton of money and you want to hire all the best guys in town the price could go to $185 per square foot. Right now pre-owned homes have an advantage because they are already landscaped, have drapes, etc. Existing homes are selling better than new construction.
Tony: where is some of the most expensive land in the twin cities?
Dan: Veterans Parkway is what we call the ‘lake front’. Basically you’re talking $20 - $25 per square foot land on Veterans. There was a big push for an auto mall. They needed 6 out of the 8 or 9 to move into it, but they couldn’t get 6th one to go in on the deal. If that would have happened there would have been a lot more Veterans property on the market.
After graduating from U of I, Dan went into management for Stokley-Van Camp, which along with beans, processed many other vegetables, but mostly sweet corn, peas, lima beans, and kidney beans. With 3 years under his belt at Stokley-Van Camp, he joined Busey Bank in Urbana, IL, specializing in asset management within the trust department primarily focusing on farming. Dan then bought and flipped a bank in Heyworth within a two year period. At the time, he was on the same golf team with Dave Weaver in an event that could be a career-changing experience. “I got to know Dave and he said what are you doing and I said nothing and he said why don’t you come work for me, because I had a brokers license from the banking days,” Dan explains. From there, Dan was running things within 3 years. Dan can be reached via danslagell@realtorschoice.net
editing, jeni nussbaum
When traveling, Dan often checks weather websites for destination conditions before packing. However, he is not dependant on the web for most resources. “I don’t use the internet a whole lot,” says Dan. Dan still reads the paper the old fashioned way foremost to internet options. He mostly uses the internet for directional reasons such as Mapquest.com.
Using Google some and with a few transactions with Amazon and eBay, Dan mostly uses the computer for real-estate related web sites and business matters such as e-mailing and keeping track of investments on various financial sites.
Dan graduated from the University of Illinois with a degree in Business Economics Agricultural.
Tony: Dan, what do you think of the Marriott project in uptown Normal?
Dan: What I know, or think I understand is that it is private money. Private money has a way of making things work better in general, historically, than public money. I think it’s going to be a good thing.
Tony: How is the so-called mortgage crisis affecting the average resident in the twin cities market with all this news on Countrywide and the likes?
Dan: It has very little effect so far. Countrywide has been in the national spotlight because they’re huge. They have scaled back on making marginal loans because of too many defaults. . If someone defaults here in Bloomington, and we’re getting people because of the overall scheme of things a bit more, not catastrophic or anything, but we’re getting more people to say I can’t make my mortgage, or I want to sell my house but I’m upside down…upside down for any kind of correction. And our correction has been very minimal…less than 10% marketwise from last year. Last year we had an increase, this year it will go down.
Tony: So we had little effect on our mortgages here?
Dan: If anyone has a problem we say call your lender and talk to them and see if you can get any kind of concession, being even to a point where we had a discussion or 2 about a short sale. Which just means you’re my banker, I’m your customer, I say I have a $212,000 mortgage and my place is worth 200 and by the time I get done selling, I’m going to have 185 for you. And the bank would say we would clear your mortgage if you get the 185 even though you owe me 212. That’s what’s happening in Florida and Las Vegas and Arizona.
Tony: So the banks are entering a lets make a deal phase?
Dan: If your bank is no longer in existence, there is no one to deal with. That is the problem. The federal government can’t solve the immediate problem. People get their mortgages from all over, you could have a mortgage that was done and then sold to someone else.
Tony: What percentages of mortgages are sold online?
Dan: Hopefully, none. You can get mortgages from most any place in the past. I would say that your standard lending originators are hurting because there isn’t as much volume. So a lot of people are out looking for new jobs. Some people are brokering mortgages out of their house, the problem is they get to the closing and there’s no money; that is not a good thing. So I try to encourage people not to use that kind of business, because that kind of operation is like a shadow in my opinion.
Tony: So using your local banker in face to face meetings is the best way to shop for a mortgage in these conditions?
Dan: Everything’s negotiable. If online can give you a better rate there is usually a reason for that. We can negotiate with the local guys and local lenders and get you just about as good a rate and we know there’s going to be money at the closing. Because you do want to close on this or we wouldn’t be sitting here.
Tony: Do you see that changing?
Dan: I would say that it has an effect indirectly on people in Bloomington-Normal because we are such an economic universe that we live in. The only direct impact that we have…I read somewhere that over 200 financial institutions have closed, shut down. Some of those weren’t the huge names, but recognizable names.
Tony: What kinds of problems are happening with new construction?
Dan: They are priced too high. And supply and demand as you well know is a factor in pricing. We have just less the 50 home builders and most of them are in trouble. Some of them are in very deep problems, but not all of them. Nationally there is a crisis problem; locally it is not a crisis. New construction is down 37% in the last 2 years.
Tony: Would you include subcontractors in the plight locally?
Dan: If builders are down, then subcontractors are down as well. Most subcontractors can go out and do some remodeling work. They can adapt by becoming a little more diverse.
Tony: In quality new construction, what are homes costing on a price per square foot basis?
Dan: It is so diverse with finishing and lot costs it is really hard to peg that number. It is a moving target, but it is coming down. $150 and even less would be a figure. If you have a ton of money and you want to hire all the best guys in town the price could go to $185 per square foot. Right now pre-owned homes have an advantage because they are already landscaped, have drapes, etc. Existing homes are selling better than new construction.
Tony: where is some of the most expensive land in the twin cities?
Dan: Veterans Parkway is what we call the ‘lake front’. Basically you’re talking $20 - $25 per square foot land on Veterans. There was a big push for an auto mall. They needed 6 out of the 8 or 9 to move into it, but they couldn’t get 6th one to go in on the deal. If that would have happened there would have been a lot more Veterans property on the market.
After graduating from U of I, Dan went into management for Stokley-Van Camp, which along with beans, processed many other vegetables, but mostly sweet corn, peas, lima beans, and kidney beans. With 3 years under his belt at Stokley-Van Camp, he joined Busey Bank in Urbana, IL, specializing in asset management within the trust department primarily focusing on farming. Dan then bought and flipped a bank in Heyworth within a two year period. At the time, he was on the same golf team with Dave Weaver in an event that could be a career-changing experience. “I got to know Dave and he said what are you doing and I said nothing and he said why don’t you come work for me, because I had a brokers license from the banking days,” Dan explains. From there, Dan was running things within 3 years. Dan can be reached via danslagell@realtorschoice.net
editing, jeni nussbaum
photography copyrighted, anthony saluto , usage and or prints, gosaluto@bellsouth.net
news tips, downtown trivia, gosaluto@bellsoth.net
advertising information: gosaluto@bellsouth.net
Copyright 2007 Anthony Saluto Productions P.O. Box 3425 Bloomington il. 61702
Subscribe to this blog at the bottom.
news tips, downtown trivia, gosaluto@bellsoth.net
advertising information: gosaluto@bellsouth.net
Copyright 2007 Anthony Saluto Productions P.O. Box 3425 Bloomington il. 61702
Subscribe to this blog at the bottom.
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