5/9/2012Steve Saunders

SRES Inc.

Market maker 1985-1990 at CME 1991 in real estate Investor, developer, owner, managing Broker Now own SRES Inc.

My job at SRES is to take complex ideas and make them simple. I use numbers to help make decisions in real estate.

Receivership, tax appeals, energy audits

Anything change?

High was October 2006 at 168 in Chicago

Now we are at 105.39

How did you survive?

Look toward the future and forget the noise

The Market is always right - always

Why do commodities go up and down?

Real Estate is now a commodity

Work with who has the money

Large group buyers like Waypoint

Receivership and short sales

Look long term on real estate to make it!

Mean reversion

Fanghoo- http://usa.fanghoo.com/

What is parity?

Need photos of all properties

Social Networking

Use tools - Evernote, Dropbox, Salesforce

How do you figure it out?

NicarX - may help

CoreLogic is good too

What is anything worth?

Use Inflation calculators to determine value!

Like the USA 100 years ago

Very aggressive

Finally there is private ownership

Jobs at: http://hongkong.asiaxpat.com/

Photos – the buildings are crazy!

Case-Shiller index

Radar Logic index

Hedging what you own

Buying real estate on paper

Riding the escalator

Read the book

Truly Hedge your risk – Enron, Tellabs,…

Handouts