Prudential Realty buys York Simpson Underwood Realty (Raleigh: real estate market, buying)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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I'd say he's found a bargain, but not necessarily b/c real estate has bottomed out. Buffett is diversified enough in his holdings that he can easily do such a deal and then tolerate the risk that comes with a real estate market that doesn't yet seem to know where the bottom is yet.
Did you know this YSU deal was in the works, Vicki?
Actually, I haven't been in the office much in the last few days so I don't know if anyone knew about it or not. I did not. I had a friend that worked there for years but she moved away a while back so I'm out of the loop.
I have nothing against some of these smaller Realty companies closing their doors, since so many of them seem to have disregard for ethics or laws. I'm basing this on some issues that I have run into lately, including some Realtor/Listing Agent that owes the IRS! And didn't bother to tell me or my buyer. I'm thinking this IS a material fact!
However, YSU, is an old Raleigh company so I'm sad to see it go. I almost went to work for them years ago.
So many changes in this area...some good, some not so good.
Actually, I haven't been in the office much in the last few days so I don't know if anyone knew about it or not. I did not. I had a friend that worked there for years but she moved away a while back so I'm out of the loop.
I have nothing against some of these smaller Realty companies closing their doors, since so many of them seem to have disregard for ethics or laws. I'm basing this on some issues that I have run into lately, including some Realtor/Listing Agent that owes the IRS! And didn't bother to tell me or my buyer. I'm thinking this IS a material fact!
However, YSU, is an old Raleigh company so I'm sad to see it go. I almost went to work for them years ago.
So many changes in this area...some good, some not so good.
Vicki
Yep, I would like to see some of the local fellows with deep roots spin a few yarns about YSU.
I figured when Phyllis York Brookshier went to Allen Tate that there was a little rumble in the force...
I think a LOT of the small firms (those that popped up in February/March 2006 right before the law changed to require two years to be a BIC) have fallen away. Not a bad thing.
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