I started my real estate career during my senior year in high school (79-80) working as a research assitant for a real estate valuation company that was a subsidiary of a mid size Savings & Loan in the suburban Philadelphia market.  My research responsibilities encompassed the simple single or multi family dwelling to a proposed small or large scale residential subdivision.   My research responsibilities further expanded into the commercial and industrial markets as well as the condominium conversion craze that took place in Center City Philadelphia during the early 80’s at projects such as Society Hill Towers, The Dorchester and Hopkinson House. 

During this early time in my career, there was NO internet, NO remote access, limited third party vendors for public record information. Today you can just sit at your desk or a home and get a wealth of information at your fingertips.  My start, it was the basics….reviewing and pouring over property record cards,  bound books, in house computer systems, microfiche at board of assessments, recorder of deeds at various county seats in Pennsylvania and New Jersey as well as City Hall in Philadelphia.  Starting with the first employee to arrive and open door for me in the morning, staying until the end of the day with the last standing employee willing to hang in there with me, countless days where spent in these county seats.

While working as a research assistant to principle appraisers of the firm, the research tasks that I was assigned to complete provided me the fundamentals to analyze property data, property features and recognize trends that were going on in the real estate and banking markets. I would analyze and gather information from various sources and apply these findings to select and identify potential listing and sale comparables.  On a larger scale, I assisted in absorption and residential new construction feasibility studies, market rental studies and “highest and best use” alternatives.    I was on my way. 

During this early time I was attending Montgomery County Community College (Montco), earning an Associate of Science degree in Real Estate.  I was licensed as a real estate sales person in the State of Pennsylvania at the age 18.  Eventually the principle at Quality Appraisal Associates, Valentino H. Pasqueralla Sr. SRPA, who provided me with a strong and invaluable foundation, extended me the opportunity to complete single family residential appraisal assignments on my own, while still assisting in the tasks as a research specialist. 

After graduation from Montco, I moved onto Philadelphia Textile (now Philadelphia University) earning a Bachelor of Science Degree in Finance with a minor in Real Estate.  During my senior year,  I was offered full time employment with Appraisal Service Associates (ASA), a subsidiary of Main Line Federal Savings Bank.  From 1983 thru 1993,  William H. Potterton, Jr. SRPA enabled me to be exposed not only to a variety of real estate valuation alternatives as a staff appraiser and the eventual President of Appraisal Service Associates (1990-1993) and manager of 5 appraisers and staff.  Prior to 1990, my work week was split between the appraisal company and thru another affiliated company, Greene Townes Financial Corporation (GTFC).   GTFC was a licensed Real Estate Broker in the State of Pennsylvania and provided me with exposure to many varied experiences in real estate and banking.   GTFC was a joint venture-equity partner, venture manager, and conduit for securing mortgage financing  numerous high density and prestigious detached single family projects in the Main Line area such as Ravenscliff, Wrenfield and Cornerstone as well as several commercial retail projects in the suburban Philadelphia Marketplace.  GTFC also assisted with site selection for several of the branches in the Main Line Federal Savings Bank Family, which is now part of the Santander Bank network.

During this period, I was licensed as a Real Estate Broker in the State of Pennsylvania at the age of 21 and in 1991 licensed as a Certified General Appraiser in the State of Pennsylvania.

During my 37 years in the real estate business, change is a consistent variable.  When I first entered the real estate business, interest rates for a home mortgage were in the 14% range moving to almost 18% in the early 80’s (see historical home mortgage interest rate trends at mortgage-x.com/trends.htm).  The late 80’s and early 90’s saw a significant downward movement in real estate prices and absorption of new home sales, with no warning a downturn was coming.  With it, banking changed and the government wanted the banks out of the real estate business (appraisal, title and joint ventures) with the institution of FIRREA.   Hence, in 1993 I was provided with the unique opportunity to purchase the appraisal company (ASA) from Main Line Federal, which I did, taking most of the employees, retaining all the clients and hence changing the company name to Alsar Realty Advisors Inc.  The relationship with Main Line Federal continued for many years thru management and name change.

Since 1993, again there has been significant change in the real estate markets.  In the late 90’s things began to move again and the real estate market from 2000 thru 2006 was roaring with relaxed lending and easy money.   Real estate prices in generally all areas were appreciating at annual rates of 5, 10 and 15% per annum.  Residential and commercial developments were happening everywhere. Real Estate appraisals fell to the wayside and ride-bys were the norm.  At closing, some purchasers were walking way with money, as the loan amounts where in excess of the purchase price.  It was the opinion of many financial experts, and the basis for many lending decisions,  that the U.S. home would be the last of the borrowed moneyed items to fall if the real estate market were to change. 

The economy began to slow from 2006 thru early 2008.  During this time gas prices shot up.  Then in September 2008 we have the great mortgage collapse and real estate implosion that followed.  Homes being upside down, worth less then a prior price paid, a purchase price + improvement cost, and the major contributor- homes being worth less then the outstanding 1st  mortgage or the combination of the 1st,  2nd and in some instances 3rd mortgage.  The mortgage companies and banks were handed over the keys, in most instances forced to seek procession of the home given non payment on the note and then the maintenance and responsibility of selling a vast inventory of vacant, unoccupied homes.

In 2005, I was provided an opportunity to consult for a small building company in the local market area.  That relationship exists today. 

Here we are in 2017.  Interest rates remain at historic lows and there continues to be instability in certain real estate markets.   Homeowners are still walking aware from upside down homes, although at a significantly lower rate.  There is many opinions about price levels, increasing.  I have my own.

Included in this site is my business experience.  In my 37 years I’ve been fortunate to have interacted and done business with a bunch of a intelligent professionals.   My experienced is varied.  It would be my privilege to assist you in a real estate related matter.