Comments by Steven Hyman

Appropriations Committee passes AB1991

And what’s wrong with LOCAL REALTORS.  Many of us have lived here and worked here for decades trying to make this a better place for everybody.

There probably isn’t an organization or charity on the Coast that hasn’t benefited a lot from our hard work, support and donations.

I know I support a handful of organizations and events.  And on top of that I’ve been writing for your favorite paper for over 12 years now educating the public on a variety of real estate topics.

I don’t want to see this place bankrupted cause of some weeds or because some obscure group hundreds of miles away doesn’t like what we do.

So if you want to know more of what we do for our community, I’d be glad to educate you over lunch.  Its on me. 

Come on down to the Dark Side.  I think you’ll find we’re pretty nice and caring people who love the Coast.  We just hate the politics.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Francis,

To your first point, I’d say too little too late and its just talk.

And to your second point, you forgot to mention that the Democrats are beholden to the environmental groups.

Local Government Committee passes AB1991—next stop: Appropriations Committee

You also have to tip your hat to the slick lawyering and lobbying of Bill and Hillary’s man.  But would you expect anything less.  He did learn from the master.  HMB is lucky to have such a talented high priced man on our side. 

Its interesting to hear all the concessions being offered now as this bill looks like it will sail through the Assembly.  Too bad these weren’t offered many years ago.  Maybe we wouldn’t be wasting all our time and money on this infill parcel.

Local Government Committee passes AB1991—next stop: Appropriations Committee

I’m sure I know where you like it signed.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Somehow this hasn’t made it to my top 10 stack for night time reading.  If AB 1991 doesn’t pass, maybe we should make some eco-friendly flyers on Chapter 9 that we can put in a newcomer’s welcome basket. 

I still don’t think the HMB cartoon should be included yet.  But if Ken and I keep being such good pen pals this summer, I’ll be glad to give him a framed version for a Christmas present.

Local Government Committee passes AB1991—next stop: Appropriations Committee

I don’t understand why settling is such a bad thing.  Obviously the stone walling litigious approach has been a financial disaster for everybody, except the lawyers.

Anyway, don’t knock it till you’ve tried it.  Maybe we could get something done here for a change.

And I did attend a special meeting with the City prior to the public meeting in January, however, selling City land didn’t come up then.

Local Government Committee passes AB1991—next stop: Appropriations Committee

I’ll be the first to admit that I’m not familiar with how municipal bankruptcies work.  That being said, the City would still have to sell-off many assets to satisfy its obligations.

That would be devastating to the community.

All the options are bad, appealing is worse.  I’m glad our elected officials did the right thing. That took a lot of courage.

Local Government Committee passes AB1991—next stop: Appropriations Committee

I agree that the City probably doesn’t have $41 million, which by the way, would have mushroomed to close to $50 million with several years of interest added.

Surely to satisfy this amount, most of the City’s real estate holdings would have to be liquidated including City Hall, Community Center and even its acres of land by the Coastal Trail.

To me, that’s not a winning hand.  The City had to settle.

Local Government Committee passes AB1991—next stop: Appropriations Committee

What bears repeating is that HMB was in a poor bargaining position.  Its options were either appeal with horrible consequences from a growing debt they couldn’t repay or settle.

They chose the wiser tact by going for a sure thing and an amount significantly below the judgment (56%).  But when you try and settle, you also can’t say we still want to be able to appeal too.

When you look at the results of the settlement, you can see who had the upper hand and the deep pockets to slug it out for many more years. It also shows what a good businessman Mr. Keenan is.

And as to being easy to be pushed around, we are already there.  The days of 10-20 year law suits are over.  The money is gone for that.

The City will have to settle things with people more quickly.  And frankly, there’s nothing wrong with that. Its done in business all the time.  And without the deep pockets of others, what else can you do.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Here’s a first, a complaint about legal bills! I guess it was ok to spend $5 million on Beachwood and who knows how many more millions on Pacific Ridge and N Wavecrest.

Of course, Ken was all in favor of happily spending untold monies on a dubious appeal that would have put this town in much worse shape.

Anyway should we lucky enough to get AB 1991 passed, the money spent on litigation is still a lot less than paying $18 million for that overpriced field of weeds.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Hey whats a few million dollars more among friends.  Just think how much money has been wasted on all this lawyering.

Maybe we should put a sign in front of Beachwood with one of those markings that measures money spent with a catchy headline like What’s Beachwood cost HMB?

And if we can do it in an artistic eco-friendly manner, it may cast a soft shadow over the weeds turning them wetlands.  This is something that has been lost on all the blind speeders.

With the way seems to work out, maybe we can have the worst of both worlds.  AB 1991 passes and then HMB spends millions on fighting the various appeals. The clock runs out in 2011 so HMB gets to hand over an $18 million check.

It would interesting if the City ever did a P&L;on what Beachwood has cost so far.  I’d put that number now at around $25 million and rising.

Local Government Committee passes AB1991—next stop: Appropriations Committee

I’ll try and slow down next time so I can better take in that special Kodak moment.  The bright red color on the Stop the Traffic Light sign must be blurring my vision to where I can’t see wetlands.  It makes me just see weeds.

Perhaps you could help us all see what you think we’re missing by changing the color on the sign to traffic light red.  Then I’ll be able to see it your way.  Hopefully that change in paint color won’t require too many permits or too much time.

Local Government Committee passes AB1991—next stop: Appropriations Committee

If my carrying about the town I’ve lived in for over 25 years makes me selfish, so be it.

I haven’t been pleased with the constant stalling of projects for too long and the wasteful spending of millions of dollars of money.

We all knew this day would come.  We just didn’t know the lawsuit that do the City in.

Anyway, 1991 only applies to HMB.  I do agree that it could be the future blueprint, if altered, to where it could work elsewhere.  But I’m less concerned with that maybe then finding $18 million.

And again, this is what happens when you put your fate in other peoples’ hands.  So hopefully, this will be the beginning on a new area in HMB.  If for no other reason, the City will be too crippled financially to wage another battle.

I would say that when all is said and done, the winners will be the lucky lawyers who have been feeding at the HMB gravy train for years.  But isn’t that always the case.

Local Government Committee passes AB1991—next stop: Appropriations Committee

From a resident of HMB, I’m more concerned about my town.  This bill has been crafted to only apply to HMB.

Could it be modified or a future road map for other people who’s rights have been abused?  Sure.

And that’s the price for picking silly fights.  Maybe HMB’s legacy will be a property right’s victory.

This is what happens when you put you your fate in other hands.  Now we ae at the mercy of politicians.  We’ll see which side does the best arm twisting.

This, sad to say, is the battle that never should have been waged.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Ken,

We’ve covered this topic many times before and see things quite differently.  I think the City Council did the right thing by settling and trying to put an end to this long running budget busting nightmare.

Your option was to appeal endlessly and if unsuccessful, file bankruptcy leaving the City with a potential $50 million debt.

Its precisely these attitudes that got us into this mess.  And this cycle of endless spending has to stop.  Too many millions of dollars have been wasted over the past decade on lawyers rather than things like the Boys & Girls Club.

Like you, I was surprised at the creative solution of AB 1991.  Although if this idea can save us from writing an $18 million check, I’m all for it. 

There’s nothing special about this infill parcel that’s worth the money or effort.  It looks out of place now with its field of weeds between 2 communities and HMB’s landmark “Stop the Light” sign.

Its amazing to think little HMB has Bill Clinton’s lawyer on its side.  He’s the ultimate spin meister.  Don’t forget he helped redefine the definition of sex and turned lies into “mis-speak”.  And now he only only has to convince state legislators.  In comparison to what’s he’s had to deal with before, this should be a walk in the park.

The real problem with your strategy is that it doesn’t work.  When you litigate, you put your faith in someone else’s hand.  If you settle, you have more control.

There’s also no reason to have elevated this infill lot to such historic proportions.  But it may go down as a landmark case for property owners rights. And that’s a good thing and long overdue.

This is something that should have settled long ago.  And we would have saved millions of dollars too.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Its going to be fascinating to see how Beachwood plays out.  This could end up being a significant turning point in which some of the laws are scaled back in terms of reality.

There’s nothing great about saving Beachwood that warrants all this money and time.  But now that Walker’s verdict is upheld and AB 1991 is moving its way through the Capitol, things might get a little more rationale.

I really sense a change in the public’s attitude and perhaps we will see more compromise in the future so that follies like this aren’t repeated. What a staggering waste of money.

And Bill Clinton’s lawyer will be interesting to watch as he works his magic on our state legislature.  After all, these are the experts in parsing words.

Local Government Committee passes AB1991—next stop: Appropriations Committee

There are many questions that need to be asked before an accurate value can be put on the value of Beachwood.

Whoever buys this parcel will make their own assessments as to how many homes will be permitted, that is assuming it is sold to another person.  I would assume that someone would assume the worst (like 19 homes) and hope they can squeeze out more.  But that’s a crap shoot.

Of course, the real question is who in their right mind would want to buy this troublesome property with its litigious history.  Think about the years of grief and expense the new owner will have to endure.  Especially with so many other projects to choose from throughout the State with less issues.

So this property’s history will significantly lessen its value.  And aren’t we lucky cause this infill parcel with sensitive wetlands probably cost HMB over $25 million and we can sell it for a small fraction of that.  Such a deal!

Local Government Committee passes AB1991—next stop: Appropriations Committee

I have been telling people and writing in the Review that I think this has been a buyers’ market since late 2005 when things started to cool.

The statistics bear that out.  On the Coast, you have inventory at near record levels, sales volume has been declining since 2004 (with 2008 turning out to be worse than 2007), sellers are realistic, selling time is increasing and mortgage rates are declining.  There are even a growing number of distressed sales, mostly at the low end, cause of lax lending with 0 down payments.

But people buy a home cause they need a home.  I think anyone who tries to do it for a flip is asking for trouble.

My crystal ball is pretty good for 6 months out.  After that, its a crap shoot.

Local Government Committee passes AB1991—next stop: Appropriations Committee

I’m always open to learning new things and understanding different view points.  I’ll probably take you up on this.  I may just have to heavy up on my blood pressure med so I keep my cool.

And I’m glad to hear that Jonathan’s experience in getting a building permit went smoothly.  You are a lucky man.

I have heard and seen too many instances that were quite different.  And then you add to that some of the cases I have heard from other Realtors, gives me the views I have.

It now takes almost 1 year to get a permit from the county and the fees have increased significantly.  And on top of that, they are now adding Green ordinances that will add to the construction costs.

I know you’ll be pleased to know, that these increased times, fees and building costs are making building the “dream Home” more of a nightmare.  And these delays also makes builders less likely to take a gamble on such a drawn out process.

And BTW, its insulting to refer to people who buy and sell real estate on the Coast as MARKS.  Several of the posters who share your views here are my clients/friends and I can’t imagine they would take kindly to your poor choice of words.

Local Government Committee passes AB1991—next stop: Appropriations Committee

Everybody’s entitled to their opinion but you don’t have a clue as to what I know.

Suffice it to say, having lived here for 25 years and being involved in real estate for over 20 years, I have seen how this place has developed. Observing the progression (or stone walling) of many projects gives me the views I have.

Land owners have been relegated to second class citizens here.  Hopefully, this is the beginning of a long overdue change.

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