(26 Total References)
GMAC's investment means we and ...
GMAC's investment means we and purchase soma, can take the SOMA Living concept to major metropolitan areas on a national basis, said Karl Sopke, chairman and founder of SOMA Living.
Halliday Named First Inductee; Sopke is Keynoter
...Also featured at the luncheon will be a keynote presentation by Karl W. Sopke, CRB, President, SOMA Living, San Francisco, California.Karl Sopke
is a 38-year veteran in the real estate brokerage and related industries.He joined Pacific Union as President of their Real Estate Group in 1987 and grew the company into the 44th largest real estate company in the nation and #1 in average sales price among the top 350 brokerage firms.
In 1998, Sopke
unveiled SOMA Living
, an innovative high-tech, high-touch real-estate storefront in San Francisco's trendy South of Market (SOMA) neighborhood.Web kiosks offer access to home listings, databases of financing sources, and house-hunting tips.Consumers can settle into cafe-style tables to flip through listings or meet with one of the store's on-site agents in a private conference room.The result is equal parts sleek boutique, reference room, and internet cafe.This is sure to be a dynamic presentation on leadership, innovation and change.
The luncheon will take place on Friday, November 10th, 2000 at 11:30 in the Moscone Convention Center
, San Francisco, California during the annual REALTORS® Conference & Expo.
Foreclosures.com - Foreclosure Forecast E-Zine
With an unprecedented number of homes on the market, and 35-year lows on interest rates, many Bay Area residents who were previously shut out of the housing market have an outstanding opportunity to buy in before its expected recovery during the second half of 2002, according to Karl Sopke, president and chief executive officer of SOMA Living Real Estate.
"The number of transactions has been dropping all year long, by comparison to 2000 levels," said Sopke
Conditions could be slightly worse for the tech-heavy Bay Area, said Sopke
said the effects Sept. 11 will not be fully known until late in November.Seventy-five percent of California Realtors said open-house activity fell during the week of Sept. 11, but 66 percent said traffic was back to normal by the following week, according to a CAR survey."Some buyers have postponed purchases, but only by a week or so," Sopke
said."The tragedy of Sept. 11 has not stopped Bay Area home buyers intent on purchasing."
Regardless, the real estate market was slowing well before Sept. 11, Sopke
said."It's clear we've seen an end to the all-time highs and the unparalleled buying frenzy of the dot.com revolution that brought with it significant IPO dollars, multiple offers and frenzied bidding wars."
Clearly, buyers now have choices, a word not associated with the Bay Area real estate market in the past six years."We are settling into a more normal market, after years of overbidding for most properties, particularly at the higher end," said Sopke
The unsold inventory index in the Bay Area -- a measure of the number of months it would take to sell all of the homes on the market at a given time -- nearly doubled in recent months from the same time last year, from 2.3 months of supply to 4 months of supply, according to statistics from CAR
.Inventory of multimillion dollar homes, meanwhile, quadrupled, from a 1.5-month to 4.5-month supply in August-to-August comparisons.
"In many regions, the upper end has all but ground to a halt, as Bay Area buyers no longer are willing to pay inflated prices, and sellers are finding it necessary to be more realistic about listing prices," said Sopke
SOMA Living: About us: Executive bios
Karl Sopke President & Chief Executive Officer
Karl's strategic vision and team-building skills helped him launch SOMA Living
, now SOMA Real Estate, in 1996.Prior to SOMA Real Estate, Karl served as president of Pacific Union Real Estate Group, where he was responsible for growing the company to the 19th largest real estate company in the nation with the top rank for average sales price among the top 350 brokerage firms.He was also a managing partner of Pacific Union Real Estate Group for the past decade.
Marin IJ - SOMA/Living troubles extend beyond Marin
"I want to recognize the commitment, passion and extremely hard work that everyone associated with SOMA contributed over the last several years," said Karl Sopke, president and founder, in a letter sent to shareholders earlier this week."These are some of the greatest people I have ever had the opportunity to work with." Sopke, who founded SOMA in 1998, is a former president of Pacific Union Real Estate Group.
Company officials, in a brief prepared statement released yesterday, blamed the demise of the firm on "challenging business and economic conditions, including the dot-com implosion and the effects of Sept. 11, both of which had substantial impact on the Bay Area housing market, as well as a negative change in the financial markets for additional funding."
The company introduced a number of new ideas to the Bay Area real estate market.
In addition to catering only to homebuyers and operating real estate "stores" instead of offices, SOMA/Living tried to divide the homebuying process among a series of specialists for each step rather than have the agent be responsible for keeping on top of the financing, escrow and closing.