Industry News

Real estate veteran sees slow times ahead

Real Estate Connect Speaker Profile

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Patrick F. Stone, chairman of the Stone Group, is best known for his past roles as vice chairman of Metrocities Mortgage and CEO of Fidelity National Information Solutions, a former majority-owned subsidiary of Fidelity National Financial. Stone has had a lengthy career in the real estate industry, and brings with it a solid understanding of markets and processes. He will speak at Real Estate Connect in San Francisco, July 23-25, 2008. He answered a set of questions posed by Inman News: What do you see happening in the real estate market in 2008? The real estate market will continue to stagnate through 2008 and 2009. Government programs will help alleviate some of the foreclosure pressures, but stricter underwriting standards have caused affordability to be an issue. First-time home buyers are effectively out of the market for the time being. What advice do you have to help real estate agents and brokers get through this market? Focus on what is selling and where it is ...