The Value Consumer

In the past two weeks, I have encountered real value for my money. I define real value as meeting and in some cases, exceeding my expectations for the price I pay.

First was a brief three day stay in the Ritz Carlton Hotel in Lake Las Vegas, Nevada. Lake Las Vegas is one of the major developments in the fastest growing area in the US. It is located about 20 miles from Las Vegas strip, and is an "experience rich" resort in the middle of the desert. The experience is "luxury". Sue Stephenson, the Human Resources Vice President for the Ritz Carlton world wide spoke to our group of Windermere owners about the "knowledge of luxury and the luxury of knowledge". Everyone who works at the Ritz Carlton, no matter what their job or where they are located seems to be "on fire" with exceeding expectations of the customers who stay at their hotels. Stephenson has taken "customer service" to a level that amazes the guests - and I know because I was a guest. Needs are anticipated and fulfilled with great efficiency. The rooms are beautiful, spacious and comfortable. What makes the difference are the people. Sue Stephenson refers to employees as "ladies and gentlemen serving ladies and gentlemen". Passing employees in the hotel hallways and lobbies was wonderful. This may sound corny, but every one of them looked me in the eye, smiled and said hello. If I paused as if to need more than the hello, they asked about my stay and if there was something they could help me with. I was thoroughly impressed, and inspired. These ladies and gentlemen had a purpose above and beyond making a living. They enhanced an experience for the guests, and in so doing, for themselves. The retention at the Ritz Carlton exceeds that of any other hotel chain measured by Fast Company - the customer service reporting firm. They have won the Malcolm Baldridge award, an international award for customer satisfaction for the past two years, competing with other companies like Nordstrom. They are friendly, helpful and humble about it as well.

My second experience in value was a lovely meal of small plates at Six Degrees on Solano at 1403 Solano Avenue in Albany. Saturday evening, a jazz trio with vocalist started playing at about 7:30PM, and we had our choice of an extensive and creative drink menu ( we chose a vodka gimlet and a strawberry crush - vodka, strawberry puree and finished with champagne). The small plates were wonderful - ours, snow peas and shitake mushrooms sauteed with fresh ginger and olive oil, herbed thin potato fries - outstanding - with a russian dressing that had a hint of citrus for dipping the fries, and a lentil soup that was heavenly. The only place where improvement was needed was in the fruit crisp dessert. The fruit was not cooked sufficiently to provide the puree and juice. The service was great, and for a while, you will be able to get in at most times, but once they are reviewed, they will be up there with Fonda for drinks, and Cesar for small plates. That is all the commercials for now. Buy value!

One of the Good Guys

This is a small story about a big guy - a guy I work with, a colleague, a friend, and an inspiration. His name is Arthur White. He is a real estate broker and he is an inspiration to me. The reason is that Arthur really believes that his clients deserve his best efforts.

He responded to a telephone call from a couple who owned a big house about 5 miles from our office. The house was built about 5 years ago and the couple wanted to know what it was worth. Arthur picked up the call and went out to give them an Opinion of Value. He received a call back from them about a week later and he subsequently listed the house for over a million dollars. The house was awkward, but had a wonderful Bay View and was nearly 4 thousand square feet in a nice neighborhood. The couple had moved to Texas, and the house was vacant.

What Arthur later found out were two very important pieces of information: The husband had a terminal disease and the house had received a Notice of Default from the lender. These people were in trouble, deep trouble. We now know that the wife had cashed in her retirement benefits, and this couple hoped to get a few hundred thousand dollars from the sale of this house. It was all they had left. To make a long story short: Arthur White became their advocate, their broker, their friend and a fierce ally of this couple in the sale of this house. He showed courage, determination, and a wonderful set of values I can only hope to match. He makes me proud to be his friend and colleague. No newspaper is interested in this piece of "good news", but I thought you might like to know that there are heroes in the everyday experience of some people.

The dreaded mortgage rate adjustment

This is my call to action, my entreaty, my urging you to do something...now

If you purchased a home in the past year or two with an adjustable rate mortgage, please run, don't walk to your trusted and trustworthy mortgage broker and refinance into a fixed rate loan. If possible, get a 30 year fixed rate loan and never worry about the mortgage mess we are about to enter. Make sure the person you trust is not a mortgage broker who says things like, "don't worry about it, I'll take care of it" or "I am sure that when it adjusts, it will be a small adjustment, and anyway, the value of your house will increase well beyond the adjustment". If you need names of the good ones, the trustworthy ones, the ones who can tell it to you so you understand how it will affect you and who will help you get out of the fix you are in now, please call me - any time of the day or night for some suggestions. 510-409-6977. I don't care who you use to get into a fixed rate loan as long as they are trustworthy! Read the Wharton School of Business article from the link on this blog. Good article on SubPrime lending. That's all for today. Now down off my soapbox and on to easier things, like lunch.