Factoids learned at Monday's practice about the newest Laker (via Andy Kamenetzky of ESPN):
* Smith is enjoying his 16th season in the NBA, long enough to have been included in a 1998 trade with Brian Shaw, now his assistant coach. (In a more recent development, he was also included in a three-way 2008 trade involving Shannon Brown.)
* He's a well traveled athlete. It's been 12 teams for Smith, six alone since 2006. He even managed to get traded to, from, and be reacquired by the Cleveland Cavaliers between February 2008 and March 2009. But incredibly, save half a season in Philly with Theo Ratliff, Smith has somehow managed to never have played with any of his current teammates. This feels mathematically impossible, between his tenure and the amount of times Ratliff, Steve Blake and Matt Barnes have also changed squads. Apparently not.
* A career as an NBA vagabond has made the big man a renter just like the rest of us. Save a place in Arizona, he has no permanent residence. Sensible man, that Joe Smith.
Because work has uprooted Smith so many times, he's a pro at the art of moving (view him talk about the art of the move here)The art of "making small spaces bigger than they appear," as he phrased it. However, constant relocation hasn't turned him into a bitter, bossy crab. He brought 12 suitcases (non-matching) with him for the road trip and eventual arrival in L.A., which turned problematic in Toronto where players have to lug their own bags. Um, hello! Wasn't he aware of Derrick Caracter and Devin Ebanks, who are on the team in large part to schlep his stuff around?"I know, but I'm new, so I didn't want to put them to work," smiled Smith.
* Smith was a huge Lakers fan growing up, and Magic Johnson was his "idol." Thus, even as a bona fide journeyman, landing here doesn't feel like just place to drop his luggage. "This is a little more special than all the other stops I've been," confirmed Smith. "I'm not saying those stops weren't special. This has just a little more edge to it."
You can follow Smith on twitter at @JoeBeast95. And prepare to get in line, because the dude's tweeps have multiplied like rabbits the second he was traded to the Lakers. 3,000 followers and counting, he noted proudly.
Wednesday, December 22, 2010
Thursday, September 30, 2010
The Dingman Group: The OC Now
Chris Dingman, a Newport Beach resident, was featured on CNBC Thursday morning.
CNBC aired a segment on Dingman’s business, The Dingman Group, which assists athletes who relocate.
Carolina Panthers wide receiver Steve Smith is in the segment as he explains how Dingman helped his mother find a new home. Dingman played football with Smith at Santa Monica College, 1998 and 1999.
Dingman also played with Chad Johnson, now Ochocinco, who is also a client.
Darren Rovell reported on Dingman, saying his business does well because of the consistent moves among athletes.
Dingman was featured in a profile in The Daily Pilot last year.
Wednesday, September 8, 2010
How Do Pro Athletes Handle Their Real Estate Needs?
How Do Pro Athletes Handle Their Real Estate Needs?
Did you ever wonder who handles real estate needs for a professional athlete when they get cut, traded or demoted? Sometimes they seek professional help and sometimes — in the case of Arizona Diamondbacks utilityman Ryan Roberts (pictured) — they take matters in their own hands and choose to live in the clubhouse. Seriously.
Did you ever wonder who handles real estate needs for a professional athlete when they get cut, traded or demoted? Sometimes they seek professional help and sometimes — in the case of Arizona Diamondbacks utilityman Ryan Roberts (pictured) — they take matters in their own hands and choose to live in the clubhouse. Seriously.
“You just couldn’t let anybody see you,” Roberts said. “After the game, I’d sit on the couch in my uni (uniform) until Bugsy (Reno manager Brett Butler) would leave, so everybody would think I was just hanging out. Then I’d shower up and hang out with the cleaning crew.”
Maybe Ryan was just trying to save a buck or two, but there really are people who handle real estate for professional athletes. One guy is Chris Dingman (The Dingman Group), whose business is a “…boutique powerhouse that buys, sells and leases real estate for professional athletes and coaches nationwide.”
Here’s a Q&A with Dingman about his niche real estate business:
How did you get into this business?
Since childhood, sports have defined my path in life. Along my path, I developed personal relationships with pro athletes and coaches. The nomadic lifestyle they live can only be rivaled by the military. I recognized a void and major lack of resources for athletes, coaches and families when faced with a move and created my company. Our mission is to ensure they maintain balance in their daily lives during the relocation process.
Who are some of some of the athletes that you handle?
Our client pool is every professional athlete and coach across every major professional sport (NFL, MLB, NBA, NHL, and MLS). A select few clients of ours are NFL Pro Bowler Steve Smith of the Carolina Panthers, MLB All Star Bobby Abreu of the LA Angels, NHL All Star Chris Pronger of the Philadelphia Flyers and dozens of other athletes and coaches whose relocations have all been equally important.
When you hear of an athlete being traded, what’s the first thing you do? Do they call you or do you call their agents/lawyers?
Once word is received of their trade, they personally call us or their advisers call for education, support and next-step information. A trade can create all or one of the following needs: A home sale, house hold goods shipment, vehicle transport and home purchase or lease. Each athlete’s circumstances are unique.
How do you choose the neighborhoods where you search for homes for athletes?
Our nationwide network of pro sports realtors have been referred to us by athletes and coaches who’ve had a positive experience utilizing their expertise during a real estate transaction (i.e. home purchase or sale). This means, they have first-hand knowledge of the neighborhoods or areas where athletes are living or trending to live. Websites such as Zillow help our PSR’s and clients understand the real estate climate in every city throughout the nation.
If an athlete is traded to another team and he loses on his home sale, is he compensated for the loss?
In the NFL they can be. It would have to be discussed and agreed upon by player/agent and team at the time of contract. In baseball, the collective bargaining agreement states a team must sub-lease or take over the remaining terms of a lease if a player is traded or waived. A very specific process must be followed in order to get the team to do this. It’s real tricky sometimes.
The safe answer to the question is probably “it can be…if negotiated up front at contract.”
Once you handle a transaction for an athlete, do you usually handle repeat situations for that athlete?
100% of pro athletes within every major sport will need real estate and relocation services at one point or another during their career. Having a company that streamlines the process for athletes and their advisers is a fairly new niche. A lot of education, relationship-building and trust need to take place. In most every case, athletes use us multiple times per year or during their career. Whether it’s buying a home or packing up a house full of goods we pride ourselves on honest, long-lasting client relationships.
What skills and qualities would you say you need to do this type of job?
Pro athletes and their advisers communicate in very non-traditional ways. The sports world is a very closed-off-to-the-outside-world kind of place. It takes honesty, wit, fortitude, perseverance, and marketing savvy to break into this space and have a big impact. If you don’t have this stuff it’s going to be tough.
Is it glamorous, or not so much?
At first I wasn’t so sure my work would be best described by the word glamorous. So, I looked it up. The definition is: full of excitement, adventure, and unusual activity. It’s DEFINITELY glamorous!
Thursday, August 12, 2010
The Dingman Group Website Update is LIVE!
Website update is LIVE! Please let us know your thoughts. What's new?: 1. Get Started and Locker Room sections. 2. New client pictures and testimonials. 3. Forms and pay section for our clients. -Team DG
www.dingmangroup.com
Thursday, May 27, 2010
Professional Athletes and Buying a Home
By Nolan Thomas
Professional athletes, when it comes to owning a home, have always been in a temporary situation. There is always the chance that they will be relocated to another city through free agency or traded on a moment’s notice.
But these days, because of the recession and high rates of unemployment, home values have declined, moving your family into a new home, and selling your current home has become that much more difficult.
The economic conditions affect athletes just like they affect anyone else when you have property that you are trying to sell. Because of the current conditions and the difficulty of selling a home, many professional athletes have changed their feelings when it comes to home buying.
Most players now days have changed from buying to renting a home or condo in the city in which they play. A lot of players have learned their lesson, as they bought a home, and then they were traded or signed with another team as a free agent and they could not sell their home without losing a lot of money in the process, or ended up paying two or more mortgages. So they still own the home even though they are not living there.
It is not a good idea to buy because they can never predict how long they are going to be playing for a particular team and could be stuck with a piece of property that they never spend time in.
The best part is that many athletes who formally bought their homes and still own them because they cannot sell them at a fair price have started a word-of-mouth network and they will pass along news of possible rentals to incoming players. It adds a sense of confidence to rent to someone who is also a professional athlete and a smart business move.
The last thing a professional athlete wants to worry about is mortgages and loans and cutting the grass. Renting a home until their career is over and they can live somewhere without the worry of having to pack up and move at a moments notice is just the smart thing to do.
Pro Athlete Overpays by a Million Dollars Plus in AZ
As written by "The Sheriff":
My office is located in South Scottsdale and most of my work concentration is on upper bracket properties in Scottsdale and ParadiseValley (typically for financial institutions that work indy of any HVCC regs as they don't sell their loans on the secondary market). While completing research on a property in the Cactus Corridor, a $3.5M dollar sale jumped out at me as the property recently closed utilizing bank financing. When reviewing the transaction, it was apparent to me that a local athlete bought the property (maybe the common person wouldn't notice the buyer's name, but I'm a sports junkie).
The sale is relevant to the appraisal I'm completing as the property is approximately six or so houses away on the subject's street in the same non-HOA community and is very similar in overall quality (Excellent Quality, with a range of Class IV or Class V as identified by the Exceptional Homes Guide published by Marshall & Swift for high value residences). Views are similar (non-view lots of approximately 1.1 acres). The $3.5M property is approximately five hundred sq ft larger than the subject when considering total GLA (although it should be noted the house I'm appraising is 6,060 sq ft on the first level and has an additional 1,560 sq ft basement).
When looking at sales in the Cactus Corridor to figure out how the property could sell for such an amount, there were NO sales in the last 12 months within half a million of the sales price regardless of whether the property was located in an HOA community or not (you might say I've done my fair share of upper bracket properties in this area and have a good pulse on the market). More recently, an 11,000+ property sold for $2,890,000 cash in February very near both the subject property and this reported sale.
When speaking with the agent about the $3.5M sale (it was a dual agent transaction needless to say that had a total of 4 ADOM and 0 CDOM with no prior listing history), he stated that both appraisers went to Silverleaf in DC Ranch to get comparable sales to make the sales price work (the agent claimed he did not see the appraisal reports, however, he did volunteer this information when I asked how they could achieve such a sales price in the area considering recent sales over the previous two years). Anyone with the least bit of geo-competency in Scottsdale knows upper bracket properties in the Cactus Corridor and Silverleaf are not COMPARABLE areas.
Yet, these are not junior appraisers doing these types of assignments. At what point do we police our own appraisers after the fact? Properties of this magnitude are not simple (I've realized this during my time in the industry). Anyone who works the upper bracket market as extensively as me realizes agents play a significant role when it comes to a sale of this magnitude (heck, the commission alone for the agent most likely exceeded $200,000 once the property closed escrow due to his dual representation). If an appraiser came $1M low on this sale for instance by staying in the local market area, the appraisal report would have to be bullet proof prior to being submitted to the financial institution (because if I'm the agent with $200,000 riding on a deal closing, I'm steering the appraiser with any sale that would make this look clean on paper - even if it meant leaving the market area).
This property has two independent appraisals, yet, both appraisers would have to leave the subject's market area to allow such a sale to gain bank financing (let me restate that this was not a cash deal). The county has the property assessed at $2.156M for 2010. The most recent owners purchased the property for $2,080,000 in October of 2003. We are very close to 2003 prices in many areas...
So how does this sale occur at $3.5M? The buyer entrusts our profession and knowledge to get this right (and I'm sure the appraisal fees were pretty decent for a property of this magnitude). Yet, deep down, I realize the irrationalness of this transaction. Is it my responsibility to my profession to write to the financial institution who currently owns this loan? Is it my responsibility to report this transaction to the appraisal board? What about offering a service to the owner himself (because he obviously is oblivious to all of this)?
I was recently hired by a banker from California to complete an appraisal for a local athlete who was purchasing a property in a cash deal. The Cali banker got word of my work through another banker with Sun Trust Bank in Tampa who once played in the NFL for a couple of seasons. The current banker befriended me when we played for the same university in college and we both were consistently receiving accolades for our grades. When it was all said and done, the athlete ended up offering $233,000 less than the current listing price (utilizing the appraisal)... and $133,000 less than they originally anticipated offering on the property because the appraisal was bullet proof (even though the selling agent fed everyone sales higher than the original listing price). The sale is going through with the new offer because the selling agent could not rebut the data in the report.
How hard would it have been for just one of the two appraisers to do the same to protect the bank and the buyer in this transaction? This is really a sad story of epic failure on our industry. These appraisers were definitely seasoned individuals in the industry. Things will never change...
Original Article
My office is located in South Scottsdale and most of my work concentration is on upper bracket properties in Scottsdale and ParadiseValley (typically for financial institutions that work indy of any HVCC regs as they don't sell their loans on the secondary market). While completing research on a property in the Cactus Corridor, a $3.5M dollar sale jumped out at me as the property recently closed utilizing bank financing. When reviewing the transaction, it was apparent to me that a local athlete bought the property (maybe the common person wouldn't notice the buyer's name, but I'm a sports junkie).
The sale is relevant to the appraisal I'm completing as the property is approximately six or so houses away on the subject's street in the same non-HOA community and is very similar in overall quality (Excellent Quality, with a range of Class IV or Class V as identified by the Exceptional Homes Guide published by Marshall & Swift for high value residences). Views are similar (non-view lots of approximately 1.1 acres). The $3.5M property is approximately five hundred sq ft larger than the subject when considering total GLA (although it should be noted the house I'm appraising is 6,060 sq ft on the first level and has an additional 1,560 sq ft basement).
When looking at sales in the Cactus Corridor to figure out how the property could sell for such an amount, there were NO sales in the last 12 months within half a million of the sales price regardless of whether the property was located in an HOA community or not (you might say I've done my fair share of upper bracket properties in this area and have a good pulse on the market). More recently, an 11,000+ property sold for $2,890,000 cash in February very near both the subject property and this reported sale.
When speaking with the agent about the $3.5M sale (it was a dual agent transaction needless to say that had a total of 4 ADOM and 0 CDOM with no prior listing history), he stated that both appraisers went to Silverleaf in DC Ranch to get comparable sales to make the sales price work (the agent claimed he did not see the appraisal reports, however, he did volunteer this information when I asked how they could achieve such a sales price in the area considering recent sales over the previous two years). Anyone with the least bit of geo-competency in Scottsdale knows upper bracket properties in the Cactus Corridor and Silverleaf are not COMPARABLE areas.
Yet, these are not junior appraisers doing these types of assignments. At what point do we police our own appraisers after the fact? Properties of this magnitude are not simple (I've realized this during my time in the industry). Anyone who works the upper bracket market as extensively as me realizes agents play a significant role when it comes to a sale of this magnitude (heck, the commission alone for the agent most likely exceeded $200,000 once the property closed escrow due to his dual representation). If an appraiser came $1M low on this sale for instance by staying in the local market area, the appraisal report would have to be bullet proof prior to being submitted to the financial institution (because if I'm the agent with $200,000 riding on a deal closing, I'm steering the appraiser with any sale that would make this look clean on paper - even if it meant leaving the market area).
This property has two independent appraisals, yet, both appraisers would have to leave the subject's market area to allow such a sale to gain bank financing (let me restate that this was not a cash deal). The county has the property assessed at $2.156M for 2010. The most recent owners purchased the property for $2,080,000 in October of 2003. We are very close to 2003 prices in many areas...
So how does this sale occur at $3.5M? The buyer entrusts our profession and knowledge to get this right (and I'm sure the appraisal fees were pretty decent for a property of this magnitude). Yet, deep down, I realize the irrationalness of this transaction. Is it my responsibility to my profession to write to the financial institution who currently owns this loan? Is it my responsibility to report this transaction to the appraisal board? What about offering a service to the owner himself (because he obviously is oblivious to all of this)?
I was recently hired by a banker from California to complete an appraisal for a local athlete who was purchasing a property in a cash deal. The Cali banker got word of my work through another banker with Sun Trust Bank in Tampa who once played in the NFL for a couple of seasons. The current banker befriended me when we played for the same university in college and we both were consistently receiving accolades for our grades. When it was all said and done, the athlete ended up offering $233,000 less than the current listing price (utilizing the appraisal)... and $133,000 less than they originally anticipated offering on the property because the appraisal was bullet proof (even though the selling agent fed everyone sales higher than the original listing price). The sale is going through with the new offer because the selling agent could not rebut the data in the report.
How hard would it have been for just one of the two appraisers to do the same to protect the bank and the buyer in this transaction? This is really a sad story of epic failure on our industry. These appraisers were definitely seasoned individuals in the industry. Things will never change...
Original Article
Thursday, May 6, 2010
Monday, May 3, 2010
Wednesday, April 21, 2010
Monday, April 19, 2010
Dingman Group eBrochure '10
Check out this SlideShare Presentation. Let me know what you think.
Dingman Group eBrochure \'10
View more presentations from The Dingman Group.
Thursday, March 18, 2010
Monday, March 15, 2010
Friday, February 19, 2010
Thursday, February 18, 2010
Tuesday, February 16, 2010
Wednesday, February 3, 2010
Tuesday, February 2, 2010
Monday, February 1, 2010
Friday, January 29, 2010
Thursday, January 28, 2010
Wednesday, January 27, 2010
Tuesday, January 26, 2010
Tuesday's Sports Transactions - USATODAY.com
Tuesday's Sports Transactions - USATODAY.com
Oakland Athletics: Agreed to terms with RHP Ben Sheets on a one-year contract. Philadelphia Phillies: Agreed to terms with C Carlos Ruiz on a three-year contract. Oakland Raiders: Named Hue Jackson offensive coordinator.
Forbes.com Video Network | SportsMoney: The Vice Grip On Sports
Forbes.com Video Network | SportsMoney: The Vice Grip On Sports
Michael Ozanian has great questions and reputable guests. Great for anyone in sports to follow on a consistent basis.
Michael Ozanian has great questions and reputable guests. Great for anyone in sports to follow on a consistent basis.
Thursday, January 21, 2010
pelada
Amazing. I got chills when I watched the Pelada (formerly The Soccer Project) trailer. Some things in life are unexplainable. The feelings we get playing soccer/sports are like no other. Thanks for sharing with us Brian Jones!
Wednesday, January 20, 2010
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