By SARAH SHMERLING | Managing Editor
Pacific Palisades resident and Realtor with Coldwell Banker Jon Cates discovered his passion for real estate when working in the community housing office at his college, and he’s never looked back. Read all about his background and what inspires him to keep going.
Sarah Shmerling: Tell me a bit about your life before entering the real estate world. Where did you grow up and what were some of your hobbies?
Cates: I grew up 25 miles north of New York City in Scarsdale, NY.
I delivered the local paper on my bicycle, shoveled snow off driveways and sold what I could think of to the neighborhood folks (used toys, vegetable seeds, you name it.) Over the years, I edited many feature films and played a lot of basketball, though my favorite time is spent with my wife and two children.
Shmerling: Where did you go to school and what did you study?
Cates: I attended the Choate School in Wallingford, Conn. before my family moved to Los Angeles. I spent my junior and senior high school years at Brentwood School before heading off to University of California, Santa Barbara where I received a Bachelor of Arts in business economics.
Shmerling: What lead you to a career in real estate?
Cates: While at UCSB, I worked in the community housing office. My responsibilities included locating housing for out-of-state students. It was here that I discovered my passion for finding people homes. It was the first job I had that didn’t feel like work.
Shmerling: What inspires you to continue your career?
Cates: To date, my passion remains selling homes and finding people their homes, just as I did at UCSB. It’s generally an extension of who I am.
The entire process is very personal and hinges upon connecting with and understanding the needs of my clients. The relationships I develop with my clients are partnerships and, in many cases, friendships that continue and expand as the needs of their families evolve.
More recently, in addition to single-family residences, I have been buying condominiums and looking at investment properties for my clients who are starting to prepare for their children’s first home or a place they can purchase for their parents to live nearby. These are important life decisions as well as investments. I see my work as a very fulfilling mission.
Shmerling: What are some of the challenges of buying and selling homes in Pacific Palisades?
Cates: Buying a home in Pacific Palisades is an outstanding investment and one of the greatest commitments most people will make in their lives. It’s also a daunting endeavor. It can be a challenging market for many buyers, as home inventory is still relatively low and a relatively high percentage of buyers are paying all cash. However, if buyers are prepared with down payment funds, loan pre-approvals and a competitive real estate agent, the playing field can be leveled a great deal.
Shmerling: What are some of the trends in real estate?
Cates: There is some uncertainty in the air and that trickles into every market, including real estate. People are a little reticent to take big positions right now. Millennials have more of an inclination to rent than to buy. Conversely, less than one-third of Californians own homes, so there is still room for increased home ownership. Although many homeowners are reticent to sell their homes due to current tax laws, congress is considering changes that could at some point reverse this trend.
Shmerling: What’s your favorite thing about living in the Palisades?
Cates: I love the neighbors and the neighborhoods of the Palisades. It’s reminiscent to me of the village of Scarsdale where I grew up, however with an incredible and distinctive coastal landscape. The shops, restaurants, merchants and schools … you can feel their connection to the town and it brings us together as Palisadians.
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