David Taran is a firm believer in pursuing a diverse and balanced life. David is a licensed real estate broker in the state of California and a practicing lawyer for California, New York, Florida, and Quebec. As the co-founder of Sunstar Capital, David brings more than 26 years of experience that includes many different aspects of the investment process including negotiation, acquisition, finances, development, redevelopment, construction, and investment and property management.
Sunstar Capital is a recently launched commercial real estate company focused on high-growth markets in the Western United States. The venture utilizes the merging of several seasoned professionals, including co-founder, Mark Skeen.
Prior to his work at Sunstar, David was the founder of Divco West Properties, and also worked as a managing partner at his family’s manufacturing and retailing business. This venture, which operated on a global scale, gave him a perfect place to hone his diverse skill set that he continues to use today. As a partner, he worked on capital investments, strategic and financial planning, sales, real estate acquisitions, real estate negotiation, and currency trading and management.
David Taran also worked as a practicing attorney at Graham & James in Los Angeles. There, he specialized in Tax, Corporate, and Real Estate law. David holds a DEC degree from McGill University, an L.L.L degree from the University of Ottawa, a J.D. degree from Columbia University, and a Masters in Tax Law from New York University.
Throughout the span of his career, David has acquired $2.3 billion in real estate, which includes over 700 acres of land, 1,800 multi-family residential units, 449 hotel rooms, and 13.8 million square feet of buildings. David’s successful record is a testament to his diverse and balanced portfolio. David credits his rich portfolio to his earlier roles in as a managing partner and practicing attorney.
Meaningful, Mindful and Balanced
On a personal level, David is an advocate for creating a balanced, meaningful life. Despite his success, David upholds that a life filled with meaning and intent is far more enjoyable than a profitable one. To this end, he continues to support Project Happiness, a thriving non-profit started by his wife, Randy. Project Happiness is dedicated to providing the tools and resources needed for individuals to live an empowered, happier life.
David is proud to support the organization and serves on the board of directors. As a board member, David brings his unique experience and skill set to the table in an advisory capacity. His personal interest in the organization’s mission combined with his professional knowledge makes him an invaluable member of the board and his local community.
David’s continued passion for promoting greater happiness and meaning in everyday life continues to launch his career and leadership skills in exciting directions.
Connect with David
Recent Blog Posts from David:
For several years, real estate markets on the West Coast have been thriving sellers’ markets. In recent months, markets indicators point to signs that these previously hot markets are starting to cool.
Market Indicator: Inventory Is Increasing
After years of low inventory, the number of homes available for sale in West Coast cities is growing. As of February 2019, major West Coast markets experienced dramatic year-over-year increases in inventory. Supply in Seattle has jumped to 101 percent while San Jose inventory has gone up 82 percent. In Portland, inventory has risen 37 percent.
Market Indicator: Homes Are on the Market Longer
For the first time since 2015, the number of days homes spend on the market is going up. Year-over-year figures for January 2019 show that homes are on the market much longer in several West Coast cities. Median days on the market have increased from 15 days in January 2018 to 47 days in 2019 in Seattle. Homes in San Jose are up to 45 median days on the market which is up from last January’s 12 days. The year-over-year increase in Portland went from 28 days to 50 days.
Market Indicator: The Number of Real Estate Transactions Is Declining
The number of real estate transactions has decreased throughout the West Coast. In Los Angeles County, the number of home sales in January 2019 was down 15.8 percent from the previous year. San Francisco County saw an 18.5 percent drop in homes in January 2019 in comparison to January 2018. The same county experienced a 34.4 percent plunge in homes sales from December 2018 to January 2019. In December 2018, San Diego County saw its fewest home sales since 2007.
Market Indicator: Bidding Wars Are Less Common
While frenzied bidding wars commonly accompanied last year’s home sales, West Coast real estate markets have seen a dramatic dip in multiple offers this year. Year-over-year data from January 2019 shows that home receiving multiple offers have plummetted in comparison with the same month last year. While 69 percent of Seattle home transaction involved multiple offers last January, a year later that figure plunged to 15 percent. San Francisco has seen multiple offers drop from 82 percent to 18 percent. Bidding wars in Los Angeles have dived from 73 percent to 16 percent.
Moving in the winter is no fun. Hefting heavy boxes in boots and parkas, not to mention travel in snowy weather doesn’t make an already stressful process easier, but there are surprising advantages to buying a home a winter that may make it worth the effort.
Sellers Are Motivated
Nearly half of existing home sales occur in the late spring and summer months. Buyers like to see a home in its summer glory, and homeowners prefer to sell when their property looks its best and moving is a breeze.
When a choice home shows up on the winter market, the chances are higher that the seller needs to relocate quickly and with fewer buyers on the hunt, it’s more likely that a lower offer may be considered.
Homes Are More Honest
Most properties look better after a spring primping, but in some cases, it’s possible that the fresh coat of paint on the walls is covering up defects buyers would rather see. The harsh winter elements bring out the worst in both houses and landscaping, giving potential buyers the opportunity to see if the roof leaks or if heavy spring rains flow through cracks in the foundation. While these types of issues are common in most homes, they serve as a bargaining chip when they’re obvious.
The Loan Process Is Faster
April sees a rise in mortgage applications and with it comes the busy season for lenders, home appraisers, title companies and movers. Between Thanksgiving and New Year’s Day, there’s a welcomed lull and for buyers, that can translate into a 30 percent faster loan process from start to close.
There’s Less Competition For Top Properties
Home inventories are greatest in the spring and summer, but in a tight market, sellers with hot properties can play buyers against each other to get top dollar. Just a few competing bids can put the price of a buyer’s dream out of reach and use up valuable house-hunting time. While choices in winter may be limited, there’s a better chance of striking a favorable deal.
A smooth summer move may be less hassle, but give winter house-hunting a chance. Scoring a cold weather bargain on a dream home may be worth bundling up for.