Friday, November 17, 2006

Crisp & Cole co-owner stepping down

Big changes this morning for the Bakersfield realty duo Crisp & Cole.

Carl Cole, 60, has confirmed that he will step down as chief broker, but will remain a partner in the firm.

Cole says the move was amicable between he and co-owner David Crisp, and he hopes to ease up on his work schedule. He says his health was also a factor in the decision, and that he wants to spend more time with his family.

In September, the two denied rumors of bankruptcy and F.B.I. investigations.
Cole says he will now focus on developing a $350 million office and condominium tower project, with Cal State Bakersfield.

Let me be the first to say there is 100% no way CSUB is going to do this project. What a total joke! Also, no mention of the competing business that is not a competing business:

Cole is no longer the broker on record at Crisp & Cole. Instead, he has signed on to work as the broker at his son's Bakersfield business, Points West Realty.

Cole said he is not competing against himself by working with son Alan Cole and Crisp concurred.

Both said Points West is significantly different from Crisp & Cole: It's a small, traditional real estate office that doesn't advertise on TV or maintain a high profile.

"He's running that whole thing," said Crisp

Not a competing business - don't they both sell real estate? Love the line he is running the whole thing - So don't blame me when...


Anonymous said...

CA Guy here from Ben's blog. Thanks for the update on these two goons. Spending more time with family is the ultimate cop out, usually taken by congressmen and corporate execs when the ship is clearly sinking. The general public might not know all the details yet, but bankruptcy and FBI allegations don't usually get thrown around lightly. There probably is some truth to at least one of the rumors. My guess would be that Crisp is the one in big trouble, and now Cole is trying to distance himself in any way possible. A $350M project with CSUB? Anyone who has ever driven by the campus, and who knows the state universities can tell that is a pipe dream. I really need to read that classic book, Popular Delusions and the Madness of Crowds. The bubble in a nutshell.

Bakersfield Bubble said...

CA guy-

Well said! $350 million project - LOL!! They have to know with 100% certainty that project will not get built!

Anonymous said...

I guess you and I are not the types that like to huff and puff, and blow smoke up people's tail pipes. These guys must have read one of Donald Trump's books. Man, I would love to see that Crisp guy have his $500K Benz repo'd as he is hauled away in handcuffs for some shady deal. I'm not jealous of his $, just don't like arrogance. I know alot of people with true wealth, and none are fame seekers. Appreciate the updates!

-CA Guy

Rob Dawg said...

This isn't in any way jealousy or envy. David Crisp is building a $5m mansion, has a $500k car and a $50k watch. This is his cash flow half share of a real estate brokerage? NFW. There is just no way and NEVER WAS a way for the Bakersfield market to support such excess. I'm not going to be satisfied when Crisp goes down. THe DA and others need to get their desserts as well before anything close to justice is served. The CSU trustees deserve some blame. The Bakersfield City Council and planning staff deserve even more responsibility.

I can see the press conference now. Cole an elderly and respected citizen leaves a corrupt situation, turns state witness and expresses regret at being duped and ashamed by any harm that shyster Crisp caused.

My number one on the blame parade? The paper. Therse bastards are gonna get reporting awards for the events they helped cause.

Anonymous said...

Highrise condo in I have heard it all.

Bakersfield Bubble said...

Cole is no longer the broker on record at Crisp & Cole. Instead, he has signed on to work as the broker at his son's Bakersfield business, Points West Realty.

Cole said he is not competing against himself by working with son Alan Cole and Crisp concurred. Both said these are two significantly different (businesses).


(1) If he is going to slow down - why sign on with son - WHO BTW used to work for Crisp&Cole??

(2)He is not competing against himself and these are two "different" businesses?? They both SELL REAL ESTATE! WTF Else do they do?? WHAT A TOTAL LIE!

There so many holes in this story! This newspaper refuses to do any researh or fact finding!

Anonymous said...

Remember the "Lords of Bakersfield in Rolling Stones Magazine. The Kern County government is corrupt and full of shisters that cover each other's back.

Here's the link

Anonymous said...

I am adding your site to my mine as well. Let's get this info out there!

Anonymous said...

Cole is trying to duck out of making the perp walk.

Then again he hasn't killed any cops and he's, ahem, a respectable businessman who contributes to charity (like the cult-of-personality shyster who runs family motors) - so maybe he's gonna pull an OJ.

Merced Going Quickly said...

Someone posted my Merced housing blog in the Mered Real Estate craigslist. It was crazy! I got three emails in one day from angry RE agents.

Let's slam criaglist with links to bubble blog and see what happens

Merced Going Quickly said...

I heard this guy walks around with bodygaurds, in Bakersfield?

Also, the Cole guy leaving to help his son says alot.

Merced Going Quickly said...

I love it! Right in the middle of all these post for this overpriced junk, is the posting "Merced Housing Overpriced 77%". You've got to read it. Actually, I'm going to keep posting my blog on Craiglist.

Here is the link to the post:

Anonymous said...

Just heard on the radio from a mortgage broker:

"Refinance now before your home equity evaporates!"

Anonymous said...

The newspaper article that featured David Crisp several months ago, wasn't an independent article at all. He actually paid for it. It was a complete "Look at me!" article. The article also claimed that he was "sitting at his desk in his $1500 suit on is 6 foot frame." If David Crisp is 6 foot tall, then I'm Santa Claus. I know one of the agents who left Crisp and Cole to go with Carl. If things were so good over there, he would have stayed. Also, DON'T BE FOOLED BAKERSFIELD. Crisp and Cole made their money from buying new construction homes, waiting for them to be built over 6,7, or 8 months, then selling them at the appreciated value. I know this because I was in the real estate business and actually saw some of the transactions. They made literally $60,000 on average PER DEAL and probably closed 50 deals a month. The way that they did it was to have an agent go to a builder (tract, semi-custom, or custom), put a deposit down for construction and pretend like they were a new home buyer (funded by Crisp and Cole), then when it came time to take possession of the property, list it immediately and sell it. Now, there's nothing illegal about the manner in which they did this, but for him to think that he can now continue, is a bunch of bologna. Good luck David.

Anonymous said...

this is the real deal i heard that this guy is related to the king of sweden somehow and has been getting all his money from a living trust for the last year from the citizens of sweden and with him and carl spliting up its really a divide and conquer approach to the real estate market in bako these guys are secretly taking over and are going to push all other realtors to blow their heads off. now i know their are some of you that believe this BS I just wrote cuz it seems like you would believe anything from the S**t your writing if you cant handle change then move to some 3rd world country cuz change happens here and you need to adapt to it or move on. only the strong will survive and the winners are the ones that write history