Hello! Merry Christmas to those of you that 'arent' offended by that statement and Warm Wishes to all.

I have been attempting to sell a few of my listings lately, and unfortunately, if the home isn't being auctioned, or short sale, real estate just isnt moving. Yes, I'm probably one of the few to step out and say it! The rest of you can 'pretend' all you want about the market, and that your're doing just fine. Well I guess there's always an exception to every rule out there so I expect to hear from some of you about how great your year has been. But I got to tell you, unless you're being fed by your lender, or your broker is playing favorites with you, then you're proably like the rest of us, struggling to survive.

The market has been in a decline and all indicators point to more of the same for quite some time. My opinion, and it's strictly that, is this market will not settle until 2010. The media reported last week that the experts are anticipating another one million homes or more to go into default. Prices have plummeted in most local markets upwards of $150,000. Some more, some less. Again it depends on the specific market you want to look at. I've seen alot of agents leave the office and the industry in the past twelve months. I expect many more to walk away as well before this 'adjustment' completes itself.

The market HAD to. Pricing of homes was totally out of control escalating higher and higher. The builders didnt help keep anything in touch as they got on board and kept raising the prices of their new construction homes, while doing very little to improve the image of the cracker box home. Yes they added square footage, but the end result is the same. A tract home.

Now to my point of this blognosis. I have spent hours on the phone with a particular lender, of whom I have done loads of business over the years with, trying to keep lines of communication open about one of my listings that just went into NOD and the foreclosure process has begun. I've been watching the media report on lenders and even the 'let's wait and see how bad this thing gets before reacting government' on how they are willing to work with the homeowners to give them a chance to remedy their NOD or work out some sort of short sale.

WELL LET ME TELL YOU, THATS NOT AT ALL TRUE OR ACCURATE. THE LENDER IN QUESTION HERE SEEMS TO HAVE THROWN IN THE TOWEL AND FROM MY EXPERIENCE WITH THEM, ARE DOING NOTHING, ABSOLUTELY NOTHING TO ASSIST HOMEOWNERS WITH THEIR TROUBLES. THEY CALL AND EVEN THOUGH IT'S NOT THE OLD SCHOOL HARD TACTICS, SEND US MONEY OR WE'LL COME AND BREAK YOUR LEGS APPROACH, THEY BASICALLY ADVISE YOU THAT YOU'RE GOING TO LOSE YOUR HOME TO AUCTION AND YOU BETTER MAKE ARRANGEMENTS TO GET OUT. Nice! Real Nice! Now thats what I call, compassion. Right Mr. President? Just like Katrina, late on arrival again.

I have tried to talk to them and advise of the active listing, activity, and the other marketing I'm working on to get the home sold for the owner and for them. They told me, 'so is everybody else'. You're not doing anything different to help us. So, then they suggested I contact recontrust, as they will be assiging the auction date. So I contacted this very kind man, NOT! He was as rude as the day can be long. He didnt care either. In fact, he kept asking me, why are you calling me? I attempted to explain to him that the lender, countrywide, suggested that I contact him regarding the home in question and let him know that I'm working on getting the home sold, even as short sale if I can.

Well, to my amazement, I have come to find that this particular lender has decided to just have the homes foreclosed on. Take the loss now and move on, if they can survive.

The attitude they have, and the attitude of many agents right now are feeding the fire much more than should be. I listen to agent after agent, advising sellers to lower the price, lower the price again in 30 days. TOO LATE! If you dont have it sold as soon as it hits the market, it's not going to sell! Not anywhere close to the original asking price anyways. The only homes being sold today are auctioned, short sale, foreclosed homes. AND, they are going for 50 to 75 cents on the dollar.

Now you may have been asking yourself, how is he saying that the lenders are making things worse than it has to be? Because the homes that are being auctioned at 50 to 75 cent on the dollar are being 'accepted' by the lender(s). To add injury to this all, they arent lending! They will lend but not what they originally said they would do. Ask your buyers if the lenders have changed the rate or the fees or the charge to do the loan(s)? What happened to the truth in lending? Now let's get back to the auctioned price or sold price. If you did any homework regarding homes that are being auctioned right now, and if you spent the time to do a comps report, I bet you will find that the home, under normal circumstances (where a seller isnt forced to sell) could have sold for more that it went for at auction. Try it. Take the challenge and prove me wrong, or right. The lenders can do this (and justify this because it's business) because they can take the auction price right now and hold the homeowner who has just lost it, liable for the short amount. And all agents have fallen right into this scheme. Those of you that are selling the REOs anyway.

I am not trying to fault any agent that is making it, selling these properties right now, but I am saying that we are assisting in the woes of our market conditions.

Countyrwide recorded the NOD, and no letter was sent to my client of such filing. No letter has yet to arrive advising of same or when the clock started, and countyrwide has already contacted recontrust, who doesnt care at all, to set up auction when my client hasnt had their 90 day window to remedy the NOD.

Once again, just like you see in Hollywood, if you got the money, you control the system. This is a sad day for our country, a country with no real leadership, or compassion.

Courage for the Journey