honesty: But Wal-Mart does - 07/15/07 10:32 AM
I promised a continuation of my last blog, and here it is. In the last entry, I talked a bit about limited service and discount brokerage. This time, it will be more about eliminating agents from the picture.
OK, here is the shocking statement to start off with. Buyers and sellers … (3 comments)
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honesty: Mercedes-Benz doesn't discount - 07/15/07 10:00 AM
The world has changed. The question is, "What are we going to do about it?"
Wal-Mart, Target, Harbor Freight Tools, and scores of other discounters are thriving. But, is that the model that we should pursue? Is that what our customers really want? Are we headed for extinction? With all of the … (4 comments)
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honesty: Ideal Realtor & Loan Originator Partnerships - 07/05/07 06:38 PM
We all know the importance of teaming up with Real Estate Agents and Loan Originators. But what is in this partnership that creates synergy?
I personally have a few points that I look at when speaking with an Agent....
What do you like about being a Real Estate Agent?Where in a transaction are you … (7 comments)
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honesty: An unfortunate stereotype, part II - 07/03/07 07:16 PM
I was talking with a lawyer friend of mine, and the previousblog came up. He relayed an experience to me that he was involved with.
In another state (thankfully) there was a case with a Broker that sold a house he owned. It seems that he lied on the property disclosure, … (1 comments)
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honesty: An unfortunate stereotype - 07/02/07 08:30 AM
I had an interesting experience yesterday, and I'll get to it in just a moment.
On TV, or in the movies, I often see derogatory stereotypes of real estate agents. I see us portrayed as less than intelligent, greedy, and not very scrupled. We aren't portrayed as dangerous, but rather ineffectual. … (6 comments)
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honesty: UPDATED: Suffering from Hoof and Mouth Disease? Feng Shui Perspectives and the Truth... - 06/23/07 07:56 PM
Let me say first that I have to get personal with my clients. Sometimes VERY personal. If I don't know what their particular issues are, I am not going to be able to help them as best I can. Most of my clients fully understand this and I am always careful … (19 comments)
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honesty: Breaking Down 7 Popular Stereotypes About Real Estate Agents - 06/19/07 07:22 PM
Well this one may be a bit controversial but I've been thinking about this for a while and decided after encountering so many people that have strong opinions about agents that it's time to share my thoughts.
I think the final straw was when I heard a radio commercial by a … (0 comments)
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honesty: In a word 'Honesty!' - 06/12/07 06:58 PM
Let's talk about honesty today. Yes I know this isn't the first time and I'm sure it won't be the last time that I address this topic. The problem is that during the past 10 days I've encountered a few situations that made my head spin.
First I can't stress enough how … (0 comments)
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honesty: The Case of the Bounced Check - 05/31/07 04:42 PM
Here's another one of those crazy escrow stories courtesy of Charlene Hughes of our Sonora office (you'll appreciate reading it to the end!): My client told us that this would be an all cash deal. He told us the money was in his trust account and all he had to … (5 comments)
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honesty: It's not only what we say, but how we say it... - 05/22/07 12:39 AM
I was watching one of those real estate shows on HGTV the other day, you know the one where the couple sit next door watching a small TV as a real estate agent goes through their home offering their critique of the property. As with many topics on TV, shocking or … (20 comments)
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honesty: NAR, ABC, Leslie Stahl, Imploding Market, Discounters - Make it Bleed to Make it Lead News - 05/17/07 08:26 AM
So just exactly how does it feel to be in a highly regulated industry which is constantly under attack from both the media and dis-informative insiders? I don't recall too many real estate agents sticking up for the mortgage industry over the past few months - in fact, I believe all … (2 comments)
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honesty: What is "Texas Style Real Estate" - 05/10/07 05:29 PM
What exactly is Texas Style Real Estate
As a native Texan there are certain qualities that I feel are more than just words. They are my core values and a way of life.
Honesty can be defined as fairness and straightforwardness of conduct.
Integrity is a firm adherence to a code of ethics.
Dependability … (0 comments)
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honesty: Is rate more important than service these days? - 05/07/07 11:08 AM
As a loan officer, I get many calls regarding rates. When I speak with a prospective customer, the first question is usually, "What are your rates?" First of all, that is such a difficult question to answer. There are hundreds of programs, and the scenarios are all different too. Pricing is … (6 comments)
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honesty: I have the best clients! - 05/04/07 07:43 PM
I had to post some comments from recent clients.
I have also posted them to my Testimonial Page.
Thanks Clients! I really enjoy working with you too!
"We wanted someone who would work with us and not be constrained or biased by their own listings or those from colleagues in their same office or group. … (2 comments)
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honesty: What were they thinking lll lV V - 04/13/07 12:58 PM
This 60ish woman also had a new water heater installed. The drain line was too small for the relief valve, the electrical wiring was improper, and they placed the water heater right in front of the main panel.
This seller did nothing wrong but to hire incompetent, lazy, sleazy, and dishonest … (2 comments)
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honesty: And the Fraud Continues… - 04/11/07 04:32 PM
Recently I was approached by a fellow loan officer who was asking me to do his purchase loan in a nice part of Scottsdale, Arizona. I had worked with him many years before at a very large lender and he had done well for himself since we had parted ways. I … (15 comments)
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honesty: Still Mixed Reporting on Real Estate Market? - 04/04/07 03:03 PM
And I quote, "new reports signal that the real estate market may not be as bad as originally thought". Fox News, 4/4/2007
Maybe that's because percentages are easily misunderstood and manipulated to sensationalize a situation but raw numbers speak for themselves. Here is a short example: The price of cherries went up … (2 comments)
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honesty: WARNING.....AV being infiltrated by fraudulent scamers? - 03/20/07 06:07 PM
Prefer a loss to a dishonest gain; the one brings pain at the moment, the other for all time - Chilon
I logged on this morning to read a few blogs. As fate would have it (LOL), I received a note here on AV from someone by the name of "Miss Roffina Naina" asking … (19 comments)
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honesty: Getting paid what we are worth! - 03/20/07 04:40 PM
Hello everyone, Spring is here well I guess really its here tomorrow, but I feel it early, lol. Hope everyone is planning on a fast paced year! I've been so pumped lately with "The Secret" DVD and the great info that contains, to the amazing Mark Leader program I have been … (3 comments)
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honesty: Foreclosures and Buyers: Too good to be true usually is! - 03/19/07 01:12 PM
Virginia Halter's blog at ActiveRain discussed the issues surrounding Foreclosures and Buyers... and reflects the thoughts of all the agents and brokers, lawyers and loan officers here at Focus Real Estate Group, Inc. The particulars are for her market area, and are detailing issues and facts particular to that area, but … (15 comments)
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honesty: Value is a Relative Term (or, 'How To Grow Your Own Evangelists') - 03/14/07 10:58 AM
I hate being ripped off by vendors that assume I have no option but to accept their inflated, without value approach to 'earning' my business! My wife says I'm obstinate (in fact, so did my Mother), but I see it more as a matter of principle to NOT accept being taken … (0 comments)
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honesty: Zero Closing Cost Loans ... Hmmmmm - 03/11/07 11:45 PM
Okay, anyone who has read my posts knows I don't pull any punches and, after the exchange I just had with a mortgage broker from Virginia, I feel the need to revisit this just one more time. Funny thing is that this broker is a contributor to "Realty Times". So … (2 comments)
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honesty: As PROFESSIONALS, we need to RAISE the bar & educate consumers......... - 03/07/07 01:56 AM
TAKE CHARGE..... should be everyone's motto in the mortgage and real estate industry. Not only educating consumers, but those that we work with. Many of you, as myself, have become fed up with people in our perspective roles. These individuals either use 'trust' as a weapon against a potential client and … (69 comments)
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honesty: Values and Relationships - 02/28/07 08:28 PM
I sat myself down one day and considered all the various kinds of careers and jobs I had to choose from. If I didn't have to work to pay the bills, I would have plenty to keep me busy. I enjoy art projects, photography, writing, various outdoor activities, but that just … (1 comments)
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honesty: "The Dark Side of Real Estate" - 02/03/07 06:02 PM
In any job that involves the transfer of money, there is always an opportunity and temptation to be swayed by the "Dark Side of the Force." Many times we feel we can bend the rules, however slightly, to justify the means to an end. We try to convince ourselves that we are genuinely serving our clients greater … (7 comments)
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honesty: Only We Can Do This Loan and Other Mortgage Pick Up Lines - 01/16/07 05:39 PM
Fellow lenders, brokers and loan originators I am pointing our fingers at us on this one. Is it any wonder the buying public thinks we are all a bunch of trash talking thugs? Oh I am not excluding you big guys like __tech.com and Quick__ Loans. You guys may be the … (27 comments)
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honesty: DOM (DeLuise, Perignon, or Market Statistic?) - 01/16/07 01:51 PM
By Rich Schiffer, Weichert Realtors
Recently, there has been much discussion on ActiveRain regarding DOM.
We are not talking about Dom DeLuise, who is often the funniest part of Burt Reynolds' films.
Nor are we talking about Dom Perignon, which is likely the most recognized name in Champagne.
What we are talking about is the … (10 comments)
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honesty: Appraisers - What do you think they should do.................? - 12/12/06 06:10 PM
On the standard Request for Appraisal form, next to the Property Information area there is a box for you to fill in the Estimated Value.
Now the average appraisal in my area of Florida is between $300 and $350 - not a huge cost, but not free!
I have several Appraisal services that I've … (20 comments)
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honesty: The NEW Loan......... - 12/11/06 03:57 PM
While I was in the gym this morning-
(Better intro than - So I'm on line at the bank.....)
Someone came up to me and asked if I still did mortgages.
ME: Sure - what can I do for you?
HIM: I'm going to need a loan for a new house.
OK, have you found a place yet....?
… (41 comments)
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honesty: State and National Mortgage Fraud Laws... - 12/08/06 03:01 PM
I just read a comment added to Jeff Corbet's blog: Warning! More Pornogarphic Mortgage Content!
Here's part of it:
"What needs to be done to curb this type of fraud is for the states and Washington to actually pass mortgage fraud specific laws. Georgia, if I am not mistaken, is the only state with a mortgage … (2 comments)
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honesty: Freakonomics review #2 - 11/29/06 04:10 PM
I just found this paragraph really funny and I had to share it with you... I hope none of you do this...
" Consider this true story, related by John Donohue, a law professor who in 2001 was teaching at Stanford University: "I was just about to buy a house on the Stanford campus," … (8 comments)
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honesty: Teamwork - 11/29/06 10:35 AM
Staging is a tough business, let's face it, this is HARD WORK!!! SO WHAT DO WE DO THAT MAKES US DIFFERENT FROM EVERYONE ELSE?
Develop a team of professionals that you can refer and rely on always. A team of painters, movers, electricians, plumbers and contractors. People that are truly serving from … (4 comments)
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honesty: What is the 1 question that you DON'T want to ask your Mortgage Broker? - 11/28/06 08:53 AM
Now- before you get the wrong idea, you can and should ask your Real Estate Agent and your Mortgage Broker any and all questions you have - and if they don't seem to want to answer them and / or educate you, you MAY want to consider using someone else!! … (5 comments)
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honesty: Brokerage Relationships - Transaction Brokers - 11/25/06 07:29 AM
Good Morning!
This morning's post is being written to clear up some confusion that seems to exist about representation of both sides of a Real Estate transaction.
DISCLAIMERS:
Keep in mind that I'm basing this on Florida law, your state may be different. I am talking about Residential transactions not Commercial.Also, I am … (24 comments)
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honesty: A Good Faith Esitmate is NOT an option! - 11/22/06 05:50 PM
Here's another favorite of mine - Mortgage Brokers and Loan Officers that don't give out REAL Good Faith Estimates (GFE's).
Here is the description of a GFE straight out of The US Department of Housing and Urban Development's publication HUD-398-H(4) - "Buying Your Home - Settlement Costs and Helpful Information":
The … (15 comments)
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honesty: A few more terms that should raise a flag!! - 11/21/06 10:21 AM
A lot has been posted lately about words and/or phrases that Customers need to look out for.
Yael Warman's post from yesterday was great and it featured a long list of things that the NAR's Program for Compliance defines as "Dangerous". If you haven't already read it, you should.
Not only do we in the business … (36 comments)
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honesty: Wonderful way to start off the morning! - 11/17/06 06:17 AM
I've only read two posts so far this morning and I'm shocked at some of the stuff I read!
The posts themselves were great - the stories were really horrible.
The fact that people in our business act like this make me sick. We've all written about it, hopefully working together on these … (12 comments)
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honesty: HELOC Confusion......... - 11/09/06 04:27 PM
I got a call from a potential Client today that had some questions about a loan he'd gotten a while back (from another Broker). He was a bit confused.....
Such a simple loan, SOOO much trouble!
HELOC:
H ome
E quity
L ine
O f
C redit.
Why would you get one? You … (7 comments)
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honesty: Props To My Broker! - 11/04/06 11:09 AM
I just had to give props to my broker Frank De Luca. This past week I had a few showings in my area and I had to call around of course to get appointments. sometimes I would just get so upset because agents will not call me back until about a … (1 comments)
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honesty: Rhode Island Realtor's promise to you...............! - 11/03/06 08:22 PM
What do I want people to know about me?
They already know I am a Realtor in Rhode Island.
They know I am very familiar with the small neighborhoods,in Warwick, and especially coastal neighborhoods in Rhode Island.
They may or may not know I occasionally deal in REO property.
They may or may … (6 comments)
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honesty: Listen to your Gut Feeling... - 11/01/06 09:05 AM
Have you ever had a gut feeling that made you go against what you normally do? Or have you ingored a gut feeling that you ended up paying for later down the road?
I just had one come back to me the other day. Fortunately, it was in my favor.
I got a … (2 comments)
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honesty: If You Can't Beat Your Competition, Lie To Your Clients - 10/30/06 04:38 PM
Why does it seem this has become the motto of my own industry? If you live in one of the towns where JS from LF advertises heavily on the radio you've heard him say "Don't give a broker another penny of closing costs to refinance! It's a racket! It's a rip-off! … (1 comments)
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honesty: Anonymous Posters: If You Know You're Wrong, Hide Your Identity? - 10/28/06 10:01 PM
I suppose if you are going to make erroneous comments with non-factual supporting data there is no better way to do so than to post anonymously. We're having a better exchange of ideas and opinion backed by factual data than I've encountered on AR or any other blog in quite some … (4 comments)
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honesty: Another Person Conned by the 'Discount' Folks! - 10/23/06 01:27 PM
JUST HOW MUCH BULL DO PEOPLE WANT TO DEAL WITH!!!
There have been a lot of posts lately about scams in the Real Estate and Financing sides of the business. I think that the majority of people here in AR are very concerned about cleaning things up - the only way we … (8 comments)
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honesty: More on the .Com 'Lenders' - 10/15/06 08:07 AM
I just finished reading George Souto's post about the .Com guys and all of the confusion that can result.
I got a knot in my stomach! Not from the article - it was very good - but from some bad memories.
In the past I had worked for a company that spent a TON … (3 comments)
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honesty: I am a little disappointed in these blogs - 10/14/06 11:19 AM
This is a two part entry...
First, why is that some entries get read and others never read at all? I have posted several entries talking about loan programs, who they are good for, when to use them, who to trust, etc. I am sure these are also over exhausted topics. I … (20 comments)
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honesty: Continuing the 'Finance Reality' trend - More on Good Faith Estimates. - 10/12/06 06:49 PM
Hello Everyone-
I've been on ActiveRain for about week now and one of the things I'm very happy about is the number of Mortgage Brokers that seem sincerely driven to educate and help Customers. Believe me - this isn't an ethics lecture! It is just Good Business!
You can't talk about being … (6 comments)
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honesty: Pre-Qualification vs Pre-Approval - 10/11/06 03:26 PM
A Customer contacted me the other day and she was a bit annoyed that her Realtor wanted to see proof that she had, or could get, the money necessary for a purchase - THE NERVE!
Customer Reality Check: Quite a bit of effort goes into getting the property that you really want - No … (4 comments)
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honesty: Dear Realtors - what do you think of this? - 10/11/06 01:58 PM
I'd been asking questions to local Realtors - face-to-face and on line - about what they want from the Financing side of the Real Estate world. I have gotten a lot of responses - good and bad!
So that you all know, this is how I like to operate:
I am NOT:
The doughnut delivery guyThe … (6 comments)
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honesty: Real Estate and Financing working together?!?! - 10/10/06 04:38 PM
Can't we all just get along, sob,sob? Sorry, I couldn't resist!
Seriously though, I just read a post by Amy Grashel that talked about some issues she had in the past with Mortgage Brokers gumming up the process and, unfortunately, I have to say that I agree with her observations.
I've been a … (6 comments)
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honesty: Title's are so tough - 10/08/06 05:45 PM
Honesty is always the best practice even if the truth does not benefit you personally. The reason I say this is I just took another application this afternoon from a couple who caught another loan officer in a lie. Those folks really make it hard for the rest of us to do … (3 comments)
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honesty: What has happened to meeting your client face to face? - 10/08/06 03:54 PM
Too many times I have met with clients face to face, and have closed those deals with them despite the number of competitors involved.
Let me explain... I just closed a rate and term refinance loan where there were two other brokers/lenders involved. The first was the original broker/lender that put the … (2 comments)
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honesty: What Pre-Pay Penalty?!? - 10/07/06 06:13 PM
Hello!
Some things never cease to amaze me - One of the worst is when I am refinancing someone's property and I have to break the bad news to them that they DO, in fact, have to pay a Pre-Pay Penalty on the loan that they are paying off. I've seen … (2 comments)
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honesty: GFE's that 'stretch' the truth. - 10/07/06 05:31 PM
Hello-
I'm wondering if anyone else has come across this problem AND what you did or would do. A potential Customer showed a competitor's GFE to me - they wanted to know why their fees were lower than mine. Reasonable question - I commented on the fact that the total closing costs … (2 comments)
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honesty: Why I Don't Practice Dual Agency - 10/05/06 09:24 PM
by Rich Schiffer, Weichert Realtors
I have a personal policy of never representing both sides of the same transaction. I do not practice dual agency.
Definition: (per Pennsylvania Association of Realtors' Glossary of Real Estate Terms)
Dual Agency: A business relationship where the licensee, with written agreement from both parties, works for both … (29 comments)
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honesty: Opening Night and Home Inspections - 09/16/06 05:11 PM
Last night, before a sell-out audience, we performed the opening night of our community theatre production of "Footloose." My 15-year old son, Elliot, and I are in the cast together. It's been a total blast so far and I'm looking forward to our 4-week run.
Afterwards, we went out to Applebees to celebrate. The "older" cast members quietly sequestered … (2 comments)
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honesty: Realtors, what was the bad experience you had with them? - 09/11/06 12:55 PM
Real estate agents wield a stunning degree of control over property transfers. They often direct their clients to mortgage brokers, inspectors, title and escrow companies, and even lawyers. They are trusted to keep their clients best interest at heart when working together. Sometimes things go bad in the relationship or the … (4 comments)
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honesty: Skogman Realty and Christopher Smith - 08/25/06 12:36 PM
In 1974, when I was a wee lad at the age of 12, I was asked to play on a little league baseball team in Cedar Rapids, Iowa. The name of the team was Skogman Realty. I played for two seasons with Skogman and then went on to the bigger and … (3 comments)
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honesty: The pressure is on! - 07/23/06 10:40 AM
Ok, so I got an extra 1000 points for posting interesting content on my Blog. I must say that caught me off guard and was totally unexpected. I do accept it as a compliment but it is a little embarrassing for me. I have always been a “lone wolf” and avoid … (2 comments)
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