In the midst of a difficult time in the Temecula real estate market, there is one thing I am thrilled to report - people are finally listening to the advice and valuing experience. Whenever a market booms, every person in the world jumps in.
When Temecula and Murrieta CA real estate starting posting US leading growth, the amount of real estate agents and loan officers exploded. Buyers didn't think you needed to care who helped you. Good experience in the industry was shunned for a family or friend in the business.
New loan people were stealing away business from established people that actually took seriously the giving of advice and long term outlook of things. While, I don't do loans, I saw way too much craziness in that environment and have stuck with my loan team throughout. And my team is still here, helping my Temecula, Murrieta, Menifee, and Wildomar home buyers by explaing and offering the programs and long term planning that best work for the client.
BTW, For Temecula, Murrieta, Wildomar and Menifee home loans, I highly recommend Mark Woelky of PRMG (www.markwoelky.com). I have always felt he put the client's interest first and often gives advice that often costs him business today but is in the best interest of the client.
Over the last three years, I have told all of my Murrieta and Temecula real estate clients to contact me before they look at new housing tracts, change their loan program via refinance, or have family moving here. I did this because of the dangerous nature of the market and I take my job of protecting my clients seriously.
However, for the last three years many of my clients didn't listen and now I am getting the phone calls I have dreaded. I have clients that:
- Altered title by adding family on.
- Co-signed loans for family on new housing tracts.
- Got into terrible loan refinancele situations.
- Bought new homes while upside down in a current one.
The sheer amount of people that refinanced into bad loans really frustrates me. I have also been very frustrated by builders in Temecula and Murrieta who sell people into high tax rate homes and then undercut the very people they sold to! If you are even considering buying a new home in Temecula or Murrieta, please talk with an EXPERIENCED broker first or you are playing russion roulette. Believe me, the builder's sales people aren't going to stop you from poor decision making!
But I am glad to say the Temecula real estate market is finally changing. We are starting to see a light at the end of the tunnel. The professionals, like myself, who have experience and a passion for the people we work with are more in control. With that control comes the responsibilty of doing the right thing over a quick deal.
And new and old clients are truly starting to appreciate working with a Temecula real estate expert again and giving them credit while taking their advice. I truly believe that this is the first step in a recovering market!
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Amen!! I could NOT have said it any better. Stefan, I must admit I am probably one of the agents you would consider a newbie coming up on three finished years in the biz, but I am a full time agent who has battled against many part timers very much like the scenarios you mentioned. I think that there is a certain mentality of people who are entreprenuers and sales professionals versus those who have a false sense of entitlement because a market is hot. I got in just when the market was changing but have stuck it out and am happily adapting to the current situation.
It is tough when your clients look you in they eye and are excited about a "deal" the builder is giving them when you know its not that hot and doesn't compare to the REO listing you just sold in four days on market. Then the kicker is when they say they are using the builders lender to get their closing costs paid. When you ask them if they got a GFE, they get that deer in the headlights look, you know its not good. I've seen even the pickiest most discriminating clients fall for this....