Here's some things to think about...
1. Is the leaders that are voting on this bailout. purchasing a home or losing one in this market?
2. Have they sat down with these people and discussed what really is being affected?
3. Does paying off the top executives help out the economy?
Here's my thoughts and I'm sure thoughts of many others thinking further down this bailouts future.
There are people losing their homes every day, are we all following so far?
The banks get short sale requests every day, along with Bank Owned take overs of the homes that either chose not to short sale, or homes that did not sale as a short sale.
As banks have full control of both senarios.
If the bail out happens....
What about the people who already lost their homes?
What do you think their reactions will be?
I know there is alot to this stock market/ Housing market bailout.
But from a Realtors point of view,
mine.
Making mortgages available even if the homes are upside down
We all know historically the housing market will bounce back, it always has.
lots of these people would give just about anything to stay in their American Dream.
And for those that are going to walk nomatter what:
Hiring enough people in the banking system to clear out the contracts that have been cluttering bank desks for months on end.
Does anyone outside of the Real Estate and Lending sectors know it takes months to close a short sale home and now a bank owned home is not closing in a timely fashion either?
In a perfect world these people would not have gotten into this financial burden.
and we all know the gains in Real Estate were bound to have consiquences.
Here's to hopeing that our economy can rebound soon.
And that the bailout plan is workable for us professionals, in the business of protecting and advising our clients, through one of the most valueable and emotional trasaction they will ever make.
Denise Stuart
http://denisestuart.spaces.live.com
Silicon Valley Realtor
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