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Musings From Bel Air: I'm Starting To Take It Personally

By Lanette Branch

Real Estate Agent with Taylor Properties 500436

January 03, 2009 09:48 AM

I really am starting to take this all personally.

Did everyone I sold a property to in the last few years default on their mortgage? For sale in Bel Air, MD

No?

Then...if they haven't defaulted yet, are they about to?

For sale in Bel Air, MD

I'm serious here. It's all too much for a girl to bear. I get a phone call or two each month now with a former client on the other end. Most times these calls are asking for guidance on what to do now that they need to sell their home -- the home they just bought 2 or 3 years ago.

That's not good, because these are not investors; they were in it for the long haul -- or so I thought.

I have to tell them the cold, hard facts about today's world of real estate. They probably owe more on the house than the house is worth. Realtor logo

I'm really tired of saying this over and over again.

I wish I didn't have to.

I've morphed into an HRC (Home Retention Consultant) the latter part of 2008 and I ain't gettin' paid extra for that!

Listen up, guys. If you absolutely, positively have to move (job relocation, no income to pay any mortgage, etc.) then call me to sell your home. I'll start the short sale process poste-haste and hope like hell your lender isn't Countrywide (or Popular or People's First).

But --

If you can stay in your home, please do just that.

Stay and pay (your mortgage, that is) and grow your equity the old-fashioned way -- with time. Maybe a loan modification is in order? I'm well-versed in that process and can certainly help you on your way. That's where the HRC part comes in. The past is just that and the wacko double digit appreciation we enjoyed just a relatively short time ago is gone, gone, gone.

This ain't your Mama's real estate reality, that's for sure.

It's 2009 and guess what?

I'm still standing -- but I'm starting to take it all personally, too.

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Vickie Slade

Colorado Landmark, Realtors - Boulder, CO

Service You Can Trust ~ Someone You Can Depend On

You should feel flattered as well, that your past clients think so highly of you that it is you they are coming to for help and advice rather than someone else. Pat yourself on the back, you obviously left a very favorable impression with them.

Jan 03, 2009 09:47 AM

Lanette Branch

Taylor Properties - Bel Air, MD

Bel Air, MD Real Estate Agent

Vicky - thanks for the vote of confidence. I just want to do whatever I can to keep my clients in their homes if at all possible. It's just really taking a toll on me right now, if you know what I mean.

Jan 03, 2009 09:49 AM

Tim Maitski

Atlanta Communities Real Estate Brokerage - Atlanta, GA

Truth, Excellence and a Good Deal

Count yourself fortunate that you're still standing. It sounds like many of your past clients are getting ready to take a fall. They have a real burden to worry about.

Jan 03, 2009 09:59 AM

Lauren Krady Lancaster

Keller Williams Realty - Lancaster, PA

PA Realtor

People need to think of housing as a long term investent, if it does appreciate in the short term that is a benefit, NOT a guarantee!

Jan 03, 2009 10:03 AM

Lanette Branch

Taylor Properties - Bel Air, MD

Bel Air, MD Real Estate Agent

Tim - I know how blessed I am to still be standing when all around me seem to be floundering -- at least according to the Media. I just don't believe that it's that bad for agents/brokers as they would have us believe. I don't. I see many agents not just surviving, but thriving...

Jan 03, 2009 10:05 AM

Lanette Branch

Taylor Properties - Bel Air, MD

Bel Air, MD Real Estate Agent

Lauren - Yeees! You hit the nail on the head! Real Estate is an investment and we need to be able to see the big-picture/long term-ness of it all (and relay that info to our clients in a way that they can understand).

Jan 03, 2009 10:08 AM

Emily Lowe

RE/MAX Homes and Estates, Lipman Group - Nashville, TN

Nashville TN Realtor

Ouch. That sounds very painful... I have had to tell a couple of people the same thing and they are never happy about that! I hope your 2009 sends you more than just people who need to sell their upside down homes!

Congrats on the Feature!

Jan 03, 2009 10:11 AM

Lanette Branch

Taylor Properties - Bel Air, MD

Bel Air, MD Real Estate Agent

Emily - thanks for stopping by and commenting on my ramblings. Say what? Feature? Stop the madness...I'm not worthy...

Jan 03, 2009 10:21 AM

Tanya Venable

Orlando, FL

SEO, Mobile SEO, and Internet Marketing Consultant

Hey Lanette, don't take it personally. It is really tough for tons of people right now. You seem to go that extra mile for your clients so I am sure that it is nothing personal.

Jan 03, 2009 10:36 AM

Tanya Venable

Orlando, FL

SEO, Mobile SEO, and Internet Marketing Consultant

Oh yeah BTW Congrats on the feature. You deserve it, what a great post!

Jan 03, 2009 10:37 AM

Mark Organek

And the United States of America - Mesa, AZ

It's not a game, it's your life.

Lanette, you did the right thing by pointing out the shortcomings of Countrywide, Popular and People's First. They and others continue to damage the market with poor mitigation policies. Keep helping people the best that you can and continue to keep your light cheerful demeanor. Happy New Year!

Jan 03, 2009 11:43 AM

Justin Ukaoma

Vizion KC - Kansas City, MO

Kansas City Real Estate Investments

I'm with you. If feels like some people just want to sell their house becaue they heard the market was bad. Hello that doesn't make any sense. If you can afford to pay your mortgage then stay and pay.

Jan 03, 2009 12:15 PM

Mike Klijanowicz

Cummings & Co. Realtors - Perry Hall, MD

Associate Broker @ Cummings & Co. Realtors

You sure said it. IF YOU DON'T HAVE TO SELL RIGHT NOW, DON'T SELL!!!

Jan 03, 2009 01:26 PM

Gail Szeluga & JoAnna Siminerio

Coldwell Banker Realty - Manalapan/Marlboro - Manalapan, NJ

Fostering Community Spirit Through Real Estate

It can be emotionally draining.

Unfortunately, the vast majority of the people I have this conversation with cannot stay in their homes. They can no longer afford their payments and they can't refi which up until recently was how many, many families managed to stay in their homes. They would refi and use the extra equity to help pay their mortgages for another year or two. Build equity and refi again.With prices down, they can no longer borrow from Peter to pay Paul. It is sad, but in some cases, long overdue.

I wish we could just rip the bandaid the whole way off already!

Grea post and a very well deserved feature!

Jan 03, 2009 03:09 PM

Christine Donovan

Donovan Blatt Realty - Costa Mesa, CA

Broker/Attorney 714-319-9751 DRE01267479 - Costa M

HRC - unfortunately there seems to be a lot of that going around in the last many months.

Jan 03, 2009 04:13 PM

Brenda Harmon

Century 21 Beal, Inc College Station, Texas - College Station, TX

I am glad that we don't have to tell our sellers that here in Texas.

Jan 03, 2009 06:14 PM

Gabrielle Kamahele Rhind

KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ

Broker/Owner

MORNING LANETTE! So - I saw this bumper sticker the other day. It read, "I pretend to work. They pretend to pay me." Just about sums it up for me when I get these calls! --Gabrielle

Jan 04, 2009 10:59 PM

Crazy Shark Dude

Mako Property Management - Baltimore, MD

You say the word, I'll have my tenants go break some kneecaps.

Luv ya Lanette!

-CSD

Jan 05, 2009 12:55 PM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Lanette: You can't take this personally. You can't control the market. It's not your fault. Thank God these folks are still calling you. That's a HUGE sign of trust. Anytime you hear from a past client is a good thing.

Jan 07, 2009 03:42 AM