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Am I the only one NOT angry that the June 30th deadline was not extended?

By
Real Estate Agent with |Key Realty | Maumee Toledo Real Estate Blog 2004001400

Am I disappointed, yes. But angry? NO!

Think about it folks, everyone - every single person - knew the deadline to close was June 30th, yet how many real estate agents, including myself, were contacted by buyers the LAST WEEK OF APRIL, who expected us to work 24/7, bust our butts, and come up with a miracle?

I made it expressly clear to those buyers that there were absolutely NO GUARANTEES that they would make any of the deadlines. I then had the talk with them about "do you want $8000 or do you want a home that you love at an affordable price?"

Many of my buyers opted for "a home that they love" and didn't just grab up anything for the instant gratification of $8000.

Will I lose money because of the vote? Absolutely. For now. But I will continue to work with my disappointed buyers and educate them as to the benefits of home ownership and the reasons why you should never buy a home without careful consideration and their own money in the bank.

I can remember when I bought my first home - in 1983. Interest rates were 18% and we lived on cans of chicken noodle soup most of the time so that we could suck away every spare sent for a down payment. We didn't have new clothes and fancy cars. But we did have down payment money.

Some of today's buyers want a home, but their priorities are flat screen TVs, every Wii game available, TWO fancy cars and all the other bells and whistles of today's lifestyle. What they need is some good old-fashioned chicken soup.

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Dee was born in Ohio and grew up on the North Coast in Oak Harbor. She was raised on the work ethic of the farmer and has always loved seeing the fruit of hard work. After taking a job as administrative assistant to a top Toledo Realtor, Dee was instantly hooked on the real estate profession.

She soon became licensed with a Toledo area real estate company and in only a few short years was a member of their President’s Club, Achiever’s Club, and an Ohio Association of Realtors President Club recipient in the most challenging market to ever hit real estate.

Dee Nofziger is a lifelong resident of Ohio, specifically the North Coast of Ohio, more commonly known as Toledo and Northwest Ohio. She serves the real estate needs of home owners and home buyers in Lucas, Wood, Fulton, and Ottawa Counties, among others. With nearly a decade of experience, Dee Nofziger is proudly licensed with Key Realty, Northwest Ohio's fastest growing independent real estate company. With professional relationships all over the country, Dee Nofziger is able to refer you to real estate professionals in your area who will make your home buying or selling experience the best you can imagine!

What are Dee’s hobbies? That’s easy … reading, writing, and real estate!

Dee is also known as author Didi O'Neil.

Use of any content from It's Raining Real Estate Blog or The Oxymoron Diaries without expressed permission of the owner is a violation of federal copyright laws.

 

 

Dorothy Tanno
ReMax Realty 9 - Jackson, NJ

Dee, I have clients who lost out because the banks took too long to approve the short sale, they've been under contract since last september.  Politicians bundle their wants with popular issues so they can pass them.  This issue should never have been put with the others.  I can't wait until Novermber!

Jun 27, 2010 03:36 AM
Carolyn Hoff
Coldwell Banker - Lakewood Ranch, FL

Agree that the deadlines were will documented.  The issue I currently have is that certain lenders are extremely over-whelmed and the 6/30 deadline is in danger because of their workload.  It would have been nice for this deadline to be extended to give the banks a bit more time.

Jun 27, 2010 03:36 AM
Wanda Thomas
Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN - Billings, MT
Billings Montana Real Estate

I agree with you Dee about the failure to save some money to make a home purchase.  We are middle aged homeowners who only have about 7 years to pay on our mortgage.  We don't have a big screen tv, we drive our good cars for 10 or more years, (some have been handed down to our kids, and they're still going).  We aren't cheap, but we are less expensive, and we have much less stress!

Jun 27, 2010 03:43 AM
German Panzica
Centerline Homes - Vero Beach, FL

I am glad it was not extended and hope it does not come back.  Just like you  I agree on getting the right home for your buyers and not just any house to pass and collect $8000.  Sales were down in May but soon the tax credit will become a thing of the past and we can all go back to good all fashion real estate.

Jun 27, 2010 03:47 AM
Dee Nofziger
|Key Realty | Maumee Toledo Real Estate Blog - Toledo, OH
Maumee Real Estate, Toledo Homes, Key Realty

Dorothy, I very much agree that all this "bundling" of issues is complete horse hockey. It wreaks of politics, both liberal and conservative. Regarding short sales offers, I made it clear to all of my buyers that I would not show them short sales until after the April 30th deadline had passed, as I knew virtually none would be done in time.

Carolyn, it still goes back to buyers waiting until the last minute to purchase. Plus bundling the  extension with other unpopular issues. If they had simply done a blanket extension stand alone bill, I might not have such issues, becasue you are right that the banks are overloaded.

Wanda, AMEN!

German, I soooo agree. Back to the basics of real estate. No more bells and whistles, more chicken soup.

 

Jun 27, 2010 04:18 AM