I have not written a blog in a long time. Part of the reason is this market has been so uncertain and has been uncertain for a long time. I was tired of being a whipping boy for some a**hole on Zillow to call out that I was just a salesperson waiting for my next mark. I want to feel genuine when I make a post and not feel I am misleading anyone. I have practiced good social media, passing on what I consider to be relevant Real Estate news and adding comments about our condition but have held back on a rant.......
I am so frickin ready....
Most of you who know me would consider me liberal. People that knew me 25 years ago would consider me a conservative. The truth is I am practical and realistic. I realize that there are some programs we have to pay for just because it would be too expensive not to. Yes they are infuriating but necessary. Sad truth. Is Real Estate an industry that needs MORE government interference?
Why???? It's so simple it's ridiculous! Real Estate is a just what it's name implies. Real, solid, tangible investment. No matter what the rate of homeownership is there will always be a solid number of homes! Will they be owned by the people that live in them? Not in all cases. That being said what is our indrustries cure?
1. Short Sales-- GET THEM DONE! The whole idea of a short sale is to save both parties money. The bank saves the money it would cost to foreclose and the homeowner gets out of a situation they can't handle. The banks need to smarten up and get them done in a timely manner. These properties could be earning money for the banks and other investors. PLEASE!!!! Put these properties to work! Make short sales a temporary solution, not a permanent condition!
2. Foreclosures--- Same deal. Get them done and recirculated!
3. Shadow Inventory--- CRIMINAL! Nothing but the manipulation of an already bad market. The banks need to put down their cards and let the market bear what it will. The shadow inventory is almost worse than actually flooding the market with low priced inventory. The UNCERTAINTY has become tangable because of a media that elevates the hype to tangible speculation!
4. Mortgages- Responsible LTV loans done with reasonable inquiries. Make sure people are paying what they owe and then move forward.
Simple.... put real tangible assets back to work for our economy! Stop holding up investment. If people aren't homeowners they are renters, FINE!
We tell people to stop paying their mortgage so they can qualify for a short sale?
We hold of foreclosure for months?
Think about it.....the only problem we have in Real Estate is the road blocks we have set up for ourselves.
The properties may be sold at less then the inflated value the bank put on it years ago and that is fine because we have already bailed the banks out.
I feel like Mel Gibson in Ransom, except it's not my son that's been kidnapped it's our market.
GIVE ME BACK MY MARKET!!!!!!