Experienced Realtors ONLY !?

By
Real Estate Agent with McCurdy & Company Realty BK490170

 

More and more people are paying their mortgages late, and  the number of mortgage foreclosures are sky rocketing.

Late mortgage payments are at the highest they've been in years with almost five percent of people behind on payments.

 Bankers say the reason for all the foreclosures is people with poor credit are not keeping up on payments on high-interest loans.

  
More foreclosures mean there is excess inventory, and with the current building boom in St Lucie County there is more competition in what's already a buyers' market. It makes Resales home owners look to more experienced Realtors to sell list homes people really want to sell. Pricing the property is a key factor in getting it sold.

Foreclosures are happening with all  homes, large and small. People are getting in over their heads and end up with mortgages they can't afford. Are we going to see the same thing that happened in Texas years ago with banks loosing their shirts as well as homes selling for 50% of the original cost?

There is more inventory from new construction and new foreclosures and the buyers aren't there. Our properties are sitting on the market longer and longer. We the Realtors must be very careful to inform our sellers either not to sell today or get the price where it should be to sell.

If you are a new Realtor do yourself a favor and turn down the impossible listings. Go for the people who really want to sell and do your CMA on SOLD homes not active over priced homes,.

 Lee Gerhard

RE/MAX Coastal Realty

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Rainmaker
193,954
Mary Strang
Viroqua, WI

The day's of thinking of a career in real estate are over... you can not take them overpriced and make a living. If you do you will get more calls from the seller than calls from buyers and that is no FUN.

Mar 20, 2007 01:57 AM #1
Rainer
68,941
Paul Anyanwu
RE/MAX SOLUTIONS - West Orange, NJ
CRS, SFR, Broker-Salesperson, Sales West Orange,NJ
I agree with you Ms Gerhard, the problem with predatory lenders have gotten out of control and it is going to screw up the economy as well as our business, great insight.
Mar 20, 2007 02:52 AM #2
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Rainer
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Laveta (Lee) Gerhard

Lee Gerhard is a House "SOLD" Name
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