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WHAT A WEEK!

By Kathy Tyndall

Real Estate Agent with RE/MAX Estate Properties

October 03, 2008 06:39 PM

The week started with my stock broker calling to say I had taken a hit on my Fannie Mae stock. A BIG hit! (There goes the kitchen remodel I had planned.)

Then I hear the House defeated the bailout bill and the stock market plunges 777 points. (There goes the bath remodel I had planned + the annual family vacation + any hopes of retiring in the next 10 years). Meanwhile, the real estate business in my world comes to a screeching halt. There are NO new listings and no one is making offers on my listings. I have my fingers crossed that the bail out bill will be passed on Friday so my life might return to some semblance of normalcy. And, guess what? It passes! So what happens? The stock market drops AGAIN! At the rate I'm going, by next Monday, I will be living in my car.

Can't wait! (I hope I made the last payment on it!)

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sandy reid

Westwood Metes & Bounds - New Paltz, NY

period homes, second home market

OMG Kathy, I could have wrote this blog. Notice the time I am writing this blog, 3:41am Upstate New York Time. This has been a week of calamity and casualty. A deal that was ok a week ago is not ok this week due to revised regs in Fannie and Freddie. Clients that were "circulating the airport of real estate" and not landing are now totally off the radar screen. watching tv this week has left me angry and frustrated. I am referred to as the optimist in my office always trying to see the positive side of life but lately it's been tough. I always try to think, what is the lesson in the experience, this coming from a single parent who has no debt except for my mortgage and monthly electric, fuel etc.. I live a humble life as I never wanted to face the consequences of credit spending and yet here I am facing the consequences of credit. I don't know what the lesson is in this experience but I wanted you to know you are not alone from here in the Northeast.

Best,

Sandy

Oct 03, 2008 07:59 PM

Cameron Novak

The Homefinding Center - 1000 Palms, CA

Real Estate Broker since 2008

Did you happen to see that PORK FILLED excuse for a bailout bill? The dems in the senate have packed so many unrelated add-ons to the bill that everyone now sees the bill as something OTHER than what it was intended to be.

It was approved by almost 2 times the votes from the democrats than the republicans. After you review the bill and see where all the pork came from, you'll see why the vote shook out the way it did.

P.S. You're smarter than that Kathy!!! You and I both know that the stock market will be back stronger than ever in less than 12 months. It happens everytime there is a big stock market hit. EVERY TIME!

Oct 03, 2008 08:29 PM

Chip Jefferson

Gibbs Realty and Auction Company - Columbia, SC

It will be OK. I have some extra cardboard boxes in the garage. Its the big roomy thick ones. I even have some old tarps for waterproofing. We should be quite comfy!

Oct 03, 2008 10:48 PM

Melody Botting

Broker Associate PenFed Realty - San Antonio, TX

You Deserve The Best

You said a mouthful. Many people have taken a hit. A good friend of mine is retired and so is her husband. Needless to say, they are stressed. I feel fortunate that I am still young enough to work and make the money back. That is not true in many cases.

God Bless!

Oct 04, 2008 12:20 AM

Ellie McIntire

Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD

Luxury service in Central Maryland

I have not even taken a peek at my portfolio after this week. It may lead me to drink!.........more!

Oct 04, 2008 12:47 AM

Kathy Tyndall

RE/MAX Estate Properties - Rancho Palos Verdes, CA

EPRO Realtor

Ok. Here's my newest coping mechanism. I stay so busy all day long that I can't tune into CNN until I'm home at night. If I don't have an appointment, I take some kind of real estate related class or meet with other agents to network. Tomorrow, for example, I am going to see my very first house sale on the steps of the courthouse. Who knew that would be a job requirement for selling in upscale neighborhoods? I just can't think about all of the money running through my fingers with my investments going south while I buy the kid's meal at Pick Up Stix so I don't waste money. Ha! You've gotta love the irony. What really makes me crazy is thinking about all of the things I could have done with the money before it disappeared. Like Scarlett, I'll think about it tomorrow! Right now, I'm going to hide under the covers and think happy thoughts.

Oct 07, 2008 06:29 PM

WHAT A WEEK!

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