First blog for me. I know, I know - should have done it long ago. Just recently understood the reasoning for it.
I've been selling Central Arkansas Real Estate since 1995. Of course I was lucky enough to have ridden the wave of good times. It's hard for us gen-Xrs to really understand when more seasoned agents tell us about the "good ole days" when the rates were 17-18, up to 20 plus percent. Most of us were still in High School then, but I remember mom and dad trying to decide on the home they wanted and being very disappointed in the payments even though they paid 3 discount points, the rate was still sky high.
Arkansas Real Estate is not immune to the problems of this economy. Although sometimes it's nice not to be in the volatile coastal areas or the bigger markets. Our home values in Central Arkansas have held their own, even though we have slipped some. I fell blessed to be a real estate professional that is still able to make a living.
I know this sounds callous, but most agents that have been in this business over ten years would agree with me when I say that there is a silver lining to these clouds. Reform in quasi govt. behemoths, Freddie and Fannie, exposure to bad lending practices, and culling of the folks that were never going to be solid, service oriented real estate agents and mortgage brokers in the first place who just wanted to make an easy buck. It's not so easy now, so maybe we can have a return to things like service, and true fiduciary representation of our clients, thorough product knowledge and keeping the customers needs at the forefront of our professions.
Okay. I'm off my soap box, and I know I'm "preaching to the choir", but it does feel good to have a forum to release your inner feelings. Who knows? On my second blog, I just might jump into religion and politics! ;)
Take care and God bless,
The Central Arkansas Real Estate Guy
Mitchell Mote CRS, Executive Broker
Weichert Realtors, Pat Mote Properties