Deede Wockenfuss

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I agree with you whole-heartedly, Steve. Though I am trying to do less business at this point after 33 years, I have found that my friends, relatives and referrals call me back because of their trust that I will take care of them. I have been sending a friend automatic listings since last summer. Recently, he called me and said he saw one that he finally liked. Though it was over one hour from my office, I met him there with a complete workup about the property and it's neighborhood, it was an hour well spent. We wrote an offer electronically, it was accepted and we close escrow soon. For his loyalty and personal hard work locating a property, I am only accepting 1% of the 3% offered commission, and either rebating the 2% back to him, or towards closing costs, which ever he prefers. I have done business with this friend many times before and know that the transaction will go quickly and smoothly. To me, this was an easy 1% to receive, and the referrals he provides to me are priceless. I am now the Broker of my own company, work via a virtual office and my life is MUCH more manageable. Being flexible on fees shows true concern for the best interests of the buyer without hurting your bottom line. My expenses are much less than the big boys, I collect all of the commission, so have the luxury of sharing it with buyers (or sellers) who make my life easier. Deede Wockenfuss, Broker CybrSold Concepts A Frugal Virtual Real Estate Company 480-248-9500 http://www.CybrSold.Com

Deede Wockenfuss CybrSold Concepts A Frugal Virtual Real Estate Company 480-248-9500 http://www.CybrSold.Com My hair stands on end when I see companies such a Google taking their mass and dumping it into the real estate industry. Please tell me how the real estate industry will not lose billions by consumers having access to show the masses that their home is for sale? Pretty soon, computers will be doing it ALL and there will be no way for US to make an income. This is happening in dozens of large industries, where a click on the computer for FREE gets the consumer what USED to pay an income to an American. Maybe I am going overboard with my fears, but right now the banks are completely in control of the real estate market (at least in AZ) and computer based business seem to be taking over the rest. Where do we fit in?

I have personally come to NOT trust any banks due to some of the horrors we have experienced in the past couple of years. I can honestly say that all of my old, trusted lenders are either out of business or work for an institution that makes making loans almost impossible. As an example, we had a buyer 'pre-approved' for his mortgage loan with XYZ bank. He was purchasing a short sale I have listed. The short sale lender approved the short sale pretty quickly, so we assumed that we would close per the contract at the end of June. The lender requested an additional week, which we gave him. But, around the 4th of July, he stopped returning our calls. The selling agent went to his place of business on Monday and sat in front of him to get the real story. He says he can definately close the loan, but that he needs another 10 days. WHY? Because, banks are changing the rules for qualifying for mortgages on a daily basis. A letter of pre-approval may not be valid in 30 days. Meanwhile, money is spent by the buyer, seller, and agents to make repairs, pay for inspections and appraisals. All of this is done is good faith, as the buyer has PRE-APPROVAL. When something goes wrong at the last minute because of lenders further tightening up their qualifications, all of these people get stuck with the bill and agents, title offices and some repairmen, never get paid. In this case, the foreclosure is looming on the property and the short sale bank has threatened to 'move up' the foreclosure if this buyer does not close. Someone please tell me why lenders gave absolutely ANYONE a no money down loan a few years ago when prices were double what they are today, but tighten their standards when the prices are finally right and buyers can afford the loans? Chances are much better today than 3 years ago, that today's loans won't go bad. Why? Because the prices are low, the rates are low and no one wants to make these mistakes again. If we are really flirting with the 'bottom' of the market, isn't NOW the best time to take a risk on a loan? These banks continually throw out the baby with the bath water. Until they fully understand and accept that they MUST make loans to stay in business, they will continue to drive our country down the financial toilet. Deede Wockenfuss CybrSold Concepts A Frugal Virtual Real Estate Company 480-248-9500 http://www.CybrSold.Com