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Joellen D. Chappell Broker I love reading that we are "terminal". The new vocabulary, the new way to attract clients, all the technology available from both sides has definitely changed the real estate business. And for the better. But what hasn't changed over the course of my very long career, is what the clients want. They want us to communicate well and often; whether by text, FB or email, they want us to be extremely knowledgeable; they want us to be there for them throughout the entire ordeal; they want to feel valued. What is "terminal" are the people in this industry that look at clients as a "commodity". They're not. They are real people with real needs that we are in a position to help. Judging success by the number of transactions a person does has always been the norm. But what success really is, is having the same client buy and sell homes with you over a 20 year time span. AND their kids coming to you to help with that first home purchase. THAT is success!
GREAT! Now our new crop of first time home buyers must compete with the cities as well as investors paying cash to purchase a home. The only silver lining in all of this was the affordibility issue. An FHA buyer, which is how most of the buyers are financing, does not stand a chance of getting an offer accepted when competing with the city and the cash investor buyer. The cities are NOT using this money to buy properties that need redevelopment, they are buying the same properties that a First Time Home Buyer would love to own. The tax money should be used to buy properties in the areas that desperately need redevelopment, on homes that are not qualified for financing because of their condition. Not homes in a high demand neighborhood that will sell within a week for more than the listed price if given the opportunity. Once again, they have missed the issue entirely and the benefit will be to someone other than the consumer. Joellen D. Chappell Broker
Rich - Are you kidding me? The whole purpose of a short sale is that the Bank is NOT going to receive the entire balance of the existing loan and fees. We have had much more success with short sales in the last quarter than all of last year. Persistence by the listing agent is a key ingredient. We have closed in as little as 35 days. A buyer and their agent can determine the market value of the home just as easily as the bank can and decide what is a good offer. Most people just want to own their own home, not "make a killing". If you are working with a listing agent that is not diligent, persistent and knowledgeable then you are not going to get anywhere. Same holds true if the seller is not cooperative and motivated to complete the short sale. Lots of variables, but the bottom line is: a professional Realtor has a good chance of accomplishing this for their seller. If by the "real estate industry" you are including the loan companies, loan agents, mortgage brokers, securities dealers, etc. then you're right. We did bring it on ourselves. Joellen Chappell, Broker jchappell@c21mm.com