A few days ago, I looked up from my desk to see a lovely young woman standing at the doorway to my office. She was "picking up a couple of subs" from a favorite food establishment next door to us in our plaza. She said that her father had died in the recent past and she was "just curious" about the place she had called home years ago now that she heard it was on the market.
Many folks share the belief that nothing is left to chance, and this young woman whose father, along with her mother, had taken such good care of her, continued to talk as I searched for an answer for her. The house was no where to be found on the Multiple Listing Service even though she thought that one of "our signs" was in the front yard.
As I continued to look for the property, we began talking about her father, her husband and her children. She said that she was renting, But that someday she and her husband hoped to have a home of their own so that heir children could decorate their very own rooms as they wished, and that they would have their own land on which to play. She said that certain lenders "would not give her the time of day", so that her husband and she had given up on the idea of homeownership until some day in the distant future.
It was the end of the day and our senior in-house loan officer was getting ready to go home to his own family. When he waved good bye, I asked him to come in and meet this young and hard working mother. I told him that she had been led to believe that she and her family could not own their own home at this time in their lives. Moreover, no one had offered to help them prepare for home ownership financing.
The subs would likely have to be reheated, but this young woman was being shown the road that leads to homeownership. It is every person's right to the American dream and it starts by asking "how".
Whether you or someone you know has reason to believe that home ownership is not possible, think again. Lenders simply want to know that buyers will pay them back. Toward that end, there are guidelines and programs in place to minimize the lenders' risks. If a buyer does not meet the criteria today, that buyer can start immediately learning from the professionals who commit to teaching and counseling them right to the closing table. Many professionals regard this vital service as an integral component of our business and as such, the teaching and counseling assistance is complementary. Our mortgage broker spoke with our young guest and they planned to meet the next day. Before I left the office, I looked one last time for the address she had given me. Nothing turned up.
The next day this young lady sat in our conference room with our mortgage broker and I could see through the glass doors that her big eyes were getting wider. When she jumped up beaming and wrapping her own arms around herself, I opened the doors to learn that in fact, she and her family would be living in their own tome sooner than they thought.
We will be “shopping” starting this very week for the back yard where the children can have their own swing set. She has a pre-approval letter in her hand.
It is absolutely critical that new home owners get the education they need to make such enormous decisions that will have great impact on the economic and general welfare of the family. Make no mistake about it. Realtors and mortgage brokers are in the Dream Business, no matter how complicated the forms, laws, rules and regulations may appear, and dreams do come true.
Before she left our office, our soon to be homeowner hugged us. We hugged her right back. I still can't find her old family home anywhere on the market and I don't know what "sign" may have been in the yard where she used to play with her father. I do know that if you read the "signs" along the way, there is very little left to "chance".
Tuesday, December 30, 2008
Friday, November 21, 2008
SO WHAT IF IT’S HALF EMPTY…FILL IT UP…
Two weeks ago the news reported that a number of large companies had filed for bankruptcy, but today another hard working American couple is closing on the home of their dreams without complication.
Last week the papers printed that the initial “bail out” would not be enough to stimulate the economy, but another hard working American family obtained the financing they needed for a larger home to accommodate their needs.
Two nights ago the evening news reported that the housing industry “slump” continued to plague homeowners, but we Realtors who work directly with sellers and buyers continue to bring folks together. We are reducing the inventory that historically slows the market, and both the government and the banks recognize that they must not permit another million foreclosures to add to that inventory. Toward that end, they are taking the necessary steps to avoid that additional complication. I know that the outcome will be successful not despite our American way of life, but because of our American way of life.
While we continue to teach the world how to turn challenges into opportunities, our strength and generosity of spirit springs from our free society that is bought and paid for by our military.
Recently, a young Veteran graced our office with his presence. He had served his country well and since his return, he had been renting nearby. He had never owned his own home in the country he had protected with his life. He wondered aloud if he ever would now, given the “news” of our economy. His question begs another…, “if not our precious Veteran, then who?”
After listening to his aspirations, one of our Realtors took him to the home of his dreams. As of this writing, one of America’s finest will likely be sitting in front of his own fireplace before the first snowfall.
Everything and anything can and will happen in America. We remain the greatest experiment in the history of the world and no matter when, how or why we stumble, we rise up stronger for the struggle and the whole world knows it.
Every single property sells at the right price and time. For some sellers, there will be no profit, but rather a mitigation of damages. Over the past few years, whole regions of the country have realized the collective loss of 20% of housing equity. A myriad of increasingly common catch phrases have become all too familiar to Realtors. “This is not a fire sale.” “We’re not going to give it away.” “I’ve already reduced the price too much.” “That offer is insulting.” “But I NEED to get…”
For many sellers the home selling and the home buying experience will be a wash as all values reduce or increase across the board. For many buyers, you will still be purchasing properties at fair market prices. You will not be financed for more than the property is worth and you can take that fact to the bank. Some of you will tell your friends that you “Got a steal.” Some of you will be right. At the end of the day, however, we Realtors will have MOVED THIS INVENTORY thereby unclogging the economic pipe.
Based on our front row seat and our expert opinion, our best advice to our family, friends and clients is to avoid negativity at all costs. Change the channel. Roll up doom and gloom papers for kindling. Listen to music that makes you feel good. CHOOSE to view the glass as FULL and it will overflow.
You live where the whole world wants to be. If you own a piece of this magnificent rock, do whatever you can to hold onto it. If you can not hold on to it at this time, know that these times are changing even as I write about them and you will own another piece of the rock again. The banks are not going away. The houses are not falling into the earth. The circumstances today are fluid and they will change as do our seasons.
While our precious young Veteran puts another log on his very own fire, find your own Veteran and from the bottom of your grateful heart, wish him or her what we here at REMAX Country Crossroads wish everyone of you…….a very HAPPY THANKSGIVING.
PS. In answer to readers’ questions from my article 2 weeks ago about the energy producing mansion, its owners and their company, with their permission, they are Ralph and Stacey Sevinor of Wayne Alarm, 781-595-0000.
Last week the papers printed that the initial “bail out” would not be enough to stimulate the economy, but another hard working American family obtained the financing they needed for a larger home to accommodate their needs.
Two nights ago the evening news reported that the housing industry “slump” continued to plague homeowners, but we Realtors who work directly with sellers and buyers continue to bring folks together. We are reducing the inventory that historically slows the market, and both the government and the banks recognize that they must not permit another million foreclosures to add to that inventory. Toward that end, they are taking the necessary steps to avoid that additional complication. I know that the outcome will be successful not despite our American way of life, but because of our American way of life.
While we continue to teach the world how to turn challenges into opportunities, our strength and generosity of spirit springs from our free society that is bought and paid for by our military.
Recently, a young Veteran graced our office with his presence. He had served his country well and since his return, he had been renting nearby. He had never owned his own home in the country he had protected with his life. He wondered aloud if he ever would now, given the “news” of our economy. His question begs another…, “if not our precious Veteran, then who?”
After listening to his aspirations, one of our Realtors took him to the home of his dreams. As of this writing, one of America’s finest will likely be sitting in front of his own fireplace before the first snowfall.
Everything and anything can and will happen in America. We remain the greatest experiment in the history of the world and no matter when, how or why we stumble, we rise up stronger for the struggle and the whole world knows it.
Every single property sells at the right price and time. For some sellers, there will be no profit, but rather a mitigation of damages. Over the past few years, whole regions of the country have realized the collective loss of 20% of housing equity. A myriad of increasingly common catch phrases have become all too familiar to Realtors. “This is not a fire sale.” “We’re not going to give it away.” “I’ve already reduced the price too much.” “That offer is insulting.” “But I NEED to get…”
For many sellers the home selling and the home buying experience will be a wash as all values reduce or increase across the board. For many buyers, you will still be purchasing properties at fair market prices. You will not be financed for more than the property is worth and you can take that fact to the bank. Some of you will tell your friends that you “Got a steal.” Some of you will be right. At the end of the day, however, we Realtors will have MOVED THIS INVENTORY thereby unclogging the economic pipe.
Based on our front row seat and our expert opinion, our best advice to our family, friends and clients is to avoid negativity at all costs. Change the channel. Roll up doom and gloom papers for kindling. Listen to music that makes you feel good. CHOOSE to view the glass as FULL and it will overflow.
You live where the whole world wants to be. If you own a piece of this magnificent rock, do whatever you can to hold onto it. If you can not hold on to it at this time, know that these times are changing even as I write about them and you will own another piece of the rock again. The banks are not going away. The houses are not falling into the earth. The circumstances today are fluid and they will change as do our seasons.
While our precious young Veteran puts another log on his very own fire, find your own Veteran and from the bottom of your grateful heart, wish him or her what we here at REMAX Country Crossroads wish everyone of you…….a very HAPPY THANKSGIVING.
PS. In answer to readers’ questions from my article 2 weeks ago about the energy producing mansion, its owners and their company, with their permission, they are Ralph and Stacey Sevinor of Wayne Alarm, 781-595-0000.
PAY NO ATTENTION TO DWEEBS…..
Media hype sells to some of the folks some of the time, but propaganda does not rule the day with all of the folks all of the time. I recently attended a huge company seminar at Gillette Stadium in Foxboro where the giants in our real estate industry flew in to address us New England Realtors and Broker Owners on market perspective. They came all this way in order to dispel some of the annoying myths and rumors that may sell papers, but frighten consumers.
One of the executives is in charge of all company franchises in Canada; another is in charge of our franchises in 69 other countries all over the world. These two men who have lived through several “down markets” over a thirty year period offer an amazing world perspective that is most instructive to those of us in the business. In my opinion, it is our business to share it with you and it comes from the top of the real estate world.
When the executives arrived at Logan Airport, the morning headlines in a major newspaper fresh off the press read in large bold letters “Housing BAILOUT”. Another headline read “Real Estate-Economic Disaster”. In tiny print on page 27, however, they found evidence of what they knew… “Housing market up 7.4%”.
In Europe, the rules and regulations as well as the practice of real estate is vastly different from our real estate industry in the USA and Canada. We know, for example, that when we put our photos on our yard signs and marketing, that the consumer will take notice more so than when we do not. In Europe and other countries outside North America, the men in the real estate industry tell women NOT to put their photos on their signs for “safety” reasons. It is no coincidence that the men as a rule have more real estate business than the women in these other countries.
In the USA and Canada, we are licensed as agents, Realtors and Brokers. In Europe and other countries, there is no licensing requirement. In the USA and Canada, we do more financing of property. In Europe and other countries, “cash is king”. In the USA and Canada, we require that clear title be passed from the seller to the buyer. In Europe and other countries, the title can be “foggy” as a result of the wartime deaths and displacement of 45 million deeds. One can never be sure that his title is secure. In the USA and Canada we practice “exclusive listings” whereby the seller contracts with one Realtor to market the home for sale to everyone. In Europe and other countries, they practice “open listings” that result in a free for all with no true representation of the seller.
Europe and other countries are now experiencing far more difficulties than we are today in the USA and Canada in large part due to a system that does not lend itself to clarity. The economic crisis is worldwide. It will not be resolved until the housing crisis is resolved. The housing crisis will be resolved only when the inventory on the market is reduced. The market inventory is reduced by selling the homes. The homes ARE selling despite what these annoying little dweebs are “reporting”.
What would hamper the recovery would be the “dumping” of more bank owned properties (REO’s) onto the market thereby increasing the inventory and diminishing the value of all properties even further.
As a result of lawsuits against a major lending institution, a major bank announced a strategy that would keep millions of families in their homes by lowering the interest rates, reducing principle, and forgiving penalties. If this strategy is adopted by other lenders, the housing crisis will not be exacerbated by the millions of foreclosures that would follow were these measures not employed.
If you are threatened by foreclosure, you may find yourselves in a better place if you qualify for the loan modification. If you are a homeowner who struggles to pay down your debt and you do not qualify for such a program, you may be understandably resentful and frustrated. Know, however, that if your neighbor’s home forecloses, it will directly impact the value of your home and the housing crisis will proliferate if we can not keep these foreclosures to a minimum.
Presently, because we must at all costs avoid growing inventories that slash and burn our home values and equity, the whole world has turned to the Realtors and implores us to “SELL THESE PROPERTIES.” As a Realtor, I turn to you and say “WHEN WE PRICE THEM CORRECTLY, THEY ALWAYS DO.” Just don’t look for it on the front page of most media.
One of the executives is in charge of all company franchises in Canada; another is in charge of our franchises in 69 other countries all over the world. These two men who have lived through several “down markets” over a thirty year period offer an amazing world perspective that is most instructive to those of us in the business. In my opinion, it is our business to share it with you and it comes from the top of the real estate world.
When the executives arrived at Logan Airport, the morning headlines in a major newspaper fresh off the press read in large bold letters “Housing BAILOUT”. Another headline read “Real Estate-Economic Disaster”. In tiny print on page 27, however, they found evidence of what they knew… “Housing market up 7.4%”.
In Europe, the rules and regulations as well as the practice of real estate is vastly different from our real estate industry in the USA and Canada. We know, for example, that when we put our photos on our yard signs and marketing, that the consumer will take notice more so than when we do not. In Europe and other countries outside North America, the men in the real estate industry tell women NOT to put their photos on their signs for “safety” reasons. It is no coincidence that the men as a rule have more real estate business than the women in these other countries.
In the USA and Canada, we are licensed as agents, Realtors and Brokers. In Europe and other countries, there is no licensing requirement. In the USA and Canada, we do more financing of property. In Europe and other countries, “cash is king”. In the USA and Canada, we require that clear title be passed from the seller to the buyer. In Europe and other countries, the title can be “foggy” as a result of the wartime deaths and displacement of 45 million deeds. One can never be sure that his title is secure. In the USA and Canada we practice “exclusive listings” whereby the seller contracts with one Realtor to market the home for sale to everyone. In Europe and other countries, they practice “open listings” that result in a free for all with no true representation of the seller.
Europe and other countries are now experiencing far more difficulties than we are today in the USA and Canada in large part due to a system that does not lend itself to clarity. The economic crisis is worldwide. It will not be resolved until the housing crisis is resolved. The housing crisis will be resolved only when the inventory on the market is reduced. The market inventory is reduced by selling the homes. The homes ARE selling despite what these annoying little dweebs are “reporting”.
What would hamper the recovery would be the “dumping” of more bank owned properties (REO’s) onto the market thereby increasing the inventory and diminishing the value of all properties even further.
As a result of lawsuits against a major lending institution, a major bank announced a strategy that would keep millions of families in their homes by lowering the interest rates, reducing principle, and forgiving penalties. If this strategy is adopted by other lenders, the housing crisis will not be exacerbated by the millions of foreclosures that would follow were these measures not employed.
If you are threatened by foreclosure, you may find yourselves in a better place if you qualify for the loan modification. If you are a homeowner who struggles to pay down your debt and you do not qualify for such a program, you may be understandably resentful and frustrated. Know, however, that if your neighbor’s home forecloses, it will directly impact the value of your home and the housing crisis will proliferate if we can not keep these foreclosures to a minimum.
Presently, because we must at all costs avoid growing inventories that slash and burn our home values and equity, the whole world has turned to the Realtors and implores us to “SELL THESE PROPERTIES.” As a Realtor, I turn to you and say “WHEN WE PRICE THEM CORRECTLY, THEY ALWAYS DO.” Just don’t look for it on the front page of most media.
“Kwitcherbellyaching”
“Kwitcherbellyaching!” That’s what I heard for much of my youth from parents who had suffered and worked harder than most of the generation they produced. There was plenty of life between “Kwitcherbellyaching” and “Use your head for something besides a hat rack.” That life was chock full of love, laughter, tears and a strong work ethic. It was rooted in family who passed through Ellis Island and suffered fools badly. There is a common thread that runs through families like my own, although it seems a bit harder to find on the news these days. I wonder what has happened to personal accountability.
I sat glued to the news this week as hundreds of politicians, industry captains and economy experts offered opinions about the state of our economy and country. I heard frightening words. I saw panicked expressions. I watched hands in the air and fingers pointing across party lines. I listened with a Realtor’s ear as I heard one accounting after the other of how we “ended up” like this with the housing market and that we “ABSOLUTELY HAVE TO BAILOUT THIS INSTANT” to survive as a nation. I then heard somewhere within my “hat rack”……nearly unperceivable, but definitely thick with a familiar old brogue…… “Kwitcherbellyaching!”
The ability to obtain financing for housing has always been inextricably linked to one’s ability to pay. The process of lending responsibly is central to safeguarding the American dream for those who have worked hard enough to achieve it.
Within the past recent years, however, two things happened. First, a “Ponzi” scheme developed whereby if a consumer had a pulse, he was granted money that he would never be able to repay. Certain “Ponzi” conspirators who are responsible for this abomination made a lot of money from bad loans. Secondly, too many Americans who have a duty to protect all Americans did not “use their heads for something besides a hat rack.”
We Realtors are not in the business of housing just anybody. We house Americans who have more opportunity to realize dreams in the most extraordinary “experiment” in the history of the world we call the Constitution of the United States of America. We walk Americans up the steps to their first homes. We open the doors to second and third homes as the family dynamic changes over years of working hard to advance through the housing market in America.
Our democracy based on capitalism works and it works like a charm in the housing market. If you want to own a home, work hard, save as much as you can and pay your bills on time. If you want to own a bigger home, work harder, save more and pay your bills early. Following that age old philosophy will put you on the road that leads you to the bank, to me and to your own new front door.
Those who would conspire and collude to take from those who have to give to those who have not would fair better somewhere else in the world with a society that does not encourage and reward hard work.
The housing market has reacted normally to the bacteria with which it has been infected. What we have witnessed is not the “bursting of a bubble”. We are seeing first hand the draining of a purulent boil. As one who has practiced in both the healthcare field and the real estate industry, I know that the healing starts when the puss has been drained and the wound is cleaned.
Even as I write, the banks will not give money to anyone unless they have demonstrated even more carefully than ever that they can pay it back. As a Realtor, I know that the festering boil is over and that is a good thing for my business and for my country. There will never be a property that can not be sold and there will never be a bank that can not lend to a buyer who is qualified to buy that property, so “Kwitcherbellyaching” and “Use your head for something besides a hat rack.”
I sat glued to the news this week as hundreds of politicians, industry captains and economy experts offered opinions about the state of our economy and country. I heard frightening words. I saw panicked expressions. I watched hands in the air and fingers pointing across party lines. I listened with a Realtor’s ear as I heard one accounting after the other of how we “ended up” like this with the housing market and that we “ABSOLUTELY HAVE TO BAILOUT THIS INSTANT” to survive as a nation. I then heard somewhere within my “hat rack”……nearly unperceivable, but definitely thick with a familiar old brogue…… “Kwitcherbellyaching!”
The ability to obtain financing for housing has always been inextricably linked to one’s ability to pay. The process of lending responsibly is central to safeguarding the American dream for those who have worked hard enough to achieve it.
Within the past recent years, however, two things happened. First, a “Ponzi” scheme developed whereby if a consumer had a pulse, he was granted money that he would never be able to repay. Certain “Ponzi” conspirators who are responsible for this abomination made a lot of money from bad loans. Secondly, too many Americans who have a duty to protect all Americans did not “use their heads for something besides a hat rack.”
We Realtors are not in the business of housing just anybody. We house Americans who have more opportunity to realize dreams in the most extraordinary “experiment” in the history of the world we call the Constitution of the United States of America. We walk Americans up the steps to their first homes. We open the doors to second and third homes as the family dynamic changes over years of working hard to advance through the housing market in America.
Our democracy based on capitalism works and it works like a charm in the housing market. If you want to own a home, work hard, save as much as you can and pay your bills on time. If you want to own a bigger home, work harder, save more and pay your bills early. Following that age old philosophy will put you on the road that leads you to the bank, to me and to your own new front door.
Those who would conspire and collude to take from those who have to give to those who have not would fair better somewhere else in the world with a society that does not encourage and reward hard work.
The housing market has reacted normally to the bacteria with which it has been infected. What we have witnessed is not the “bursting of a bubble”. We are seeing first hand the draining of a purulent boil. As one who has practiced in both the healthcare field and the real estate industry, I know that the healing starts when the puss has been drained and the wound is cleaned.
Even as I write, the banks will not give money to anyone unless they have demonstrated even more carefully than ever that they can pay it back. As a Realtor, I know that the festering boil is over and that is a good thing for my business and for my country. There will never be a property that can not be sold and there will never be a bank that can not lend to a buyer who is qualified to buy that property, so “Kwitcherbellyaching” and “Use your head for something besides a hat rack.”
ARE THE BANKS DOING ENOUGH??
One of the largest and most beautiful homes in Rowley is located in the most desirable location of this precious town. About one year ago the owners called me and asked that I assist them in the sale of their most valuable asset .Their many children had filled the rooms with love and laughter for most of the several years they had lived in the home that they built, but the laughter stopped when an impossible interest only second loan came due and the value of their property plummeted as the rate rose.
Several Real Estate agents before me had tried to sell the property, but the market was dropping at a faster rate than the home was reducing in asking price. It languished on the market as a result until it grew cold as over priced properties always do.
By the time I listed the property, the banks were closing in on a family whose credit had been pristine throughout their lives. They were now facing bankruptcy and foreclosure with a home full of children and an elderly family member. The large family found themselves with no where to go.
While the property remained on the downsizing market, another family had visited the home, loved it, and had been monitoring the price. They hoped against hope that the property would reduce to within their price range. It did. This family, who also had several small children, put their home on the market for the sole purpose of purchasing the big beautiful home they loved. They priced their home for less than they had hoped to realize, but they knew they would have to price aggressively to sell it in order to move on to the home of their dreams. Their strategy worked. Ecstatic, they began packing for a closing the following month.
In order to pass ownership of a property from one family to another, there must be clear title, that is, no liens or other claims may exist on the property. When there are two mortgages (liens), there are often two different banks involved and each bank must release the lien it holds on the property. If the lien is not voluntarily released, it is either paid in full, or the bank agrees to accept a lower payout. The lower price agreement is called “short sale”.
Although both families were represented by competent Realtors, and Attorneys, all parties and professionals were caught in the sticky web between huge banks whose combined liens exceeded the value of the home by close to a quarter million dollars. After countless communications with the second bank whose lien had been discharged by the Bankruptcy Court, the sellers, Realtor and closing Attorney had all been told by the “decision maker” that the releasing of the lien had “passed all levels of approval” and the last approval, from the “investor” should be “emailed by 5pm.” It never came.
Months of impossible complications with the banks passed as both families moved into rentals with the hardship and disappointment that was palpable within the walls. The second bank “decision maker” could not find the file and none of the many bank representatives including management personnel could recall the representations made to the family, the Realtor or the Attorney. Moreover, the bank itself was “downsizing” and hundreds of employees were “let go”.
The heartbroken family whose purchase of the big home would have saved the other devastated family from foreclosure and further damage to their credit had no choice but to withdraw from the transaction.
Almost half a year had passed since the time when two banks could have agreed to a plan whereby everyone would have benefited had everyone given something to make it work for all.
As I write, the aggrieved seller, Mother of five, with an indomitable spirit, responded to an ad about foreclosures that she saw from one of our Senator’s Office this week. She hopes that by sharing the financial and emotional nightmare that she experienced first hand with bank incompetence and indifference, another family may fair better than hers.
After hearing her story, the Senator’s Office called for the file on this big and beautiful Rowley home. He will not like what he sees has happened to these two lovely families for no good reason. As difficult as it has been to witness such indifference to the clients we grow so close to, I would much rather be the Realtor than the bank right now. This young Mother is a force to be reckoned with and the Senator’s Office, I suspect, is a mere starting point.
Several Real Estate agents before me had tried to sell the property, but the market was dropping at a faster rate than the home was reducing in asking price. It languished on the market as a result until it grew cold as over priced properties always do.
By the time I listed the property, the banks were closing in on a family whose credit had been pristine throughout their lives. They were now facing bankruptcy and foreclosure with a home full of children and an elderly family member. The large family found themselves with no where to go.
While the property remained on the downsizing market, another family had visited the home, loved it, and had been monitoring the price. They hoped against hope that the property would reduce to within their price range. It did. This family, who also had several small children, put their home on the market for the sole purpose of purchasing the big beautiful home they loved. They priced their home for less than they had hoped to realize, but they knew they would have to price aggressively to sell it in order to move on to the home of their dreams. Their strategy worked. Ecstatic, they began packing for a closing the following month.
In order to pass ownership of a property from one family to another, there must be clear title, that is, no liens or other claims may exist on the property. When there are two mortgages (liens), there are often two different banks involved and each bank must release the lien it holds on the property. If the lien is not voluntarily released, it is either paid in full, or the bank agrees to accept a lower payout. The lower price agreement is called “short sale”.
Although both families were represented by competent Realtors, and Attorneys, all parties and professionals were caught in the sticky web between huge banks whose combined liens exceeded the value of the home by close to a quarter million dollars. After countless communications with the second bank whose lien had been discharged by the Bankruptcy Court, the sellers, Realtor and closing Attorney had all been told by the “decision maker” that the releasing of the lien had “passed all levels of approval” and the last approval, from the “investor” should be “emailed by 5pm.” It never came.
Months of impossible complications with the banks passed as both families moved into rentals with the hardship and disappointment that was palpable within the walls. The second bank “decision maker” could not find the file and none of the many bank representatives including management personnel could recall the representations made to the family, the Realtor or the Attorney. Moreover, the bank itself was “downsizing” and hundreds of employees were “let go”.
The heartbroken family whose purchase of the big home would have saved the other devastated family from foreclosure and further damage to their credit had no choice but to withdraw from the transaction.
Almost half a year had passed since the time when two banks could have agreed to a plan whereby everyone would have benefited had everyone given something to make it work for all.
As I write, the aggrieved seller, Mother of five, with an indomitable spirit, responded to an ad about foreclosures that she saw from one of our Senator’s Office this week. She hopes that by sharing the financial and emotional nightmare that she experienced first hand with bank incompetence and indifference, another family may fair better than hers.
After hearing her story, the Senator’s Office called for the file on this big and beautiful Rowley home. He will not like what he sees has happened to these two lovely families for no good reason. As difficult as it has been to witness such indifference to the clients we grow so close to, I would much rather be the Realtor than the bank right now. This young Mother is a force to be reckoned with and the Senator’s Office, I suspect, is a mere starting point.
HURRICANES AND YOU
Like airplanes following one after the other, the season’s hurricanes are coming in for landings. When those storms beat their angry wet fists on New England homes, the damage and turmoil can be frightening and heartbreaking. There are many things we can not control, but let’s take a look at what we can do for our families and our homes to prepare for these events. Many of the following suggestions derive from FEMA and www.ready.gov.
The Saffir-Simpson Hurricane Scale classifies huricanes into 5 Categories (#5 being the worst) according to their central pressure, wind speed and the potential for damage.
Generally, we here in New England do not experience the Category Three and higher storms, but the Category Ones and Twos are dangerous enough with wind speeds up to 110 MPH. Such sustained winds damage mobile homes, roofs, vegetation, signs (PROTECT ALL REMAX COUNTRY CROSSROADS SIGNS AT ALL TIMES), small crafts and cause flooding from torrential rains.
TIPS FOR PREPARING YOUR HOME:
To prevent broken glass, cover your windows with plywood. (Tape does not prevent windows from breaking) Stay indoors and away from windows and glass doors. Close all interior doors and secure outside doors. Do not leave any outside objects untethered as they could be propelled through the air by the winds. Trim trees and shrubs well to guard against breakage, falling limbs and damage. Clear loose and clogged rain gutters and downspouts. Turn the refrigerator to its coldest setting and keep the door closed. Turn off propane tanks. Fill large containers and/or the bathtub with a supply of water for sanitary use such as flushing toilets and cleaning.
TIPS FOR PREPARING EMERGENCY SUPPLY KITS:
Include non-perishable food, water, a battery powered radio, maps, extra flashlights and batteries. The kit should include copies of prescription medications and medical supplies as well as bedding, clothing, sleeping bags and pillows. In areas where the major storms cause such severe damage, residents are urged to make copies of important documents like social security cards, driver’s license, wills, deeds, birth, and marriage certificates as well as proof of residence and tax records. Pet supplies and prescriptions as well as unique family supplies such as infant formulas belong in such emergency kits.
TIPS FOR FAMILY/FRIENDS PLAN:
Have a plan in place for how you will make contact and get back together with your family and/or friends should an emergency event occur. Cell towers can be compromised during storms, so establish agreed upon places both inside and outside your immediate neighborhood where you will meet. Agree upon a central phone contact number. An out of town long distance contact may be in a better position to communicate among separated parties than one who is at a phone number right across the street. Identify several places you could go such as a friend’s home, Keep at least a half tank of gas in your car at all times. Take your emergency kit with you.
We are superbly lucky to be living in New England where the seasons afford us the spectacular colors and climate changes that keep us energized and our beautiful surroundings the envy of those who can only visit. It is most sobering, however, to see the news coverage of hurricane damage suffered by others a thousand miles away and look around our own New England homes one more time before we retire for the night.
Stay safe and be prepared this season. Know who and what you will cling to when the winds blow.
The Saffir-Simpson Hurricane Scale classifies huricanes into 5 Categories (#5 being the worst) according to their central pressure, wind speed and the potential for damage.
Generally, we here in New England do not experience the Category Three and higher storms, but the Category Ones and Twos are dangerous enough with wind speeds up to 110 MPH. Such sustained winds damage mobile homes, roofs, vegetation, signs (PROTECT ALL REMAX COUNTRY CROSSROADS SIGNS AT ALL TIMES), small crafts and cause flooding from torrential rains.
TIPS FOR PREPARING YOUR HOME:
To prevent broken glass, cover your windows with plywood. (Tape does not prevent windows from breaking) Stay indoors and away from windows and glass doors. Close all interior doors and secure outside doors. Do not leave any outside objects untethered as they could be propelled through the air by the winds. Trim trees and shrubs well to guard against breakage, falling limbs and damage. Clear loose and clogged rain gutters and downspouts. Turn the refrigerator to its coldest setting and keep the door closed. Turn off propane tanks. Fill large containers and/or the bathtub with a supply of water for sanitary use such as flushing toilets and cleaning.
TIPS FOR PREPARING EMERGENCY SUPPLY KITS:
Include non-perishable food, water, a battery powered radio, maps, extra flashlights and batteries. The kit should include copies of prescription medications and medical supplies as well as bedding, clothing, sleeping bags and pillows. In areas where the major storms cause such severe damage, residents are urged to make copies of important documents like social security cards, driver’s license, wills, deeds, birth, and marriage certificates as well as proof of residence and tax records. Pet supplies and prescriptions as well as unique family supplies such as infant formulas belong in such emergency kits.
TIPS FOR FAMILY/FRIENDS PLAN:
Have a plan in place for how you will make contact and get back together with your family and/or friends should an emergency event occur. Cell towers can be compromised during storms, so establish agreed upon places both inside and outside your immediate neighborhood where you will meet. Agree upon a central phone contact number. An out of town long distance contact may be in a better position to communicate among separated parties than one who is at a phone number right across the street. Identify several places you could go such as a friend’s home, Keep at least a half tank of gas in your car at all times. Take your emergency kit with you.
We are superbly lucky to be living in New England where the seasons afford us the spectacular colors and climate changes that keep us energized and our beautiful surroundings the envy of those who can only visit. It is most sobering, however, to see the news coverage of hurricane damage suffered by others a thousand miles away and look around our own New England homes one more time before we retire for the night.
Stay safe and be prepared this season. Know who and what you will cling to when the winds blow.
THE TRUSTED ADVISOR…..
This week a woman came to see to me about a career in Real Estate. It took no time to recognize her keen intellect and good heart. Two decades ago she had earned a scholarship to a fine college, but her parents who had come from the “old country” discouraged her and she did not pursue her dream. She does not hold anything against them. “They did not mean any harm.”
Because she had always loved houses and people, she obtained her real estate license as soon as she graduated high school. At the tender age of 18, she joined a small company and sold three properties in her first year. Although she loved it and would have been hugely successful, she left the industry to marry and raise several children. For years she helped make ends meet by running a children’s day care out of her home. She also managed offices for companies part time and did their books and accounting at night.
For all of these years this lovely woman continued to love houses and people. She was drawn to open houses where she soaked up all she could learn like a sponge from Realtors she studied. She read the classifieds and studied the prices and trends “out there”. She researched market values and different companies on line.
She sat forward as she listened to how the industry has changed over the years when she was changing diapers. For someone who had not practiced in decades, she had an impressive handle on the rules, regulations, laws and standards of practice.
Moreover, she knew her surrounding markets and I found myself engaged in a conversation as stimulating as any one I have enjoyed with the Realtors I most admire.
She wondered if she would be “right” for the profession. She still had one more child at home, but did I think there was a possibility of her re-entering the world of real estate she loved? Would it be worth it for a company like ours to “take her on”? She would certainly understand if it took “too much time” to bring her “up to speed”, and she thanked me for even taking this amount of time with her. She “knew how very busy” I must be.
When you need a Realtor, you look for certain qualities that assure you that you are in the hands of a trusted advisor. When you are a real estate company, you look for the exact same qualities in a Realtor. Many folks can pass a test. Many licensed folks can practice within the rules and regulations. Not everyone earned a full scholarship to a college she was forbidden to attend, yet still hold no ill feelings toward parents who meant “no harm”. Not everyone has sacrificed professional and economic advancement for decades in order to contribute to a more perfect world by raising good and decent new inhabitants. Not everyone has self taught herself to organize and run the businesses of others. Not everyone has such passion about homes and such genuine warmth for those who wish to sell or seek homeownership.
This beautiful and intelligent young lady who sat “wondering” in my office this week is your neighbor. Her children have played with your children and she has wiped their little noses in her day care center for years. She is the curious guest who showed up at your open house, but was “just looking”. She is the “go to” person who stays up all night with sick children, whose schedule rivals the busiest CEO’s schedule all day, who pays the bills, negotiates better deals with office vendors, and manages budgets with creditors. She is also exactly what we look for when we say “trusted advisor” and we can hardly wait see her pretty face on her own yard sign soon. You’re going to love her!
Because she had always loved houses and people, she obtained her real estate license as soon as she graduated high school. At the tender age of 18, she joined a small company and sold three properties in her first year. Although she loved it and would have been hugely successful, she left the industry to marry and raise several children. For years she helped make ends meet by running a children’s day care out of her home. She also managed offices for companies part time and did their books and accounting at night.
For all of these years this lovely woman continued to love houses and people. She was drawn to open houses where she soaked up all she could learn like a sponge from Realtors she studied. She read the classifieds and studied the prices and trends “out there”. She researched market values and different companies on line.
She sat forward as she listened to how the industry has changed over the years when she was changing diapers. For someone who had not practiced in decades, she had an impressive handle on the rules, regulations, laws and standards of practice.
Moreover, she knew her surrounding markets and I found myself engaged in a conversation as stimulating as any one I have enjoyed with the Realtors I most admire.
She wondered if she would be “right” for the profession. She still had one more child at home, but did I think there was a possibility of her re-entering the world of real estate she loved? Would it be worth it for a company like ours to “take her on”? She would certainly understand if it took “too much time” to bring her “up to speed”, and she thanked me for even taking this amount of time with her. She “knew how very busy” I must be.
When you need a Realtor, you look for certain qualities that assure you that you are in the hands of a trusted advisor. When you are a real estate company, you look for the exact same qualities in a Realtor. Many folks can pass a test. Many licensed folks can practice within the rules and regulations. Not everyone earned a full scholarship to a college she was forbidden to attend, yet still hold no ill feelings toward parents who meant “no harm”. Not everyone has sacrificed professional and economic advancement for decades in order to contribute to a more perfect world by raising good and decent new inhabitants. Not everyone has self taught herself to organize and run the businesses of others. Not everyone has such passion about homes and such genuine warmth for those who wish to sell or seek homeownership.
This beautiful and intelligent young lady who sat “wondering” in my office this week is your neighbor. Her children have played with your children and she has wiped their little noses in her day care center for years. She is the curious guest who showed up at your open house, but was “just looking”. She is the “go to” person who stays up all night with sick children, whose schedule rivals the busiest CEO’s schedule all day, who pays the bills, negotiates better deals with office vendors, and manages budgets with creditors. She is also exactly what we look for when we say “trusted advisor” and we can hardly wait see her pretty face on her own yard sign soon. You’re going to love her!
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