Where's Our Bailout? (Real Estate Market)

Where's Our Bailout? (Real Estate Market) (Members Only) (edit/delete)

In 2008 there were 6 bailouts that included; Citigroup, Troubled Asset Relief Program, Auto Industry, American International Group (A.I.G.), Fannie Mae / Freddie Mac and Bear Stearns with a total of US dollars reaching $1,615 BILLION (a). Where is that money coming from?

1 out of every 200 homes will be foreclosed on. 250,000 new families go into foreclosure every three months. (b)

Now, in 2009 BOA gets a 142.2 billion dollar bailout. (b)

Who’s to BLAME, you, me, Sub-prime, borrowers, banks? Who cares. I voted for OBAMA. Not because he’s the first minority President or I liked his health care reform. I voted CHANGE. We can argue what has he done since he became President or what he has failed at. What’s the point.

CHANGE, Lets quit blaming everybody and quit asking, “Where’s my Bailout” Look if you were in the Real Estate Market in the last 5 years you had a part in this. Quit pointing fingers. It’s time to CHANGE and start being more responsible, ethical, and conscious of what’s going on in your business.

Times are changing in a drastic way. Banks are tightening their programs. Appraisers are forced to obey many new rules. REALTORS® are getting massive low ball offers on their listed properties. It’s not a happy time.

Is this a negative? No, this is making us more responsible, ethical, and conscious. Borrowers are finally qualifying for homes they can afford. Lenders are lending more responsibly. Appraisers are giving actual value (yeah, it is being valued low because of all the foreclosures).

CHANGE………

“You've been drafted into a war you didn't start, ... Focus on your customers and lead your people as though their lives depended on your success.” Warren Buffet

Stay POSITIVE. Your community needs you in these times. Your community is begging for knowledge and advice. Stay with them. The people and businesses still around after this is over will be the only ones left. Think about that……. Where is your competition? It has reduced in massive size, hasn’t it.

Give proper expectations from the beginning to your clients. Educate them in the times we are in and the times that we can look forward to.

Thanks for your time and comments..

Sources:

(a) http://www.propublica.org/special/government-bailouts

(b) http://www.fdic.gov/about/comein/files/foreclosure_statistics.pdf