Hitting Home

Before I spent my first day actually working as a realtor, I purchased all the equipment necessary to do business. I got my business cards, my magnetic car signs, my name tags, my open house signs, and lastly, my "For Sale" signs and yard stands. Wow...was I one optimistic SOB. I purchased 10 "For Sale" signs, and 10 yard stands to hang them from. I guess I envisioned myself on the front lawn of every other available listing.

Now I know better!

It didn't take long to realize that the available listings, mostly REO's, weren't going to a "green pea". No...those listings were available only to the top agents who had the resources to not only market them, but maintain them. Literally, I could not have afforded a bank owned listing.

So far I have had three listings; a small, inexpensive condo, which I made all of $412 when it sold; my neighbors home, which was foreclosed on before the short sale approval came through; and, my latest, another neighbors home, which I would just as well not have.

I live in a great neighborhood, with fantastic neighbors. We all moved in at the same time, so we're fortunate to all know each other. We all bought after the housing market had crashed, so it was safe to assume that we could well afford our homes. Because of that, we figured to be neighbors for a very long time.

What a difference a couple of years make. This recession (will someone explain why this is not called a depression?), was put in motion by the collapse of the housing market, brought about by greedy lenders, and foolish buyer's, who combined to create a false market, the demise of which was inevitable. But things are different now!

As the economy rode the express elevator to the basement, it began to gather additional riders on the way down. No longer was the elevator full of ignorant or deceitful buyer's who signed up for loans they could never hope to pay back. Now other folks were hopping on. People who a short time earlier could well afford their mortgage, began to struggle as hours were cut, or jobs were lost.

My neighbors, my friends, just recently hopped on that elevator. The husband had his hours cut back 15%. His wife lost her job completely, but was offered another position in a small town two hours away. They made the decision to move, but can't afford two places, so they're desperately trying to sell. The last time I met with them, the husband looked at me and said dejectedly, "This is probably the nicest home I will ever own in my life".

I'm trying to avoid short selling their home, holding out hope that I can somehow save their credit, but their initial $180,000 deposit is long gone. They're really good people, and in a normal world, would never be in this position. I don't believe that I have ever seen, or lived through, a more difficult period. In some way or another, everyone I know is struggling. It's frustrating that I can't help my friends, but I'm too busy trying to figure out how to pay my own bills.

I know that this will all work itself out; that things will improve. I guess we've all learned a valuable lesson, but to tell you the truth, I'm ready for class to be over!

The Rookie