Monday Morning Coffee – Heartbeat – Breath – Rhythm

We all know that in order to stay alive, our heart must continue to beat 24/7 . . . and we must continue to BREATHE.

Our heart and breath rates will rise and fall depending on our level of activity and are almost always the first functions we check in the event of an emergency.

No heartbeat is not good . . .

No breath is just as bad . . .

Super fast heartbeat and breathing can lead to system failure.

So . . . If you want to know if the patient is alive, check her pulse and listen and/or feel for signs of breath.

If we want to know her relative health, we “get a read on” her pulse.

We look for signs of life first . . . then examine for other symptoms.

Nowadays, I frequently hear the question: “How’s the real estate market?”

The good news is that folks are asking that question, because that tells me there is a pulse. Sure, they could simply be initiating “small talk”, but I am first thankful that they are aware that I am a Real Estate Professional who has his finger on the pulse of the local real estate market . . . and then I know that most homeowners and/or first time Buyer candidates always “have a pulse” for real estate because they are personally (emotionally and financially) invested in the Health of the LOCAL Real estate market.

My answer to the question always begins with reassurance that “The Patient is alive” . . . There IS a heartbeat and there is breath . . . signs of life. January 2011 has been a month in which we have seen more movement . . . Buyers and Sellers yawning and stretching and beginning to move around.

This is resulting in more new and fresh houses coming on the market . . . and more Buyers out shopping (weather permitting).

Our largest challenges these days seem to showing up on the mortgage side of things. Fairly frequently, we now have well qualified Buyers having to jump through a LOT of hoops to get through underwriting and then to the closing table.

This can be an excruciating process, and there are myriad reasons for it. Some folks have said that banks just don’t want to loan money. I know that’s not true . . . Banks DO want to loan money.

This is a FAR more complex issue than I have time to unravel on a Monday Morning Coffee, but one of the system issues has to do with underwriter fear of not being in compliance with the intricate new rules . . . They are working on the premise that according to the new rules potentially 1 in every 4 loans they underwrite will have FRAUD embedded somewhere in it.

We can deal with this through the establishment of a healthy rhythm (pulse) in each transaction . . . Beginning with encouraging Home Buyers to spend the time UP FRONT working closely with the Lender to be CERTAIN that the financial information the Buyer provides is 100% ACCURATE, being ultra-responsive to lender requests for documentation throughout the process, and . . . . . (Drum Roll) . . . NOT playing any financial games during the process. (No moving money around or taking on more debt or changing your name or quitting your job etc.)

Now is not too soon to begin exploring your options with respect to a Home purchase or sale any time in the next 2-24 months . . . Contact me if you have an itch, and we’ll spend some time together to develop a plan.

Mostly, have comfort that the patient (Real Estate Market) IS alive and improving daily 🙂

I hope you have a great week . . . and I hope the snow misses us.

Just sayin’

Best,

b

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About Barry Owen

Residential Real Estate Principal Broker and Founder of Pareto Realty, LLC. Creating the quintessential real estate firm with emphasis on "Live, Work, & Play" balance . . . and a true Performance Oriented environment for Real Estate Professionals. Serving the Real estate needs of Home Buyers and Sellers in Middle Tennessee.
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