C. Mark said:
STOP READING THIS GARBAGE.
Most of the foreclosures you're going to see hit the market won't be trashed beyond repair. You'll see investors snap them up (as they are doing now) to flip and rent. The Rental market is going to be even hotter than it is now. And frankly, we need some inventory. And as long as seller's either can't or won't price (I'm so sick of hearing "I'm not going to give it away.") there won't be anything for me to show anyone. The inventory is so low now, I'm at a loss for what to show anyone. There's less than three months of inventory in Paulding and that's mostly crap that would need extensive repairs to be habitable.
What I hope we learn from this, as a culture, is that we must stop being arrogant. We are the most arrogant bunch of sob's. We don't own the world, some invisible deity in the sky didn't anoint us the chosen ones and sometimes America loses because we are simply too big for britches. We let this happen. We continue to let it happen. I'd say if you don't like the way the house next door to you looks and it's bringing down your value, mobilize your neighbors and get your asses to work. Turn off the big screen TV, that race or sporting event isn't nearly as important as you think it is. Focus on your family, your friends, your own neighborhoods. And, GASP, those that are difference than you. Teach your kids the value of volunteering. Take away their video games and buy them a bike. Take a trip to the library. Take a walk.
I'll share something very personal with you. I can't believe I'm even going to do this. I'm currently four months behind on my mortgage and I was in danger of having my power turned off this week. If it had not been for the generosity of a friend who made me the small loan to cover it, I would have been in the dark Saturday morning. I'm not behind because I'm lazy. I'm not behind because I'm out partying and not paying my bills. I'm behind because two of the three closings I had scheduled for December blew up through no fault of my own. Then another blew up last month. HUD and a foreclosing bank screwed both me and my clients because of their ineptitude. And once you're behind it's hard to catch up. Banks and the government caused this and we can trace it all the way back to the New Deal and the creation of HUD and FHA. Because of this bullshi.t I went three months without a pay check. I was fortunate enough that Jimmy took on a few freelance design jobs and I did get a couple of small rental fees in. We're talking a couple of hundred dollars over a near 12 week period. Nothing fancy. I did some odd jobs like painting an office for my broker. That coupled with one closing in March allowed me to make a mortgage payment and thankfully save my dogs life when she needed emergency surgery last month (when it rains, it pours). HOWEVER, April is going to be a killer month for me. I've got $9k in net commission coming my way. Month's of work is finally going to pay off. I'll catch everything up, replenish my savings and can finally grocery shop without feeling guilty about spending a little more to eat healthy. I haven't had television in two months. I have cut back on everything possible. And I already live well below what most people would think of as poverty level. I chose wisely. I purchased a home eight years ago that I could afford. When I had a vehicle it was used when I bought it. I've never owned a new vehicle in my life. I'll be 36 years old in July. This is one of the reasons I'm also planning a move to Nashville at the end of this year. Their market is doing much better than ours (even though ours is improving drastically) as they never had the inflated values that we saw. I'm choosing to move to a better location that will allow me to be more financially successful. I'm making a choice to not wallow in it. I'm doing what I need to in order to make it. I'm leaving my friends, family and six and a half years of business behind to start fresh. That's what America is about to me. Being humble enough to know when it's time to move on. And having the personal responsibility to actually do it. Not waiting for someone to do it for me.
Through all of this you've probably noticed I remain optimistic. I focus on the positive. I choose to tell you each week what's good about the state of the housing market. I choose to wake up everyday and go to work, thankful that I have a talent and the education that I can use to earn money. Thankful that we can still afford for Jimmy to go to school full time. He was laid off from his job at that other forum last April. No warning, no notice. Just, "We don't need you anymore. Three years was all we needed." We didn't cry and whine. We stopped eating out. We cut back our expenses. When my vehicle died (something that is imperative to my business) I didn't replace it. And I still haven't. I've been doing a job that requires a car for nearly a year and I don't personally own one. We make do with Jimmy's car and my business partner has been a huge help because thankfully he has reliable transportation. I guess what I'm trying to say is, Would any of you that know me or even just read my posts have guessed I was anything other than successful? I sure hope not, because to me I am successful. I get my ass up every day and I go to work. I focus on what's good about life and not what's bringing me down. I live meagerly. My expenses are just under $2000/month. That's mortgage, insurance, food, etc. I don't have any credit cards. I do owe the IRS some bucks but they will get paid this month too, if all goes as planned. So, I'll say it again, STOP FOCUSING ON THE NEGATIVE. Get up, take a deep breath, and get your ass to work doing something productive. You'll feel a whole lot better. And the world won't be nearly as frightening. And besides, death is coming for all of us. Some of you are looking forward to a splendid after life. I'm just getting as much good out of life before it claims me. Auntie Mame said it best, "Life is a banquet, and most poor suckers are starving to death!"
And above all else, have a great day.
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