People buy homes when they feel their job is secure, their income is good, the home is a good value and the markets are moving up, employment is rising, business is doing well and the future looks good. This is when people make the single biggest expenditure in their lives. They buy a home because they feel good about business, the country, where it is going and who is taking it there.
How long will it be before people can feel this again?
1 in 5 people employed are underemployed, 25 million people.
14 million people unemployed. (so far, many believe this number will go up another 2-3-4% in 2012 bringing unemployment up to 18 million people).
So this is 30% of the working force that is not spending money because they don't have money. 30% less capital into the economy and into housing market is a guaranteed decrease we can expect for the next several years.
This is not just about Obama or Perry or Obama or Mitt Romney or Michele Bachmann, Herman Cain, Jon Huntsman, or Ron Paul. Europe is facing major financial issues with Greece, Italy and Spain and there is no source for the funds to keep Europe from sinking unless China comes forward or the European Union does something they have never done before. If Europe sinks and their economies fall, our customers will buy less, including China will buy less and then the entire world is in a tailspin of shrinking economies until the problems globally can be remedied.
The real estate industry has even further problems. More inventory to bring on the market. More foreclosures written about in the papers. More people fearful of not knowing where the market bottom is so the prudent thing to do is wait, and wait hundreds of thousands of people will do.
This is something that will impact the NEXT FIVE YEARS. We in this industry have to come up with a whole new game strategy to weather this storm.
Here is my strategy:
1. Reach out to more real estate agents and brokers and explain to them the value to a home buyer when I have a broad range of capital resources that allow me to do much more than a bank can do and most often more than any other loan originator.
2. Explain why I have been "THE GO TO GUY" for many real estate agents when they had difficult loans to get passed.
3. Explain to them why already 4 out of 10 financing packages I am doing have twists and turns in them to make the deal happen, something unique in the financing package to meet the limits and the needs of the buyers and sellers. Negotiating these terms is an art form and I understand this very well. We do it nearly every day.
4. Help real estate agents and brokerage firms improve the amount of deals they can actually close between the variety of capital sources I have available to me, the strategies for making a deal happen and the unparalleled dedication I have to making sure a loan is originated.
I will be the most reliable mortgage source in the State of California. Sounds like a bold statement I know, but you all already have experienced a lot of uncooperative banks and lenders who seem like they don't really want to loan money. Try me, just once and see if things are different with me and my team.
Give me a call and check me out. You are going to need to be with loan originators that are flexible, hard working, willing to find the way to make every deal turn into a funded sale and me and my team are those people. Lee Appleby (800) 354-4919
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