It has been an interesting year. We have had to live with politicians that can't work together casting greater doubt as to America's financial stability impacting potential homebuyers and home sellers softening the real estate markets stunting recovery. We have seen interest rates drop, making staying in your existing home more affordable as millions of homeowners refinanced their homes to enjoy a lower monthly payment. We have lived with stories about Europe's weak economy, Greece's near bankruptcy maybe soon followed by Italy and Spain, Japan's disastrous earthquake hampering an already faltering economy and home buyers and home sellers raised the caution flag and found reasons to stay right where they were at.
We have more than 5 years of inventory in the market in foreclosed homes, vacated homes, bankrupt developments and more defaults yet to come. We have seen major banks sued for a number of fraudulent acts and we have seen some lenders back away from the home loan mortgage lending business. We have seen the government propose penalties and fines to major lenders for illegal or fraudlent acts.
We have seen a continuing shrinkage in real estate agents and closeures of real estate agencies and businesses whose incomes are attached to the real estate industry (title companies, appraisers, escrow companies, developers, mortgage brokers) as the income of so many people have been impacted by these challenging times in the real estate business in America.
Those who have survived 2011 find themselves working harder than ever for the dollars they earn. It is a time for the swift-a-foot, for the quick-minded, for the devoted, inventive, aggressive and committed to not just survive, but thrive.
2011 has been an interesting year because it has helped many involved in real estate to find the formulas that bring them more business, that build them a better reputation, that taught them more skills, while for others it was the year that told them it was time to move on, time to find another career.
I am saddened for those that have had to move on. We have lost some very nice people that our firm has worked with for many years. This is sad to me and to my associates. We will miss many of them. It is always nice to work with nice people and to help one another deliver quality performance for the client and to generate income for one another. This is our mission and it is particularly sweet when you can do it with nice people. We have lost some very nice people.
But we move forward aggressively. For our firm, we are planning growth, aggressive growth as we move into 2012, for without growth, there cannot be success. We continue to do everything we know to do to provide THE VERY BEST RATES AND SERVICE possible. We work with clients credit scores, we work with clients budgeting, we work with real estate agents to structure deals so the deal happens and buyers and sellers can find common ground, we keep everyone in the loop informed as the loan process progresses and we work to get things done quickly. It is our dedication, hard work and revitalized commitment to the real estate agent and the borrowing client that has kept our firm doing well in these extremely challenging times.
We believe 2012, an election year, won't be any better. We believe that the news will be filled with politicians blaming one another for the difficulties of today and that fear will be used to influence voters and the result will be they will be more hesitant in 2012 than they were in 2011. So we believe we will be challenged even further, but we are committed.
We thank all of you who follow our blog and hope that you found the information provided to you this year helpful in helping you be a better real estate agent.
Upward and Onward-----ONE DAY AT A TIME.
Blessings
Lee
