Post Ike - Post Election --what is it doing to our local real estate market?
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We've weathered all kinds of storms this year! Hurricane Ike, the stock market crisis and a highly contested Presidential election! At the very least, most people are out of their comfort zone and sometimes that could be a good thing! When things are too easy, we take everything for granted and don't truly appreciate all that we have. Maybe that's why people who haven't voted in years turned out to vote this year. Maybe tightening our belt a little to prepare for a possible recession will make us all re-think our priorities in life as well. As a Realtor I get a personal glimpse at how people and families interact when choosing a home--a very personal thing, when you think about it. Often emotions dictate the decision--after all we all want our dream home. Fulfilling that dream can make us feel like all our hard work and sacrifice are worth it. But what happens when a mix of bad lending practices, easy money and bad personal decisions create a market with thousands of homeowners owing more than the value of the home and not being able to afford the high payments? With no place to turn, many have opted to let the bank foreclose. The result has been catastrophic. It remains to be seen what the huge government bail-out will do for our financial markets and helping people to keep their homes. But as with all calamities, life goes on. Meanwhile in our market, people are still moving in, moving out --familes are growing, baby-boomers are down-sizing. So amazingly enough, we're still busy selling homes. Houston and the surrounding areas were not as drastically affected by the housing slump. We never had a huge real estate bubble, so we also never had the big burst! Now more than ever, whether you're buying or selling, it's important to have an experienced agent who keeps your interest first to help you through the process. Call us and let's talk if you have a real estate question.
Dee Pardue 713-882-0527 Robert Goleman 713-882-3842
**SPECIAL NOTE TO HOMEOWNERS WHO ARE BEHIND ON THEIR MORTGAGE PAYMENTS:
To be prepared to help homeowners in a situation where they can no longer afford their home and they owe more than it is worth, Robert and I have the materials, information and all the various banks’ short sale documents now on file. By opting for a short sale if you are behind on your payments, you avoid foreclosure and the devastating impact on your credit, the bank avoids the costly expense of REO’s and foreclosure and the community benefits by protecting home values from another foreclosure sale. So if you or someone you know is in the situation, call us. We can help you through this process and as Robert says, "get you on down the road" to other things.
What’s my home worth? (Click here!)
Dee Pardue, ABR, CRS 281-376-3932
Robert Goleman, CHMS 713-882-3842
