Its an election year. The economy is struggling and the fear of a recession is lingering. Real estate values across the country are sliding backwards and home loan originations are off. So what is the White House thinking about?
Charlotte NC.
Yep, Dick Cheney visited Charlotte today and of all the things he chose to speak about... well, lets just say I am proud to be a part of this community!
http://www.ednailor.com/2008/01/31/charlotte-in-national-spotlight-again/
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Ed, if you can share with us the many areas the economy is struggling. I would appreciate it. I still can't find a decent parking space at the movies.
When you cut through all the political rhetoric, our neighboring industrialized nations in Europe and the Far East are freaking out about the state of our economy. I think the administration is finally beginning to wake up to the fact that they need to do something.
Hi Ed. I do not see purchase deals dying off on the Retail side. I actually see this as the best year I ever had in NC. I hope the Brokers do well this year but I beleive that the odds are against them. The programs that are being offered to Brokers are just not as strong and will be dwendling throughout the year.
Good luck to you in 2008!
Ed, This is definitely shaping up to be my best year ever--and, just as you are, I am PROUD to be part of this community!
Robert: Maybe I should clarify and say "Among reports that the economy is struggling". I am with you, it may be slightly slower in some areas, but we are still moving.
Eric: I would hate to be in politics. With so much to actually do, it must be frustrating for the few politicians that WANT to get something done.
Kurt: You may be right. I am about to make the move to Lender as well, so watch out! LOL
Debe: Let's make this an incredible year! What a great place to live and work!
I think the White House is trying to stimulate home buying by reducing the rates. No offense but lenders made a heel of a lot of money in the past few years and part of the reason we are in the trouble we are in is because of bad lenders. I am not singling you out, I am just speaking generally.
Tina: No offense taken. I agree 100%. The media has made everyone think this was because of bad mortgage brokers, and while there are certainly some bad eggs, people forget that even the best loan officer can only offer what the lenders are pushing.
What most do not know is that when subprime started getting just "stupid", the lenders would send their account executives to a broker's office to go through their turn downs. Yes, their turn downs! They went through the trash and sought after loans. And they found them... and now we have the results.
So yes Tina, some lenders were bad. They were fueled by Wall Street, and when the **** hit the fan, they quickly folded, declared bankrutpcy and the owners went on vacation. Hopefully the industry has learned from this.
Ed Nailor - Charlotte home Mortgages