Jeff Craig Broker, Realtor, CSP

I'm starting to get concerned about our governments actions on housing. Just a month ago, I was excited. There were no less than thirteen bills floating around congress regarding the housing tax credits. They varied , but all had two things in common. They would extend the current tax credit beyond November of this year and they would offer the tax credits to all buyers. I was very hopeful and thought this was just what housing and the economy in general, needed.

Then the whole health care issue exploded, and I do mean exploded. I won't get into that here. Now I have concerns again. Health care, as important as it is, has overshadowed all other issues in government. November will be here before we know it. Will anything be done, or will it be a rushed bill that doe not really address all the problems facing housing. We can only hope it's not forgotten or given last minute consideration.

So, I urge everyone connected with real estate in any way, to contact your senators and congressman and even the President to address this now. Housing got us into this mess and I believe it can get us out.

I looked under my desk....I looked in the circular file...I looked under my bed when I woke up...I looked out the window...nothing...nowhere. What's going on? Why, just two months ago, we couldn't keep up with all the activity. We were absolutly swamped, designong, pricing, presenting. We had to divie up the work load. I just couldn't get to it all on time. We sold four pre-sales and a spec over a ninety day period this spring. My boss was doing a jig. I was on cloud nine. The market had finally turned. The recesion was just a bad memory. Or so we thought.

Now I sit here without a single lead. Not much dancing going on around here. OK, maybe when "Super Freak" comes on my internet radio station, but that's another story.

The other bulders tell us the same story, as do all the local Real Estate Agents. What happened? Did the "magic" of the $8,000.00 tax credit wear off? Are people still worried about losing their jobs. Heck, I know I am! Is it concern over the health care issues? I don't know. Do you?

I'm sure most of you see a decent bump in activity after Labor day. For me, September and October and even early November, have typically been great for sales. Not this year.

So, I'll keep looking...in my top dresser drawer...in the trunk of my car...(hmmm, there's that sandwich I lost last week)...in the old and dead lead file...on the internet. You get the idea, I'll look anywhere and eveywhere for a new prospect. If you see one walking by, please send them my way.

Out of cars...out of money...holy cow! That's what I'd call a successful program. Yes, I'm talking about "cash for clunkers". The government actually did something right...and it really worked? OK, I know I sound cynical. That's because they did it for the auto industry, but not for housing. What got us into this economic abyss? Housing!!! Some of you might say "Well gosh, they did come up with that $8,000 tax credit to first time buyers and it sure did help me sell some houses". The rest of us are saying "It didn't do a darn thing for me".

So, right now there are no less than thirteen bills fighting their way through traffic in Washington. Man I hope they don't get stuck on the beltway! Yes, thirteen bills, all trying to accomplish basically the same thing. To help the housing market. Some are sponsored by Republicans. Some are sponsored by the Democrats. Get this, some are bipartisan! Could someone get me a cold drink, please. Some ask for an $8,000 tax credit and some for $15,000. Some would extend the current incentive through the end of this year and some through 2010. All the bills seem to have one thing in common. They are for all home buyers. Duhh!

So maybe, just maybe, there is some light at the end of the tunnel. Hmmm, let's hope the government's first bailout program isn't paying for the construction of that tunnel. Please, please urge everyone in your office, your building, your neighborhood, your sphere of influence, to contact their congressperson and senators, to push through one of these bills soon. Who knows, we may actually be able to put some presents under the tree this year.

Wow, 30 year fixed interest rates at 4.5 % last week! I've never seen that before and I'll bet most Americans haven't either. Like most homeowners, I've been anxiously watching the rates, hoping they'd go below 5%. So like tens of thousands of homeowners, I thought I'd refinance.

For some history, I've been in real estate for just over eight years. First in general brokerage, then with several production builders and for the last couple of years, with a custom builder. So, after hundreds of closings, you'd think I know the drill inside out.

So, let's not talk about me and let's forget about "Joe the Plumber". He's old hat. His fifteen minutes of fame is long gone. Let's think about "Joe The Buyer". The average middle class working family, with a mortgage, maybe at 6.5%. Not a bad rate, not at all. Joe hears interest rates are going down. Mrs. Joe suggests looking into refinancing. Joe calls his friendly banker, who encourages him to go for it. Joe agrees, applies, finds out his credit rating is pretty good. He jumps on the opportunity to get a rate around 5%.

They fill out all the forms, pay the fees and wait for the appraisal. It takes longer than expected. Well, what did they expect? Joe's banker had 1,756 refi applications, just in the last month. The appraisal finally comes in. Man, not what Joe expected, but hey, it could be worse.

Next thing you know "The Buyers" receive some paperwork in the mail. "OK...rate is 4.78%...30 years...amount financed, $200,000...looks good!" Two days later Joe receives another stack of paperwork from the bank. It's from Ms. Jennie Underwriter in Waccahatchie, South Carolina. "Hugh? I thought the rate was 4.78%. This says 5.25%. And the amount financed says $212,000. I thought Mr. Banker said it was $200,000. I'm gonna have to call this Ms. Underwriter." Joe and Mrs Joe are really confused. He calls Ms. Underwriter. She doesn't know where they got that information. She can't find anything about 4.78%...or amount financed, $200,000. "Well Joe, I suggest you call Mr. Banker."

Now Joe is confused and a little annoyed. How can one person not know what the other one is doing. Joe finally gets through to Mr. Banker. "No Joe, I didn't know anything about that. Let me make a few calls. I'll get it straightened out" An hour later, Joe gets an e-mail, saying he should ignore the second letter. It's all taken care of. Joe and Mrs. Joe breathe a sigh of relief.

OK, so I was Joe this time and I should know what's going on! So, Mr. Banker, Ms. Underwriter and everyone involved. Please help "Joe The Buyer." They are stressed out enough from the economy, not knowing if Joe will have a job next week. Sure you're swamed with refis and you're putting in lots of extra hours, but Joe needs a hand to hold and someone to tell him, it's OK

"Jeff baby, what's shakin man? It's been like what, two years, three? You're lookin good man. What'd you lose about twenty pounds, no, that aint it.....lemme think. I know! It's the look of success man. You must be rollin in the dough. What'd you do last year, three mil, four mil, what? Say, you like the ring? 24 carats and real diamonds, not bad eh?"

"Umm, good to see you too Jimmy. Actually it's been about six months. Of course, if you count your picture in the commission's hall of shame, it was only a month"

"Oh zing, good one baby. Ya know it was all a set up. That commission is just out to get the high rollers like me. They don't like anyone makin the big bucks like us. You know what I'm sayin, right...right?"

"Good to see you Jimmy. Take care of yourself" I knew Jimmy too well. Five, four, three, two...

"No, no, where you goin? I got somethin to tell you about. It's big...really big. We could make some serious green. Ya know what I'm sayin, right...right?" Best of all, no one will be the wiser. You and me babe, that's the ticket"

"Jimmy, I gotta go, I'm late for a root canal."

"What's your hurry. Here, have a sip of this...it's the good stuff, 150 proof. So listen, here's the deal. I got a developer wants to build a mall down on fifth and Locust. All we gotta do is get the people livin in those houses outta there. We tell 'em we got a deal they can't refuse, next thing you know, we're in the penthouse at the Sands. Ya know what I'm sayin, right...right?"

"Jimmy, first of all, the Sands is long gone. Second, I'm on the commission now. Third, I'm wired and that guy coming toward us is a U.S Marshall. Have fun in the "penthouse" at the big house. Ya know what I'm sayin, right?"