Crazy day in the life of a Realtor...I say now, if you want to buy a house it is a lot easier to find you a home than getting you a loan.
What a challenge it has been in getting loans these days. In a transaction right now that is already 2 weeks past its closing date. the loan officer has been at the other end of the most vile vitriolic pouring out of my tongue but what can she do?? We are dealing with morons with the title of Underwriters who leave their brains and commonsense behind at home everyday.
The MI company comes back asking for explanations from the appraiser. Now of course I forgot to mention that the appraisers have their own egos too and we have to pander to them, till they decide they want to talk to you. Oh ! and the HOA company cannot deliver us docs up to 10 working days of ordering them and they get paid from the dues that are paid by home owners. And the saga continues....
Now the file is back with the underwriter and she says that she is getting a fraud alert on the property and needs further explanations from the appraiser. Appraiser says - go to hell, I have other things to do. I tell my loan officer- for heavens sake there are no more comps in the area, where did the UW pull them from her? Her a@#^%???? When I look at the fraud alert( since this is a flip) ALL the comps she is pulling are wrong !!! Hours of correcting them, sending the property history reports/ agent reports/tax reports and she still says No, I won't use them ! At that time I am ready to stick a knife in her throat but she got saved with her manager intervening and saying they will get it done. The best part of it is that the client knows what is happening but is totally oblivious on what this all means !!
At the end of the day, I sat back and thought- who the hell says our jobs are easy?? yes there are many Realtors who do not involve themselves with the loan process at all and leave the client to fend for themselves. But I am one of those( Crazy??) Realtors who keeps a grip on the whole transaction and the grip loosens the day it records. I have to say that the hardest part of my job right now is not finding the home for the buyer or holding a buyer down when I represent the seller but it is the loan process. Guidelines change everyday and suck the joy out of our work lives too...and if we stay offhanded then transactions have a much bigger chance of falling apart than sticking !! Have fun with the loan process folks :):)
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The craziness never seems to end in this Real Estate market. The government has come out with nothing but failure programs; the consumers- be it buyers or sellers- everyone is under duress; the Realtors are playing scammy games; lenders want to make your life so difficult.... When is this going to End???
There definitely seems to be no respite. I could rant for hours on all the garbage inundating our industry but it is going to do no good. America is on a fire sale and we are getting bought out by other countries. Who do you think is buying in this market? Look around you and you will know.
The new Refinance program the Obama administration is coming out is yet another failure. Why help only those who have their loans backed by Fannie? There are millions of people who do not have loans backed by Fannie and Freddie, what happens to them? They cannot refinance their homes and the deluge of short sales or foreclosures will still continue. Why pretend that they are introducing this new program ( to get votes)when it is not going to stop the systemic bleeding?
Many( not all) Real Estate practitioners are making life so difficult and there is no one to control or police our fraternity. The filthy underhand deals going on is unbelievable. Especially in short sales where the sellers do not care, the agents are running schemes to get money under the table for themselves and the sellers, and cheating the system as much as they can. MLS rules are being contorted and manipulated to suit their own needs. If they are reported, the Boards turn a blind eye because they need the revenue. No wonder people think that we are the scum of the earth ! Living an honest life in a dishonest world is the new name for stupidity.
And the Lending institutions are equally insane. Bank of America came out with new rules that the files go through multiple audits, then go back to the underwriters for another 48 hours before they go to docs. So if you are getting a loan from BofA, you better get ready to jump off a bridge if you are planning to close a loan in time !! A- paper borrowers are being put through the rigors like they are criminals.And the real criminals- The banks- pocketed our money and are mocking us on how we got duped into helping them.
Here we are struggling to sell homes and the consumers think our lives are so easy and we make tons of money in commissions but they don't realise that the amount of work and struggle going into taking them from start to finish is unbelievably stressful. And not to forget the legal pitfalls and consumer protection that we have to take care of. I tell my clients- step into my shoes for a week, and I guarantee you will start to love your current job. BTW- I did get Diabetes and High blood pressure by being in this business!
My mind is running at a million miles an hour right now because I so want to spill my guts on this white screen but the backlash will not be pretty. So I swallow a container of bitter pills, hunker down and continue to work hard in the hope that one day the environment will change; people will be more respectful; our work lives will not be as stressful and this country will be able to pick itself from the pits it's in right now. It is just so amazing to see this amazing country slip from being the land of opportunities, where people were courteous/respectful and happy TO the bottomless pit of despair. I pray that we will get a chance to see the good times again.
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My silence for some time has been for a reason. The economy has not been helpful to the market, the media is droning on and on about everything negative and I am just tired of listening to bad news. Quite obviously it is scaring the home buyers out of the market. So I decided to take some down time to observe what is happening and give my own thoughts structure.
The buyers who are sitting on the fence today are actually going to be losing out very soon. Just as they always say- Buy when the media says "FIRE" ! But the buyers today are behaving exactly the same way as the ones in 2008. And all of my buyers who bought in 2009-2010 paid atleast 25% more than the prices in 2008. We went up further from the 2009 -2010 prices as well and the buyers think that the impending second recession is going to bring the prices down to prices lower than the 2007-2008 levels. I remember the time when my son told me to buy Apple stock when it was just under $100 and I thought to myself- I will buy it when it dropped more. And what happened? I lost the opportunity to make a fortune !
Now I don't even bother to convince my clients that this is a great time to buy. Sounds like a sales pitch and a broken record. If you cannot see the opportunity, you will be like me- looking back in hindsight and losing the dream of becoming a millionaire !!! Interest rates are low as could be but if fear grips you, that's ok - because the ones who have the guts will be the ones who will run way ahead in the race. I have family in India where they pay atleast 15 times more for the kind of square footage we can get here, their interest rate is 16% and the people who buy homes know that once they get their foot through the door it will pay off in the long run- despite the corruption in their system !!
It is a open door for huge opportunities because what is available at basement pricing now will be a premium in 10 years from now. And if I am alive I will look back and laugh because the fearless will be laughing with me.The nay sayers will keep their money in the banks at a paltry 1% interest and will continue in the path of mediocre growth.
San Ramon, 94582 Housing Market Analysis from 2009-2011 YTD
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Lectures on Morality becoming commonplace in this country. Who is anyone to tell the next person where the moral standards should be when this country's politicians are the most immoral and corrupt bunch ! The country cannot pay its debts and the people going through the grind are expected to pay their bills??
There is moral degradation to a point where I am forced to think that if paying back your debt really is the best thing to do anymore. The average American works hard( that is if they have a job), pays their bills, pays Uncle Sam and yet looks at a bleak future of maybe no social security checks in the near future, no Medicare and wonders everyday where is his tax money going.
And on the other hand we have folks who are on either end of the spectrum. The super duper rich continue to rake it in because the political parties cover their behinds in tax subsidies and loopholes just to make sure that the political contributions continue. And the other end of the spectrum is the people who milk the system ! They refuse to work, collect money from the govt every week, and add on to the bleak unemployment numbers- and these people CHOOSE to be that way. And who is in the middle? People who either work or are looking for work. What are we doing in this country????? This is no longer the America I migrated to. It is becoming almost worse than the third world countries- at least there you knew the politicians were corrupt and nothing was going to happen, rather than presenting a polished exterior covering the jackal inside.
I am so angry at what is happening in Washington that I honestly propose that the tax payers should quit paying their taxes till these idiots come to their senses. Quit making your payments because your efforts are not being appreciated. Am I being ridiculous? Hell NO ! I am being honest and my anger is well founded. And before I stop, the media needs a serious gag shoved down their throats for causing more mayhem, confusion and propaganda than what is true. Good Luck America because you are becoming a country of bigots, playing dirty racial politics that I thought only existed outside the borders of the US.
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For a Viewing of the beautiful homes on Fioli Loop and other homes in the San Ramon/Dublin and Pleasanton area, contact
Rama Mehra @ 925- 236-0375 or Sunil Mehra @ 925-698-1816
Rama and Sunil Mehra are available to help you with all your real estate needs including relocation to San Ramon CA, Dublin CA, Pleasanton CA, Danville CA and other nearby areas.
A recent visit to the South bay was quite the eye opener. What recession are we talking about? Home prices in Sunnyvale, Cupertino and Mountain View are off the charts. 40 year old homes, low square footage and huge price tag??? And people are buying !!!
That got me thinking on why the demographics is moving all the way to San Ramon... the last progression took folks into Fremont and the prices went up in that region. The Mission school district attracted these high tech workers, and the location was perfect- closer to work and great schools- the value proposition made sense. For those who could not afford the Mission, sent their kids to private schools for the higher class of education. But these homes were getting old too and now it was time to move to another area.
San Ramon was the undiscovered gem in the rough, waiting to be captured. The builders were building new homes in Windemere and Gale Ranch and there was an opportunity. The strike came in the downturn when everyone started to find amazing deals. For sometime I almost thought the entire city of Fremont, besides the Mission, moved to San Ramon !! Folks were moving here even from the Peninsula and San Franciso for the wonderful environment, fantastic schools, safety and a family oriented community.
Now the downturn came and went. The Windemere and Gale Ranch markets are stabilizing. There should be NO MORE DEALS now. San Ramon is the hotspot in the East Bay. It has the right mix of what the demographic demand is: New homes, high ranking schools, beautiful landscape, safe community, parks, junior college campus. The taxes are higher but still better than paying $2800/ in rent for a 2 bedroom, 700 sq foot apartment in Sunnyvale !! Yes, you make the sacrifice of commuting 45 miles one way every morning but that is one sacrifice to make to achieve the rest. Windemere and Gale Ranch homes will be your next Mission and there is no reason for prices to be slashed. Just observe the homes for sale in The Bridges- that is one community that is holding its values and desirability in a sustained manner. Prices came down but they are on the increase and so is the demand!! Homeowners are sitting on a gold mine and if prices become more firm, the low ballers will either exit or convert into realistic buyers. Fasten your seat belts, because this is going to be an exciting ride !!
Click Here to view a list of home available for Sale in Windemere San Ramon CA
Start Your Foreclosure Home Search
Click here to start your search for investment properties
New Listings in San Ramon CA
For a Viewing of the beautiful homes on Fioli Loop and other homes in the San Ramon/Dublin and Pleasanton area, contact
Rama Mehra @ 925- 236-0375 or Sunil Mehra @ 925-698-1816
Rama and Sunil Mehra are available to help you with all your real estate needs including relocation to San Ramon CA, Dublin CA, Pleasanton CA, Danville CA and other nearby areas.
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Specializing in homes for sale in Windemere and Gale Ranch in San Ramon California; Dublin Ranch; Danville. Certified Pre-Foreclosure Specialist, Distressed property expert.
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