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    Hey Media…It's 2012 in Real Estate! (See other side)

    Hi!

    I’m trying to get over a cold that’s hung on for 2 weeks now and so every night…It’s Night Time cold medicine and the promise of a nights sleep like those we enjoyed before car payments, credit cards and mortgages…I actually don’t mind colds too much because it allows one to medicate to sleep without remorse!  Last night as I was JUST about to fall off into that sort of sleep…I hear a news report on TV (I need to have it on to fall asleep…It’s just the way it is) about how the short sale process is getting harder…???  Really!?  And that sellers are being made to sign promissory notes!?  REALLY!?!?

    Well…I pry my eyes open and watch in HORROR as these completely “slanted” and misguided statements pille up together like cars in the daily accident on 595 at rush hour to make the segment into a report!  I have placed the link to the video below to help you see what made ME so angry.

    As a Realtor until 2007 I stayed as far away from short sales as I could…I wanted NO part of them at all.  But then I learned my title company that I have used and trusted for years has a team dedicated to them and so reluctantly I began listing them when asked to…That was a very good decision as my team now handles numerous shorts every month!  Transfer Title does a great job for me and my clients!  As the media reported last night…Sellers are being asked for promissory notes, subject to deficiency judgements and credit score consequences…True to a degree…But this is NOT what we in the field are seeing!

    While it is true that cash contributions are normal, they are often PENNIES on the dollar and while it is true banks reserve the right to file a deficiency judgement for up to 5 years…For 5+ years now, short sales have been closing…And none of the clients I have helped…Nor ANY I have heard of…Have been approached to sign a judgement!

    I just wish MY news channel…(And I am SO considering changing over this!) would get more information before they put out what can only be described as half the story…Is the other half being put on tonight’s broadcast?  I’ll delay “drugging up” to see it!  GRRRRR (cough, cough!)

    -Jeff

    http://www.local10.com/news/Fla-law-allows-lenders-to-collect-years-after-foreclosure/-/1717324/8620184/-/132cr2d/-/index.html

     

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    2 Responses to “Hey Media…It's 2012 in Real Estate! (See other side)”

    • Mark

      Written on

      Well my first comment got nuked into cyberland when i tried to move around in your Blog. Man this is slow technology.

      Well how does it feel when your industry is misunderstood by those who do not make a living in it. Not pleasant when people make sound bites out of something that is big and complex and understood by the proecssionsals who manage the business (that’s why we have professionals to call on). Isn’t frustrating when the problem is vast, but the story is half (or less). I wonder if this ever happens to other businesses?? (grin) Or maybe image and issues and media conflict are just a problem for real estate?? (grining bigger with one squinted … you know the look) Is it possible that big complex global industries may suffer for fast, uniformed illiterate conclusions by outsiders? I realize that media have people who specialize in their field of reporting (e.g. real estate coverage, coverage of the auto industry, the medical profession and others), but they really only know what the business tells them. Outsiders are outsiders. Slant … this country is on media tilt. The teeter-tooter split in half a long time ago and that split began with disdain for business. But hey making a buck is crime. You are not entitled to profit from your hard work. Profit in real estate is bad. (biggest sarcastic grin yet)

      Well I am sorry you lost some sleep, but I doubt you are the first business executive to lay in bed thinking they just dont understand, wishing they could have delivered the true message instead of some talking head who is now on to the next punch line all the more while ratings drop because we have switched over to Big Bang Theory instead of the nightly news.

      How did I do on my first blog response ever…(Jeff you will have to send me a note, i did not tick the box for the follow-up comments via email)

      Reply
      • The Chenore Real Estate Group

        Written on

        Ya dun GOOD Cuz! Big Bang indeed!
        I’ll apologize a bit for my rantings at you at Christmas…But now I guess I see how you may have felt just a bit. The difference is however when YOUR industry makes a mistake people die…Mine…People sue! So wait…That’s almost about even!

        Reply

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