I feel that my efforts are really beginning to pay off. That being said I have had a very rough month this month. Forever I have been seeing the media paint a devastating picture of the housing crisis and credit crunch. I saw all of the media, but I felt inwardly that it did not matter as it does not affect me. I know that certain markets are suffering because of some poor investment choices that investors in those regions made.
The Power Option ARM created a lot of buying power for individuals who were banking on the continuation of a Fluffed Up housing market. The demand was there so the prices kept increasing and as we went on it became obvious to everyone involved that our economy cannot sustain the growth that many of us benefited from during recent years.
I assumed that there was a lot of hype about what is going on and I also assumed that we were near the end of the bottom a few months ago. Well, I was wrong! We have not seen the bottom and I no longer believe that we are even close to it. As time continues to go on I realize that things are getting harder every day.
Guidelines still keep changing at a rapid pace in an attempt to correct a corrupted market. I have definitely felt the pinch this month in my business and in my income. Only a select few can survive in this market and I plan on being around for a while.
I really look forward to the "break" in the market. After having gone through this kind of a market I can get through any market conditions.
I mentioned above that I feel that my efforts are really beginning to pay off. While my month has been difficult I did aquire 2 new referral sources, 3 FSBO buyer magnets, and a couple of Realtors whom I've been in touch with constantly over the past 3 months have finally begun sending me business.
I have had many, many referrals this month and unfortunately I could not give a decision to lend in many of the cases. Some of the lenders whom I work with are now issuing a hit to rate for having a 680 credit score or lower. 680 used to be pretty good!
So, while I have had a very difficult month I am also confident in the fact that I am going to have a great year. Its all about keeping a positive attitude and being persistent! I wish you all continued succes. Have a great day!
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