I have read many articles and blogs, from many realtors saying that, they had nothing to do with the housing market collapse problems and From many Home owners that have lost or in the process of losing there home to foreclosure! I find it very disturbing, to read such hog wash from realtors stating, the realtors had nothing to do with the huge fast selling of housing in the 2004 to the early 2007!
And the Huge outrageous housing increases in prices! Now lets see, A realtor sets the House asking selling price! The realtor lists the House for sale! The realtor helps the seller find a lender (mortgage company) to get a loan to buy a new house! And when the House that is being sold, the realtor, the present home owner and the new home owner to be! Are all at the closing of the sale and Purchasing of the House being sold and purchased!
It's well know, realtors and real estate companies use favorable Mortgage companies! Mortgage companies that give mortgages at a quite timely manner and have many ways to get mortgages approved!Even if it's not to benefit the buyer! And it's also quite known that many Housing appraisers are paid under the table, sort of speaking, to appraise houses higher then there really worth, to get the loan to go through, without a hitch! QUICKLY! A realtors dream sale!
Now don't get me wrong, the realtors are Not totally to blame for the Housing market Disaster, but are part responsible too! And instead of trying to degrade themselves so much, by trying to eliminate themselves from the truth, I feel they should own up to it, as well as all the lenders that pulled almost every con they could to make the bad dishonest loans, just to fill there back accounts!
All the American people want, is the Housing market fixed and back to normal! I read the news papers everyday, and still see High buck for sale ads on houses being for sale through realtors! It seems many realtors, just don't get it! They Skyrocketed Housing prices and still are doing it, with the housing market completely shot! Go figure!
You would think, they would have learned from there past 4 years of selling homes, that if they stick to the High buck prices of selling a house, they will only degrade themselves that much more, and keep the housing market at a stand still for a very long time!
The average consumer, can not anyway in hell afford a 200,000 dollar and up home! Even If those few that could, would have to be totally insane to take on such a high debt for 30 years! No job has a guarantee in todays world! The housing prices have to be re-lowered to back to the way they were, before bankers and realtors started there dishonest money making scams on the housing market!
The bankers and realtors, caused the housing market problems, it's there responsibility to fix the problems they both had there greedy hands in! I'm tired of hearing the home buyers brought the foreclosures onto themselves! If the bankers wouldn't have scammed and pulled every con they could to make the loans, the foreclosed consumers would have never been able to purchase the houses! Fraudulent loans got them able to purchase the houses!
And I and many Millions of other consumers, feel the Government and President of the United states, have no rights helping crooked bank owners after the housing disaster problems of rapid foreclosures of homes from the fraudulent loans made by the bankers! The bankers should have to take the losses, they themselves created! Not get bailed out by tax payers expense! The tax payers had nothing to do with the greedy bankers and greedy realtors, so tax payers shouldn't always have to pay the bill of failures!
I believe and many others believe the President and Government need to get some laws past, that Bankers that give scam mortgages, can't so easily foreclose on homes anymore! There should be a new law put in place, that mortgage bankers, can't even go into foreclosure until 2 years in default! Many home owners don't even know, that when there home is foreclosed on, that when the bank finally does resell the foreclosed home, that any monies made over the mortgage debt amount, is to be sent to the person the home was taken from on foreclosure! The bankers pocket it all!
Another thing that needs to be changed on buying and selling a home! Is the Closing company needs to be more honest on how they do the sales at the closing! Most closers rush the consumers through the whole process and the buyers and sellers don't have enough time to read all the papers tossed out in front of them to sign! I feel a new law should be passed, that the closing company must send copies of all papers, that will be presented at the final closing, at least 48 hours before the closing, all copies of papers that will be used at te final closing, so the sellers and buyers can thoroughly read everything, so there isn't any so called hidden surprises!
I myself, have bought 3 different houses in my lifetime, and I found that, just as fast as you sign one piece a paper, they have another down in front of you to sign! The closers, rush the process along as fast as they can! Which then buyers and sellers can get into many problems, and not at there fault of there own! The closers and realtors want a fast and easy sale! There not looking for the best interest of the sellers or buyers! There only goal is to get the houses bought and sold! But yet they try to paint the perfect picture of how much there really on the buyers and sellers side in the house buying and selling process!
My last house I sold, After getting it sold with a realtor, weeks after I found out My realtor was the buyers best friend for many years, so I got sucked into selling the house cheaper, because my realtor all of a sudden said I need to sell it cheaper, to get it sold faster! And here all along he was getting the buyers, his friends a better deal on my house behide my back! And to top it off he was over at my old house, having a cook out with them a week after they bought the house from me! I would have never known, if I hadn't moved right across the street from my old house that I sold!
Well then I found out from my own sister, that use to be a realtor, that what My realtor did was very illegal and that he could have lost his realtor license very easily, if I would have taken him to court! But after checking around with lawyers, I found out it is very hard to sue a realtor or real estate company and very costly! So didn't bother! Many realtors want people to believe there only interest is you! It's very far from it! There only interest is to sell you a home or to sell your home to make there commission fees!
They are far from your friend! You sell your house or buy one, you will never see the realtor again, unless you go to them at there office, or are going to sell another or buy another house! Once they get there money from selling you a home or selling your home for you! They become invisible mighty fast!
So All I can say to all the bankers and realtors, fix the housing mess you All made, and start doing your job the Honest way, and consumers will show you respect you feel you deserve! Because if your not going to fess up to the part you had in the housing market collapse, respect will never come! Respect is earned, not just handed out because of a job title! And bakers have never been in the rental business, but the better think twice about going into the business soon, to get the Millions of foreclosed empty houses filled with people, before all there foreclosed empty houses become condemned, drug dealers hideouts, party houses, destroyed by break in's or worse, burned to the ground.
Bankers don't make any money when houses are sitting empty, maybe starting to be in the rental business of all the foreclosed empty houses, will at least bring in funds, that your not getting any funds from now! The longer the foreclosed empty houses, stay empty, the longer the housing market will stay crippled!
Plus the realtors are going to have to wake up and realize that the huge housing money machine days are gone, and that sitting on houses for sale for 6 months to a year, at house prices over 200,000 and up, are nothing more then a waste of your time! And maybe they should be working on getting the average house prices back around 150,000 or less, where they were before realtors and the bankers got greedy and destroyed the American dream of owning a home for the average American consumer!
American consumers can forgive, but they can never forget! It's time for realtors and bankers to fess up to there money making scams from the housing market and get fixing what they have caused! Time can heal, but to do nothing, is very degrading an disrepectful! The President and Government aren't suppose to fix your mistakes, you guys are responsible for your own bad businesses practices! And many consumers paid dearly for them!
CashnsaveCeo.
