2008 was a Doozie in Real Estate

For some reason, I stopped writing in my blog back in July. I'm not sure why -- lazy, the crazy market revealing the same things, I don't know.

Anyway, I'm back with a recap of 2008. All year long, those in the real estate business, kept saying we had hit the bottom. I said it too. Now those in the know are saying mid-2009 will be the bottom. I don't buy that either. I think due to higher unemployment and mortgages that will continue to reset, we are looking closer to 2012 for this whole mess to be over and back to a stable market. It's not a bad market, but it's definitely a sad market for those going into foreclosure due to job loss, adjustable rate loans, relocation and other hardships.

Of the listing appointments I go on, the majority are for short sales. Homeowners who are upside down on their mortgage and unable to make their payment due to some hardship. The stress and anguish these sellers go through can be unbearable. Many of these sellers shed tears during the appointment. It's heartbreaking. No one wants to lose their home. It's a family's one safe place and when you lose that safe place, the bottom falls out of your world. I can only imagine how hard that must be.

I really want to see the end of the market, but not only because I'd like to make a better living, but because it's just so sad. This sadness trickles down just as our "boom market" trickled up.

Here's to a new beginning in 2009.