His Prognosis

It was an up, out and at em for me this morning due to my having early appointments to prepare for, as well as readying myself for my public open house this afternoon. While on my way to work, it appeared we received a measurable amount of rain last night, which will help to keep everything green a-growing.

My first appointment out of office, was a scheduled showing of the last 2 bedroom unit over at Prairie Place on 1st. It was a good showing, and from what I gathered, I suspected they’d be calling for another showing, which they did later this afternoon, so it looks like my Sunday morning “dance card” is already filled. Unless there’s a sudden change in direction, I’ll not be surprised if they’ll be the ones buying that unit. If it be the case, there’ll be only one remaining. If it were not for the pandemic, those remaining units would’ve been sold many months ago.

With the extra time it takes to show those units, I barely had time to get a quick lunch eaten before I had to be over to my public open house. The turn-out wasn’t as good as I would’ve liked, but at least it got a little more online exposure. The last arrival seemed the most promising, so we’ll see if he calls for a second showing.

Right after my open house, I had an appointment to meet a buyer at my office to write an offer on a home, and just after my preparations were made, he walked in the door. I went ahead and filled out the offer form, and then went over it with him, just to make sure all the terms and conditions were correct. After all the initials and signatures were applied, I made copies of everything for his records.

After he left, I went ahead and scanned and emailed it over to the listing agent with a few added notes in the body of my email, just to make sure that agent was fully up to speed with the how clean the offer was. We’ll see what happens with it, as whenever I have an offer with that agent, they almost always end up going sideways.

Just after I finished, I headed out to a second showing of a home which the buyers had looked at several days ago. Since they’re not from our area, I had to bring them more up to speed with our market conditions, because as we all know, looking for a home in a different environment, could end up being a case of mistaken identity in regards to the marketability of homes in certain districts.

The husband posed the question, “Do you think it prudent to be buying in a seller’s market in these times?” I couldn’t be fully specific, but I did say it all depended upon how much was paid and how long a person expected to live in a home. As we all know, our futures are not cast in stone, but as long as we can make sound and non-emotional decisions, then we’ve got a better chance at make the right ones.

We then spoke about how easily people can find themselves in pre-foreclosure conditions when having purchased with little on no money down, and then buying at the top of their debt-to-income ratios. There are too many variables which are out of our control, such as the cost of goods and services, real estate tax hikes, gas prices, food, and the list goes on. But the scariest of such a scenario, is if there are two wage-earners who were qualified for their big mortgages by using both their incomes. Now that’s a set-up for failure when knowing people don’t stay put in their jobs like they used to, and since our digital age continues to cut more workers from their positions, the likelihood of being axed from a good-paying job becomes more of a reality.

I couldn’t help sharing a few stories about what happened during the Savings and Loan Crisis, and then the most recent being the 2008 Crisis. I was then asked what I believed would happen if this impetuous buying continues. I now have only two possible outcomes, and the first one being our real estate market is going to end in a the fashion of a high-speed train hitting a brick wall. The other possibility, is we’re going to enter into a state of hyperinflation which our Country has not experienced in modern times. If the prices of our basic goods including food continue to rise, then I’ll wager we’re already heading in that direction. Now please don’t think me a negative person, as I’m indeed not, but rather a chronic realist with a sentimental overlay.

Somehow we got on the subject of the dynamics of society in today’s America which is the most troubling to me because of the polarization that going on. I had to remind him that there are people in all walks of life who’ve allowed themselves to be duped into believing all the propaganda that our various new outlets are blasting at us on a daily basis. I gave the example of how certain people I personally know, would not believe one ounce of truth if it were laid out before them, and only because they’ve taken themselves far past the point of debate. I’ll wager each and every one of you know at least one person who’s like that. I personally had a step-father who was so steeped in his own fake information gathering, he’d refuse to even listen to someone truly in the know.  I’ll never forget hearing his prognosis of another’s back problems as being nothing more than a case of veracious veins. Yes, I actually heard it with my own ears. Now draw a few comparisons with what’s being said and done in our political arenas.

Those fires up in Canada have sent us an un-wanted smoky haze which has been watering the eyes of people who’re asthmatic, along with those who having allergic reactions to the particulates in the smoke coming from burning wood. It’s now reminding me of the times I’d driven thru smog-filled metro areas. Los Angeles always seemed to have a haze like today’s.

Tonight’s One-liner is: Hearty laughter is a good way to jog internally without having to go outdoors.

Joe Chodur

About the Author | Joe Chodur

First of all....Joe Chodur really doesn't like talking about himself but this is what we have found out about him.

Joe Chodur began his real estate career in 1981 during the...read more about: Joe Chodur

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