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John Picciurro's Blog

By John Picciurro | Agent in Staten Island, NY

The real estate economy is waiting, so lets get a move on!

OK, the kids are back to school, the conventions are just about over, 300 billion dollars have been set aside for the real estate economy and mortgage industry. SO, lets jump start this sucker!

Oh yeah, we still have to elect a President of the United States. Well I won't say who I will vote for because it is not a factor here, but either way, whoever gets the job has promised to fix the ongoing problems we have in the housing and mortgage industry, and everything else.

I know the holidays are coming soon and things slow down anyway. So, we will made it a New Year's resolution to go back to work. Come on, does anyone really want their lives and careers to be put on hold any longer. Let's get back to work now!

The cost of living is going up with gas, food and other important quality of life necessities. So why do we want to continue to suffer like this, and be stuck in the mud with it all. I guess Washington will let us know when it's time to get our get-up-and-go - moving again. Washington does not want to do it too soon though, until someone can get the credit for it. 

Maybe too many people have just given up, I don't know. But I'll tell you this. Did you ever hear anyone say that the TV news industry is cutting back because of the economy? Not enough
news stories to cover. No, you haven't. This slowed down economy is big news for them. They broadcast the doom and gloom everyday, and it keeps them employed. Their big news story is to tell you that you were just fired from your job!

Have you ever heard a news story about people actually being hired by a company? That's not bad news, it's good news.

Home ownership that was a dream for all, has now become a dream for few. The family that worked hard and invested in this great country and wanted just their own little piece of the pie, is left with the crust and the dirty dishes. And the media makes it sound like it's the Broker and buyers fault all this happening. 

I think it's time to get going, and not wait for the starting gun to be fired. Let us make it happen for our own good. Listen Sellers and Buyers - Home ownership is the backbone of the US economy, and should not be treated like a broken back! Get you own home now, don't wait to be told when the time is right. It's right now! 

Banks and mortgage companies have heard the news too, and I hope they got the message! I know Realtors have.  


By Susan Graves, CRS GRI e-PRO,  Thu Sep 4 2008, 08:29
I think it is important that consumers talk to REALTORS in their local area for market statistics and a more accurate picture. Watching and reading information from media that is nationwide may not pertain to the particular area the consumer is in.
By NonRealtor,  Thu Sep 4 2008, 09:12
The local realtor has lost credibility.
By David Nuss,  Thu Sep 4 2008, 09:26
John, Thanks for challenging us all to move on with life and not sit around waiting for someone else to take charge.

Summarizing the previous two comments and adding my own, bottom line, the buyer has to take some credit for borrowing more than they can afford and relying totally on what some one else tells them, when they (the buyer) have a gut feeling that it sounds too good to be true.

Let's (all of us - Buyers, Financers, Realtors, etc.) get back to work, roll up our sleeves, and proceed with doing business the good old fashioned way. Realtors and finance folks should give buyers all of the facts, as most already do - now and in the past. Buyers make good decisions, based on those facts and move on with life.

Let's get our lives back on track and learn from the past, but definitely don't wait for a new President, the Congress, or some BIG bank CEO.

By Sj209,  Thu Sep 4 2008, 09:30
This is a great country, the land of opportunity. Let's get er done!
By Trulia Roger,  Thu Sep 4 2008, 11:42
Homeownership may be the backbone of the economy, but if said homeownership is predicated on very, very questionable financing, as it has been for a few years, I say let it fizzle out on its own. Throwing good money after bad is never a good solution, and propping up an economy that's based on falsehoods and excess is morally bankrupt. I'm sorry for the qualified professionals in various industries who are suffering from the consequences of a down market, but this market simply HAS to clean itself out.
By Angrybuyerinsi,  Sun Sep 7 2008, 09:36
This blog post is ridiculous. It's doing nothing but encouraging people to take on a 30 year commitment on a losing investment when they clearly don't have the money for it. The economy is experiencing troubled times, peoples' budgets are getting stretching, and the middle class, YOUR clients, are getting squeezed like never before. Maybe as agents, you could encourage delusional sellers to lower prices and move property. $350K is not what I would consider a "handyman special" or a "great starter home!". Houses are only worth what people are willing to pay for them. Sorry, but you'll never convince me that "now is a fantastic time to get started" when the average home price is 5 to 8 times the average household income (I'm sure you have stats to refute that). The point of having a home is to live in it, be happy, and grow old. It's NOT designed to stagnate life.

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