{"id":2615,"date":"2008-02-18T13:18:38","date_gmt":"2008-02-18T20:18:38","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2615"},"modified":"2008-02-18T13:18:38","modified_gmt":"2008-02-18T20:18:38","slug":"the-light-at-the-end-of-the-tunnel-is-really-an-oncoming-train","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2615\/the-light-at-the-end-of-the-tunnel-is-really-an-oncoming-train\/","title":{"rendered":"The Light At The End Of The Tunnel Is Really An Oncoming Train"},"content":{"rendered":"

Snowball Effect Continues To Negatively Affect The Housing Market<\/strong><\/p>\n

We might be in for a bumpier ride than previously thought. I believe in optimism – but I am a realist, first. As I look closer at the stats, talk to other brokers and agents, and peruse the news and blogs – it’s getting downright scary.<\/p>\n

Last week here in Atlanta, Century 21 Dwellings closed five of its six offices. Dwellings President Chris Ballard said, “It was a financial decision. I was losing money at every location.” With red ink flowing at the rate of $75K a month – you can appreciate his decision.<\/p>\n

I recently discovered that a few of Atlanta’s top agents were getting killed<\/a>, as well. Agents that had done hundreds of sales per year no longer able to hit a hundred sales in the last 12 months.<\/p>\n

Speaking with a few builders has been interesting, too. My first inclination is that the availability of labor must be plentiful and cheap – but that’s not necessarily the case. Many of the illegal aliens have returned to Mexico. One Mexican contractor – with six trucks – now only has one in service at any given time… and even that one isn’t always in service.<\/p>\n

The dirty little secret is that many of these illegal aliens were able to purchase homes – but with no work, they are simply leaving the house behind as they go back to Mexico. It’s not like they are out a lot of money, either. Many of them were financed with “no money down” mortgage products, including option ARM’s.<\/p>\n

Atlanta has seen an average of 3000+ foreclosures per month for several years now – but last month we had just under 7000 foreclosures… and the storm is still coming.<\/p>\n

Foreclosures are the lion’s share of the Atlanta resale residential market right now, and with the onslaught that is coming – that fact won’t be changing anytime soon in this writer’s mind.<\/p>\n

So I am into the bunker mentality right now. I haven’t taken on any clients that I am not convinced that I have a better than 50-50 chance of earning my Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Snowball Effect Continues To Negatively Affect The Housing Market We might be in for a bumpier ride than previously thought. I believe in optimism – but I am a realist, first. As I look closer at the stats, talk to other brokers and agents, and peruse the news and blogs – it’s getting downright scary. […]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,10],"tags":[],"class_list":{"0":"post-2615","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","7":"category-realty-reality","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":789,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/789\/maybe-we-need-more-salaried-agents\/","url_meta":{"origin":2615,"position":0},"title":"Maybe We Need More Salaried Agents","author":"Doug Quance","date":"December 21, 2006","format":false,"excerpt":"I've been running some stats on advertising, Google rankings and agent performance over the last couple of days. One of the top agents in Atlanta has not had a selling-side transaction all year. Very unusual for this agent. Another top agent - who ranks very high in Google and has\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1041,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1041\/is-your-broker-profitable-rent-a-broker-shops\/","url_meta":{"origin":2615,"position":1},"title":"Is Your Broker Profitable? – “Rent-A-Broker” Shops","author":"Brian Brady","date":"February 13, 2007","format":false,"excerpt":"The 100%, desk fee model was made popular some 25 years ago by one HUGE national franchisor. There have been several companies that have adopted that model and had equal success. Essentially, the business model is along the lines of \"rent-a-broker\" for a flat fee per month. The term \"rent-a-broker\",\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18328,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18328\/overnight-news-why-do-i-pay-buyers-agents-more-than-i-pay-myself-because-theyre-worth-it\/","url_meta":{"origin":2615,"position":2},"title":"Overnight News: Why do I pay Buyer\u2019s Agents more than I pay myself? Because they\u2019re worth\u00a0it.","author":"Greg Swann","date":"July 18, 2021","format":false,"excerpt":"After actually reading his settlement statement, not as common as you'd think, a seller remarked that I had paid 60% of the sales commission to the Buyer's Agent. Why hadn't I taken the lion's share, or at least split 50\/50? My answer was simple, one you will have read here\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11498,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11498\/obamas-short-sale-program-could-put-downward-pressure-on-home-prices\/","url_meta":{"origin":2615,"position":3},"title":"Obama’s Short Sale Program could put downward pressure on home prices","author":"Al Lorenz","date":"March 8, 2010","format":false,"excerpt":"Mr. Obama's latest program for the foreclosure crisis attempts to stabilize the market in a different way than his previous attempts.\u00a0 Before, the feds tried to keep people in their homes by negotiating reduced payments through loan modifications.\u00a0 Few people were able to use the programs and of those that\u2026","rel":"","context":"In "Carnival of Real Estate"","block_context":{"text":"Carnival of Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/carnival-of-real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":641,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/641\/i%e2%80%99m-all-in\/","url_meta":{"origin":2615,"position":4},"title":"I’m all in","author":"Russell Shaw","date":"November 16, 2006","format":false,"excerpt":"I'm all in. Meeting Greg and Cathleen was good for me too. I really enjoyed the time we spent together. As all of the regular readers here already know they are very cordial and intelligent people. 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