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Started By
Message
As far as a microcosm of the economy from a Realtor perspective
Posted on 3/26/20 at 7:07 pm
Posted on 3/26/20 at 7:07 pm
I live in northern Idaho now and the first half of last week was just horrible. Lost four deals due to people freaking out and lost one more the beginning of this week. All in all probably about 65 grand worth of commissions. Not that I keep all that because I have a lot of business expenses with marketing and stuff that I can’t just turn off right now. Needless to say from a selfish and personal standpoint I was in a pretty bad spot mentally with how work was going.
However, over the last three days I have put one of my listings in Washington under contract and got another offer on a different listing. I also put two houses under contract in Idaho.
The only reason I’m even saying all this is because I think this economy is ready to rip back. Sure everybody was freaked out at first including myself with the unknown but there is a strong sense that many people are determined to get back on with their lives and get the success that is American back on track.
However, over the last three days I have put one of my listings in Washington under contract and got another offer on a different listing. I also put two houses under contract in Idaho.
The only reason I’m even saying all this is because I think this economy is ready to rip back. Sure everybody was freaked out at first including myself with the unknown but there is a strong sense that many people are determined to get back on with their lives and get the success that is American back on track.
This post was edited on 3/26/20 at 7:25 pm
19
Posted on 3/26/20 at 7:08 pm to EGCROSS
I pray you’re right.
Posted on 3/26/20 at 7:10 pm to EGCROSS
Moscow/CDA?
Posted on 3/26/20 at 7:10 pm to wutangfinancial
I live in Post Falls but yeah all the CDA area and Spokane
But Moscow is out of my MLS range.
But Moscow is out of my MLS range.
This post was edited on 3/26/20 at 7:12 pm
Posted on 3/26/20 at 7:12 pm to EGCROSS
I have a pest control company and we do WDO's for the sale of houses. That part has slowed down a bit, but I'm still doing one or two a day, as opposed to 3 or 4 a day.
On the pest control side of things, if I didn't watch the news, or read this site, I'd have no idea this virus was a thing. Just as busy as ever.
On the pest control side of things, if I didn't watch the news, or read this site, I'd have no idea this virus was a thing. Just as busy as ever.
Posted on 3/26/20 at 7:12 pm to EGCROSS
Have an upvote for a strong positive attitude.
Getting rate these days.
Getting rate these days.
Posted on 3/26/20 at 7:13 pm to EGCROSS
quote:The funding markets have been really screwed up the past 5-10 days also. For non-QM (not sure if any of your clients use those), several of the originators have actually temporarily shut down. Warehouses and other leverage lines have been called. Good luck!
I live in northern Idaho now in the first half of last week was just horrible. Lost four deals do to people freaking out and lost one more the beginning of this week. All in all probably about 65 grand worth of commissions. Not that I keep all that because I have a lot of business expenses with marketing and stuff that I can’t just turn off right now. Needless to say from a selfish and personal standpoint I was in a pretty bad spot mentally with how work was going.
However, over the last three days I have put one of my listing in Washington under contract and got another offer on a different listing. I also put two houses under contract in Idaho.
The only reason I’m even saying all this is because I think this economy is ready to rip back. Sure everybody was freaked out at first including myself with the unknown but there is a strong sense that many people are determined to get back on with their lives and get the success that is American back on track.
Posted on 3/26/20 at 7:13 pm to EGCROSS
quote:
The only reason I’m even saying all this is because I think this economy is ready to rip back. Sure everybody was freaked out at first including myself with the unknown but there is a strong sense that many people are determined to get back on with their lives and get the success that is American back on track.
Its all those New Yorkers moving in.
Get yourself tested baw
Posted on 3/26/20 at 7:16 pm to Big Scrub TX
quote:
The funding markets have been really screwed up the past 5-10 days also. For non-QM (not sure if any of your clients use those), several of the originators have actually temporarily shut down. Warehouses and other leverage lines have been called. Good luck
I definitely stay out of the lending other than what I have to answer before I send them over to a lender if they don’t already have one. But so far my lenders have still been closing things and I haven’t heard about anybody not funding unless they have lost their jobs or normal things like that.
Posted on 3/26/20 at 7:17 pm to 14&Counting
quote:
Its all those New Yorkers moving in
Lol it’s all California movers here. But 95% or more of them are all Trump supporters trying to get away from the madness it is Cali.
Posted on 3/26/20 at 7:22 pm to EGCROSS
quote:That's good. In commercial, lenders have really backed away.
I definitely stay out of the lending other than what I have to answer before I send them over to a lender if they don’t already have one. But so far my lenders have still been closing things and I haven’t heard about anybody not funding unless they have lost their jobs or normal things like that.
Posted on 3/26/20 at 7:23 pm to EGCROSS
Lol, I think New Yorkers are moving to said Idaho to escape baw.
Posted on 3/26/20 at 7:30 pm to EGCROSS
I think the bounce back will be strong.
A lot of confidence was lost in 2008 and 1987 because people didn't understand what happened, why it happened, and could it happen again.
This problem is a lot more clear as to the how's, why's, and when's.
A lot of confidence was lost in 2008 and 1987 because people didn't understand what happened, why it happened, and could it happen again.
This problem is a lot more clear as to the how's, why's, and when's.
Posted on 3/26/20 at 7:35 pm to EGCROSS
I feel the same way about the economy so we've bought some small dollar stocks. Worst case is that I'll lose the 2k we've invested in them. However if the economy takes off like I think it will, we will hopefully make a few extra bucks.
Posted on 3/26/20 at 7:40 pm to EGCROSS
quote:
The only reason I’m even saying all this is because I think this economy is ready to rip back. Sure everybody was freaked out at first including myself with the unknown but there is a strong sense that many people are determined to get back on with their lives and get the success that is American back on track.
Might be looking for a cabin about 15 miles from anybody and running water nearby for about 6 Mos... just kidding
I do figure many people will make a doomsday plan for something like this in the future. Go out and get off the grid for 6 mos or a year. Hang out with Big Foot. If I didnt have 90+ yr old parents to think about I would consider it.
Posted on 3/26/20 at 7:43 pm to EGCROSS
Well.. enjoy your 65k per week income.
Sux to be you, I guess.
Sux to be you, I guess.
Posted on 3/26/20 at 7:44 pm to EGCROSS
quote:
live in northern Idaho
God awful place that nobody should ever move to.
Posted on 3/26/20 at 7:44 pm to GetmorewithLes
It’s gorgeous up here man. I always wanted to live in the Pacific Northwest but didn’t wanna live in a blue state so Northern Idaho is absolutely perfect for me. Love the mountains lakes and trees here and there’s actually a lot to do with Spokane being so close by. I do miss the food back home but the lifestyle and quality up here is so much better. And honestly doesn’t get that cold for how far north we are. Much better than midwest.
Posted on 3/26/20 at 7:45 pm to EGCROSS
quote:
live in northern Idaho
Where are you? CDA? Sandpoint?
Eta: scrolled through and saw. PF. I still have one Silver Mtn condo left. I'm pretty sure I'm the only person who actually closed on their Phase III pre-construction contract. Wish I'd just defaulted. Brutal. In fact I may have been the last Fannie/Freddie loan on a condotel in the whole country. Lol.
This post was edited on 3/26/20 at 7:50 pm
Posted on 3/26/20 at 7:46 pm to McLemore
CDA
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