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Wednesday, April 22, 2009


Mark Twain and his good friend the writer, William Howells were leaving church on Sunday when it began to rain heavily. Howells looked up at the clouds and said, “Do you think it will stop?” “It always has,” replied Twain…

I started working in the real estate business in 1979. Interest rates were 17%. Banks were not lending. In order to sell homes, we were “wrapping” loans, doing AITD’s and using many other methods, which by today’s standards would probably result in a quick indictment at best in some cases. People were losing their homes then too, but we survived.

In the early 90’s we experienced a similar climate. The economy (especially in my area) was challenged by many factors. We lost our aerospace economic foundation in the South Bay. California lost many profitable manufacturing businesses to other states. Again, some of our families lost their homes, their jobs, their dignity but we survived.

In comparison, more than 1000 banks closed in 1930 – only 14 U.S. banks were taken over in 2008. There are 76 million households in the U.S. that own their home - 24 million of these homes are FREE AND CLEAR! There are 52 million homes with mortgages - 97.2% of these are NOT in foreclosure, 93.8% of these homes are CURRENT on their payments.

I see the clouds in the sky too but I also see that clouds cannot remain constant, by their very nature. Time passes, things chance and as the philosopher Heraclitus said “You could not step twice into the same river; for other waters are ever flowing on to you.” Enjoy this time of abundance for many and growth and change for us all. Make the most of the positive aspects of today’s economy. It’s never as bleak as the media portrays. Remember, bad news sells, good news revives and this too shall pass.

Call for help if you have a loan challenge. As a Certified Distressed Property Expert, I can help you in saving your home or help you in purchasing one of todays abundant REO’s or “short sales.” As my friend Sam always tells me “It’s all good, Charlie, it’s all good.” The rain always stops!