You may not know it, but your entire real estate team is on drugs. I have no solid data to back me up nor do I have any government statisticians waiting in the wings to email me with hard evidence. But all the signs are there: rapid mood changes, panic attacks, a rapid staccato style of talking, dark circles under the eyes etc. Drugs. They’re bad mmkay?
The drugs in question are likely to be rather tame in comparison to what comes to mind when thinking about hard-core addicts out there that are stealing metal from bridges for drug money (this event really did happen and I still can’t fathom how odd the behavior of tweakers tends to be). Real estate is not for the faint of heart in this market nor is it for those without a steady supply of caffeine, nicotine, Xanax and/or tequilla. The odds are good that your real estate professional is high on Starbucks when they meet with you. And remember when you told them you were interested in buying that single wide manufactured home in Alberta, Canada instead of the home in Forest Heights? I’m guessing tequilla was needed later in the day. Or maybe five minutes after the meeting was over.
With rates dropping so dramatically in the last couple weeks, activity in the market is up. Appraisers are busy, escrow officers are trying to fit 28 hours into each day and Realtors are driving 500 miles per day showing properties. And as for us Loan Officers? We have a phone on each ear while we are texting and returning emails. Our assistants stare at us wide-eyed as we hand them yet another refinance to fit into the current month. Later in the day when we hand them a transaction that has to close in two weeks because another lender couldn’t perform we realize it’s the last straw and duck just in time as a ceramic coffee mug shatters where our head was just a split second ago.
It’s always exciting when the market is busy but inevitably increased activity will lead to increased stress levels. In my opinion, pressure is inevitable when moving vans are involved.
My advice to everyone – consumers, Realtors, Loan Officers, Escrow Officers, underwriters etc – take a deep breath. Take a break occasionally. Take your dog for a walk. And, if all else fails, grab a cup of coffee and put on your racing shoes.
See you at the finish line.