07/06/2024
Crazy thing I've noticed lately: There are way too many complainers!
Case in point:
- Some complain about someone renting their home or a room and how expensive it is, saying the landlord or owner is out of their mind!
- Some complained over the holiday that the fireworks were too loud!
- Some complain that the county that they live in should do something to help them get on in life because they work in said county, yet living in it is too expensive!
- Some complain that the sun is too damn hot!
- Some complain that mortgage rates are too high!
- Some complain that home prices are too high!
What in the world?
The list goes on and on.
And you know what? It doesn't matter what the complain is about. Complaining won't change the situation.
Instead, let's focus on what can be changed, and that starts with our mindset. Recently, I heard a colleague of mine, Erin Finke, The Mortgage Mama, shared something that I thought was pretty cool!
You want to know what it is?
"You Made the Wake Up List Today. You're One of The Lucky Ones!"
Simple, but darn if it's not the truth! Thank you, Erin Finke, The Mortgage Mama! Although, we'll JUST skip over who's blessed with such wisdom and love in the morning! LOL!
Speaking of those complainers about landlords or owners trying to rent a room in their home for a price, that doesn't jive with what they are willing to pay. Here's my advise: no worries, just go find another place that you can afford. Ridiculing the landlord or owner does not change your situation.
And speaking of those that complain that mortgage interest rates are too high. Here's my advise: no worries. You may not be able to afford where you really want, but if you can manage to sacrifice [we'll come back to this word (sacrifice) another day], a little inconvenience and move further out from where you work, guess what, you will likely have some equity in your home, and one day you can actually say , "Well, hot-damn, that was not too bad, after all!"
That said, just so you know, we are still helping many people even those that are probably making way less than maybe you, buy a home today. For instance, I am currently helping a buyer, look at homes up to $413K in Montgomery Village. He makes less than $90K a year and has a little over $17K saved. I'm proud of him, but what I am really proud of him for is that he may not need to use any of his money to buy a home. In fact, he does not want to buy that much and is okay to buy a small condo. We did the math together and at the $413K price, he may only need to spend $0.93 out of pocket . Now, you may be wondering and saying, "Paul, you are full of it!" But I kid you not, it is possible. The question for him, is will he be comfortable with going big or small. Everything so far in our conversation indicates he is jumping in and swimming, as they say!
In 2008, during the Great-Recession, there were a two camps of people. There were those that perceived, buying a home at that time was irresponsible and foolish. It did not help that at the time, it seemed that everything the media was talking about was all "Doom and Gloom" of how buying a house was a terrible idea! Yet, on the other side, there were those, who, through all that noise, saw opportunities! They bought homes; some purchased 4-units property in DC for cents on the dollar. I know. I helped financed some of them to purchase those homes by only putting 3.50% down. One client in particular, purchased a 4-unit property in DC for less than $190K. Since then, had converted that property into condos and sold them each.
Back then, I posted on a Social Media Forum responding to a real estate agent that posted that despite all the gloom and doom; it was the right time for people to buy a home. [I like that real esate agent, by the way! She's still crushing it today, just not in my market but I like her all the same!]
Yup, this post is a marathon. If you've reached this point and refrain from griping about it's length, bravo! For those who skimmed or skipped and resisted the urge to moan, you've earned yourself a virtual high-five. No complaints here!
So, where are you going to stand? Be a complainer or be a doer!
