Homeowners have gotten used to a lot of confusing news lately. Interest rates are low, but so are housing starts. The real estate market is getting better – no, wait – it’s not. But it will…soon. In fact, many residents on both sides of the Bay are wondering what to do with all the confusing information and advice they run across.
Debbie Houck is a local real estate broker and agent who agrees. “It’s too much to take in – at the very time that residents need a complete understanding of the marketplace and their position in it.” So she decided to do something about it.
On three Saturday afternoons this Fall, she and a handful of other professionals who work in real estate in the region will be holding office-hours in an office suite on Kent Island, with some donuts and cider and waiting for….you. “If I weren’t in real estate, I’m not sure I’d know which way to turn, frankly. There are dozens of programs, plans, loan mod regulations, thresholds – and the marketplace for homes itself is actually good in some areas, and soft in others.” With mortgage rates as low today as they have been since rates have been tracked, many residents in the early spring thought this might be a good time to jump in, says Houck. Too many, she notes, were simply unable to qualify.
Houck has been representing Shore residents in real estate transactions for 13 years, and has never seen a market quite like this one. She’s never been one to sit back and wait for someone else to do something, either. “The irony is, folks who have the money and time to dig into this issue will do well. They have a financial planner, a loan person and a real estate agent they like on speed dial. A few calls, they have their answer.” Why can’t we do that for everyone else? Houck and her agents wondered.
“Residents in the area who have questions about the real estate market, their position in it and how to make the best of their next real estate decision will find a half-dozen or more experts assembled over three Saturday afternoons. Kids are welcome,”says Houck, who knows that families with weekend soccer games and busy lives may need this kind of help the most. No preparation is needed to take advantage of the clinic – which operates on a free, drop-in basis. A “concierge” will greet participants, do a quick in-take and line up the right people to sit (or stand) and chat with each family or individual. Those who have complicated situations may need additional time.
Houck has been certified as a home-default counselor for over a year, and has stressed the value of that designation to her agents, many of whom have earned the same credentials. Her brokerage has handled dozens of short sales and prevented foreclosure with timely advice in numerous other cases. She’s hand-picked the panel and stacked it with the best in the area, she claims. Why did they agree to come and give away free advice? “I asked them to do it!!” she bursts out. In fact, each panelist contributed to the overall advertising budget, adds Houck. “It was a joint effort – each of these professionals saw value in providing real help to our community.” She’s gotten retailers to offer prizes to raffle away to get folks in the door and have some fun with the project.
As a broker, Houck recognizes that this may be giving away the milk – when selling the cow is really what she’d like to do. “It’s just not about a commission anymore. We recognize this is a very hard time for residents in this region. They are our clients, our friends, our neighbors and family: they’re uncertain, stressed out, and it’s easier to stop opening your mail and dealing with it. We all have to step up and work to turn this market right side up again. If we prevent one foreclosure with these clinics, that’s a whole neighborhood we’ve impacted – dozens of families. We’re going to have to do this one home at a time.”
For more information about the clinics, which take place at Rainbow Plaza on Saturdays, Oct 30, Nov 6 and Nov 20, from 1-5pm – check out www.yourhomesweethome.info or call EXiT Gold Realty at (410) 364-9009 or (410) 643-4111.