Disturbing Mortgage Trend

It seems that lately I keep talking to people who are ready and willing to walk away from their mortgages and face foreclosure - I can't blame them. Last year we all faced rising insurance rates coupled with higher property taxes. That, along with the fact that here in Florida many of us are in businesses that are affected by the real estate market so we've had to go through 1 - 2 years of a seriousely depressed market. Today I spoke with one person who had an invesment property that has been for sale for well over a year, she is now dipping into her retirement savings to make the mortgage payment. We both agreed that there will come a point - sooner than later - when the retirement money will be more important than the condo and she says that when that time comes "the bank can have it back." Another person has her house up for sale because her husband is being transfered, she has it priced well below market and is even willing to take a loss to sell it but it no one is even looking at it. I myself saw a nice house for rent close to mine that is on a canal with a boat dock for half of what I pay for my mortgage, and the lawn and pool care are included! Oh, too just call the landlord when something needs fixing.....! Right now home ownership is overrated!

Slow in Sarasota

Wow! I have to say that this slow economy is finally on my doorstep. I usually receive many more calls than I have been during the month of October. However, I have learned from the past that when times are slow you take advantage of the opportunity to review your business plan, make changes, reassess what you are doing to get customers and think of new ways to get customers and make new contacts. So, that's what I've been doing.

Some of the changes I've made are where I network. For four years I have belonged to the Longboat Key Chamber and I have done all my networking there. For a short time I belonged to Sarasota Young Professionals but found that it was not "professional" at all. People told me years ago that I should attract business from Lakewood Ranch and although I had a couple of customers from there, I've never actually "tried" to get business from that area. Well now is different. For a small fee I was able to join Lakewood Ranch Business Alliance. A large group of businesses operating in LWR. I am really happy with the value of this membership. I am able to attend luncheon's and after-hours networking events where 200 people and more show up! It operates as well as any chamber in the area. Also, during my business evaluation I decided that I wanted to attract international clients so I joined Sarasota Sister Cities and Sarasota Association of Realtors. I haven't done much with either so far. Right now I think I will focus on the Sar. Sister Cities since many members have the same mindset as me. SAR hasnt impressed me much so far.

I've also placed ads in newspapers offering a wider range of services and holiday decorating. I've found that people ask their housekeepers and pool guys to care for their property while they're away and so I've decided to offer discounted property management services. So, I'm still focusing on Longboat Key, but I've recently added Lakewood Ranch as a viable area to establish my services as well.

As I mentioned above, I recently started offering Holiday Decorating services and my ad should come out next Thursday. I hope that it is well received as this would be a very fun outlet for my creativity. I love decorating my own house and have 3 trees and an extensive ornament collection. I also mentioned in the ad that I would do businesses as well.

Well the main point is that I've put a lot of effort and energy into finding new business and in my mind you cant put that much energy into something without it paying off in the end. I recently saw a special on CNBC in which Donald Trump was the guest and one of his points about being successful in your business is to "Be Tenacious!" and that's something that is sticking with me and will be part of my mantra!