Last Thursday, I was at Supreme Manor Real Estate over in Beverly for the grand opening of their REO division. In addition to myself, Alex Coffey, Dr. Equity was there (as always), Cecilia Marlow from Pan Am Lending, Galenda Love from Northern Trust, Denise Confer from Draper and Kramer and Jim Lamson from Citimortgage was there. Before the presentation, we, including Annette Dewberry from Supreme talked about the state of the real estate industry. Now, what was interesting was everyone there had at least 6+ years of experience. Who was to blame for the market?
buyers who knew they couldn't afford the house in the first place
unscrupulous lenders
unscrupulous agents
Wall Street
unscrupulous appraisers
There's enough blame to share, anyhow, most of us around the table are glad to see those people who gave all real estate professionals a bad name by their poor business practices leave the profession for good. The time now is for solid real estate professionals to step up and really take care of their clients the right way.
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