DON'T HELP THAT BUTTERFLY ESCAPE IT'S COCOON...

By
Real Estate Sales Representative with AgentOwned Realty

I had to break the confusing news to my daughter, who by nature, is a big animal lover and someone who is always ready to help.  We both watched that little butterfly struggle and writhe for more than an hour, trying to exit it's cocoon and emerge into it's new world.  She could not understand why I was so uncaring and unwilling to aide that poor little creature.  "Mama, it's stuck - help it!"

I carefully chose my words in explaining that "helping" the poor thing was giving it a death sentence for the days to come.  I stressed to her that in the struggle, these delicate beings develop the strength they will need to survive.  If they receive "help" they won't be strong enough in the days to come and will ultimately die.  Finally, her five year old mind wrapped around the concept and she backed off and began to cheer the creature on. 

I know firsthand that all of these new, seemingly rigid, mortgage guidelines can be totally frustrating; however, I can't help but think of the butterfly's cocoon.  For far too many years, many buyers have received detrimental "help" and have found themselves unable to survive financially as a direct result of that assistance. 

Sure, it's stressful and annoying trying to obtain financing in this already tough market, but ultimately, it will establish a healthier overall housing economy, with fewer future foreclosures.  The best example for us Realtors right now is nature.  Nature adapts and so can we!

 

If you are buying or selling your home in South Carolina, please consider my services.  Even if you are relocating outside our beautiful Palmetto State, I can assist you in locating a hard working Realtor for you.  Remember:  Timing is everything in Real estate! 

       Celina Gleason, Realtor - Million Dollar Producer with AgentOwned Realty of Manning

       Direct Cell:  (803) 473-6002  *   Email:  Celina@sc.rr.com    *  www.manningscrealty.com

 

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Location:
South Carolina Clarendon County Manning
Groups:
Club Chaos
Realtors®
Tags:
butterfly
cocoon
financing
rigid mortgage guidelines
tough housing market
healthier housing economy
fewer foreclosures

Comments 6 New Comment

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Rainer
22,517
Celina Gleason
AgentOwned Realty

Thanks for the comment, Virginia.  I feel for those families too - especially in situations where the proper education of the mortgage process was not explained to them.  Tough situation - those foreclosures. 

August 21, 2008 08:40 PM
Rainmaker
309,903
Sara Homan
Realtor, Homes, Farms & 55+
Coldwell Banker Ellison Realty 352-209-4044

Very good analogy!  I like the chick in the egg too.  Helping them will kill them.  C-section babies often have respiratory problems because they didn't travel the path God designed! 

August 21, 2008 08:41 PM
Rainer
178,990
Erik Hitzelberger
Louisville - Middletown Real Estate
RE/MAX Alliance - Louisville REALTOR-Luxury Homes

Celina - I think that your analogy is perfect for many buyers. However, to others, the overreaction is more like continuously throwing dirt on a budding flower.  Eventually it will just give up.

August 21, 2008 08:51 PM
Rainer
6,693
Stephanie Varney
Lichtenstein Rowan, REALTORS

Celina - beautiful analogy, I feel the same.  I also agree with Erik, in that there shouldn't be a knee-jerk crack down that will create further damage in this fragile housing market.  We need to get back to the basics, and offer help only to those who have shown that they have worked for it and deserve it.

August 21, 2008 09:15 PM
Rainer
22,517
Celina Gleason
AgentOwned Realty

Just wanted to clarify something.  First of all, thanks so much to you Sara, Erik and Stephanie for your comments!  Your opinions are valued more than you know!  After reading over my own post after your comments, it occurred to me that my thoughts were not completely conveyed in my original post. 

I did not mean to infer that we do not need to help families... as helping families is TOP notch on my priority list.  To bring a little more clarity, we need to be working harder than ever before on helping families KEEP their homes if at all possible.  We also need to help those who need to back out of their mortgage for reasons beyond their control (such as sudden unemployment, death, divorce, etc.) to work out a reasonable short sale situation.  I have been able to help at least three families avoid foreclosure this year alone!  In the past couple of years, I have assisted in quite a few short sales as well.  This is something I believe very strongly is the bedrock of our business.

What we need to avoid at all cost is the temptation to encourage buyers into homes that we know full well they cannot afford.  We also need to avoid the overwhelming temptations a depressed market can bring wherein we push the envelope on preapprovals of those we know are struggling prior to taking on a mortgage.  This is the root of our woes right now.  This is the kind of "assistance" we do NOT need to provide.  Maybe this is a little more clear.  Thanks!

January 07, 2010 10:25 PM
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Rainer
22,517

Celina Gleason

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Additional Information

Realtor with AgentOwned Realty, Clarendon County, SC, Lake Marion Area Waterfront Sales, Santee Cooper Lakes, Manning, Summerton, Sumter, SC.