It will turn, and your willingness to ride it out is a good sign that you will reach prosperity when occurs. It's the damn "Life is good, business is great, people are wonderful" phony optimism that steps on my dick nerve. It is the same optimism that got all these poor souls in over their heads to begin with. Real data shows that it is a bad market. When we get actual buyers we need to make sure that we're not goading them in over their heads. Some people truly wish to 'charge ahead' and hope for the best; for them I simply give my advice and recommendations (in writing) and close the transaction so that they can meet their goals and I can look at myself in the mirror. I would rather make a commission on a solid transaction and have repeat business over the next ten years than make a commish on a marginal transaction and face the guilt that those buyers will likely be facing foreclosure in the next couple of years.

Truly, how many of us saw this coming? I did. Everybody who I know did. I warned the hell out of people that this was a bubble and it would burst. I've received three letters thanking me over the course of the last two years from people that took my advice, bought a smaller unit, bought an honest loan, and are making their payments while their neighbors tank. Those people will do business with me again. Those that got in over their heads despite my advice are contacting me and asking me for advice on how best to deal with their monthly mortgage statement. I wish I had a magic bullet for them, but I don't. I help them as best as I can, but at least they know they're dealing with an honest, realistic broker.