Posted by EagleEye/NJ on 5/9/08 8:35am
Msg #246862

No business

I don't know if it is the area I live in or what, but I have had absolutely zilch for signings. I cover 4 counties in Northwest New Jersey and there just doesn't seem to be anything out there. I would think with the interest rates being what they are, would toss up some new refi's or Helocs. After losing my job last year as a real estate secretary for the same small attorney's office for 25 years, I made THIS job my full time job. (was doing this part-time for 12 years) Well, back into the big wide world soon. Is anyone else THIS slow???

Reply by MistarellaFL on 5/9/08 8:50am
Msg #246866

It is very slow in my area of SW FL.
It is my understanding that even with a good credit score, lenders are not lending.
Case in point, my last closing: Man buys the family home for 110K, credit score is 755.
His bank, BOA turns him down....WaMu turns him down...reason: credit score is not high enough.
Also, some folks who refi'd when appraisals were up, cannot refi as the payoff balance of their current loan is much higher than the appraised value of their home, hence they are not eligible to refi until property values increase.
I am doing more REO's than refis.

Reply by ME/NJ on 5/9/08 8:57am
Msg #246867

As mentioned above, you need great credit and 30-40 equity in your home to get a loan today. Now add the increase in oil, energy and food banks will only get tougher on approvals.

Only A paper and FHA loans for the last 6 months, May is better then April so (not by much) My resume has been out for months but the job outlook in NJ is not looking well either.

HELOC business has been dead for 2 months now, TCs are pushing the refis in this area, there are a few markets that business has been good the NE is not one of them.

Reply by EagleEye/NJ on 5/9/08 9:33am
Msg #246872

The same with me- I have been sending out resumes -responding to ads - but do you think I hear back??? I'll have the qualifications they are asking for and then - nothing! It is hard to follow up because you only get an email address or a fax number. I would rather talk to someone on the phone then send another email or fax asking for them to please, please, please, pick me!!! hehe.

Well, misery loves company so I am glad it is not just me. ME/NJ I would have thought you would have more business down South because of people buying in the shore area. Guess I am wrong on that. I know I can't wait until next year when things "supposedly" will get better. I need a job now and it makes me sad that so many of us have to give up what we really enjoy doing and go back out into a 9-5 job that we will probably just barely tolerate.

Reply by kkarate on 5/9/08 9:37am
Msg #246873

PA is slow too. too soon to give up my other PT job

Reply by Deborah/NJ on 5/9/08 10:06am
Msg #246879

Re: No business in Central Jersey also....

Did two this week so far in Central Jersey. This has been the worse week for me so far.

Reply by BrendaTx on 5/9/08 10:01am
Msg #246878

Re: No business - EagleEye

**After losing my job last year as a real estate secretary for the same small attorney's office for 25 years,**

How does that happen? Did the attorney retire?

After 25 years, a legal secretary doesn't just "go bad" LOL.

Was it a cut back in the RE business in general?

You can pm me if you'd prefer. I hold the same position in Tx. Just curious.

Reply by LindaD/NJ on 5/9/08 10:33am
Msg #246883

Good Morning everyone. As I said in a previous post, the other day, I had a really good week. Almost every day had 3 to 4, closings. today I had 2 on but one cancelled last night in the a.m. All $100.+ and within 10 to 15 miles. Docs on time, nice people. Me/nj you have had these kinds of weeks before, I know I have been sucking wind and you had a great week. Like I said, No rhyme or reason to this business. Hope the work spreads out for all of my fellow NJ notaries!

Reply by Alice/MD on 5/9/08 10:55am
Msg #246888

Things have been slow for me all year. Either the fee was too low for me to accept or no calls at all.

Reply by ME/NJ on 5/9/08 11:33am
Msg #246890

Linda had 3 yesterday as well 10 for the week

But that is nothing, last year my avg for May was 6 loans per day. This is not a way to earn doing this fulltime anymore.

I'm glad some work has hit this month, plus I have a few Bank Audts this month 25/hour (not a bad gig)

I do feel for people who have depended on this for income, it was great while it lasted.

Reply by LKT/CA on 5/9/08 10:44am
Msg #246885

These times should be a.....

....lession to us all. Stop overspending when times are good, SAVE a significant portion and enjoy a smaller portion. Then when times are lean your lifestyle doesn't change because you've socked away plenty to live on. Certainly the message I'm getting....

Reply by SReis on 5/9/08 10:48am
Msg #246886

Totally agree LKT, we're learning that the hard way ;-( n/m

Reply by Kate/CA on 5/9/08 1:03pm
Msg #246901

I was in Las Vegas, NV this past weekend. One of our friends that met us there works for a Mortgage company. He has been a loan officer for many years. Their company has gone from 41 one employees working there to 6. They don't forsee this changing until after summer of 2009.

Reply by MonicaFL on 5/9/08 8:39pm
Msg #246972

It is sooooooooooo slow here - I did 1 closing in March, 7 in April and zilch in May. I did run into some good luck today though. Went with my friend who purchased a new golf cart and the owner of the company made the comment that he sure wished he could find someone part time to just enter daily receipts into the computer - I questioned him about it a little longer then told him I might be interested. he stated that he would pay me $100 a day (8 hour day) to do his and I could do it when I wanted - no set schedule. Think I might take him up on it. I know the program he is using and I certainly can use the extra income.

Reply by MonicaFL on 5/9/08 8:40pm
Msg #246974

Re: No business-oops

It should have read: to do this NOT to do his. Sorry.