Time to Refocus
Not Run Away
by Joanna Papadaniil, ABR, SFR

I received an article from a good friend, which was published in TIME magazine, dated June 13th, 2005. The picture of a man hugging a home blatantly graces the front page with the title of Home $weet Home.  I look at this picture, actually I stare at it and wonder…at which point did our society become so dependent and hang our future and that of our children in the balance of four walls? 

As I read further below, I am hit with tag lines;  Will your house make you rich?  Super-Hot Markets…,Is It Time to Buy or Sell? I cannot help but instantaneously bring my mind back and forth from 2005 to 2012 in an instant. And as I turn the page, I cannot help but feel betrayed and mocked. A full page of caricatures of various people with speech bubbles citing the following phrases; “I prefer to use negative amortization”, “ I bought in the morning and sold in the afternoon”, “Buying with nothing  down works for me” and others. Seven entire pages written in one of the most respected news magazines  of our time. Seven entire pages of warnings that there is DANGER ahead!! 

It was very difficult to listen to those warnings. Life was good. No matter what happened, an entire nation believed that since our home doubled in value in a little less than three years, we were safe.

Well, the joke is indeed on us…Unfortunately, most of us are not laughing. Instead, we are spending sleepless nights hoping for an answer.. Calling the mortgage company which helped put us in this mess in the first place and begging them to please, please lower the interest rate, modify our loan, help us..begging for mercy… OR we are forced, because of the significant decrease in the property value and not being able to refinance, become another foreclosure statistic.  My mind’s image shifts immediately from the man hugging his home on the front page to that of one running frantically away from it.


As I am writing this article, I am reminded of how my parents in 1973, began their future in this country from Greece with one word on their lips….HOPE. 

We must not believe that our hope has diminished…

Hope and hard work allowed them to purchase their first home and then their second. They have taught me to do the same thing and ultimately, help my friends and clients to attain their dream of responsible home ownership. I will refuse to believe that a country such as ours with brilliant, kind citizens which was founded on free enterprise and democracy will be bullied out of the fundamental principle of owning a home.

This article, like my previous articles is written with compassion and commitment.  I consider it my responsibility as an agent and an individual to encourage each homeowner to accurately assess their position and act accordingly.

There are options in dealing with the real estate value whirlwind which has been in our forecast for quite some time now. For instance:

• Consider meeting with the township tax assessor and asking what needs to be done in order to appeal your real estate taxes. 
• Address your situation with the mortgage company in order to see if a rate change or loan modification is an option for you. 
• Contact your real estate professional and request a complete market analysis along with options specific to you. 
• It is not always wise to only rely on the previous sale, panic, underprice your property and “give” it away. 

There are many markets which have in fact taken a tremendous hit and comparables of recently sold homes have declined up to 30 percent. This information must be evaluated and respected. However, if we take an accurate, logical and strategic approach, we can learn from history, repeat it or…change it.  

As a Temple University alumnus with a devoted appreciation for and extensive knowledge of the greater Philadelphia area, Joanna has taken her professional insight into the local community and put it to work for her clients.

Joanna specializes in residential real estate and works primarily in Southern New Jersey. Her level of experience combined with her unparalleled commitment to client satisfaction makes her not only a trusted agent, but a local friend. My clients know that I will put in 110% for them and that I really do work by the motto “first the client, then the transaction”. It’s all about placing the client and making them feel comfortable. I’m proud to say that 90% of my work comes from referrals.

Joanna and her family have lived in Gloucester county since 1994 and she is a proud sponsor of many of the county’s sports and school programs.

JOANNA PAPADANIIL, ABR, SFR
157 Bridgeton Pike, Suite 100
Mullica Hill, NJ 08062
piarc3@msn.com
http://movewithjoanna.com

856-343-6000 (Office)
856-343-6070 (Direct)
609-271-4062 (Cell)
856-223-5850 (Fax)