In my opinion government is not this evil thing trying to run our lives. However they do stuff that sometimes has unintended consequences for our business.
1 The law was passed about appraisals. Seemed like a good thing. Make the process an arms length transaction so there would be no collusion between banks ,real estate folks, sellers , and appraisers. but there is that pesky unintended consequence. We now have appraisers that do not know the area and under appraise homes. As if we needed this added stone being thrown at our market
2 The President is putting forward a plan to allow current paying folks who are underwater to re-finance. This seems like a great thing. Hey the banks got bailed out by us . Why shouldn't they help? Especially since they are a LARGE reason for this mess to begin with. So as my wife and I are watching this on TV she says to me, "Aren't you glad we just finished our refi?' "Why?" I say. "Because the loan process will really slow down when the banks are swamped with all these refis". Unintended consequences.
I am thinking that "short" sales will become almost imposible. Foreclosures will get tough. So I have to ask where is our lobby NAR in this . Are they not effective ? Or are they not being listened too.? I know I never got a survey about political issues from NAR to comment on. Unintened consequences, even some of the best intentioned plans have them.
I will give you my all time favorite. I am sitting in a pub in England many years back with a solicitor friend. He says America was ahead of the UK when it came to seat belt laws. After a long time England finally adopted laws like the U.S. I say, you know there are very few laws that are just good without folks getting punished or hurt. The seat belt law is one of them. He says you would think so. But now that the law has been in effect for a while we are having for the first time in this country a shortage of organ donors. True story , Unintended consequences. Be aware of them in your business too.