Skip to main content

Mother Nature and Mortgages

Here in the lovely state of Arizona where we live six months of the year seven inches from the surface of the sun, we usually have what we like to call a “dry heat” – not unlike an oven, if you will. However, for about six blessed weeks in the middle of all this wonderful heat, we have Monsoon Season where it rains like it’s trying to catch up with Seattle’s annual precipitation totals, and our streets turn into rivers and our parks into lakes.  You can read all about it in the brochures they give out at the airport.  

After one of our most recent monsoon storms, I was driving along one of the higher-elevation streets that didn’t become a river, and I noticed that on one side of the road in front of a rather fancy housing development was a row of rather mature Palo Verde trees – and every single one of them had been toppled over by the wind with their entire root systems exposed for all to see. (I’m sure arborists were blushing.) Based on my extensive research (three minutes on Wikipedia), I confirmed that Palo Verde trees are native to our desert climes, so one would think that they’d be used to Mother Nature’s huffing and puffing during Monsoon Season – and they’d be right.  If you go out to the desert and spy a Palo Verde tree that ended up there naturally, you’ll see that it’s standing upright and fully planted despite whatever the elements threw at it.  

The reason for this difference isn’t that these “city” trees have loose morals causing their “country” parents and relatives untold hours of disappointment and hand wringing.  The answer is far more simple: like any tree, a Palo Verde’s roots seek the closest and most abundant water source.  In the desert, this usually means that the roots are forced to reach down MUCH deeper to find a water source.  When Palo Verdes are planted as a component of an overall landscaping scheme, they’re either situated close to a patch of grass where all the watering is done at the surface, or the trees are watered independently by a drip system, which is also at the surface.  In either case, the roots stay close to the surface and never develop a system that really anchors them deep into the soil.  

If you’re going to plant a Palo Verde tree, the best way to ensure it develops a root system to withstand Monsoon winds, you should take a PVC pipe and drive it into the ground parallel with the trunk of the tree.  The length of the pipe should be anywhere between 4 feet and halfway to China. Once the pipe is installed, the tree should get one deep watering each week ONLY through that pipe.  By having the tree “fed” this way, the roots are forced to reach down toward the water source rather than across to a patch of grass or a drip system.  

If your lender spends five minutes on the phone with your buyer and gives you the green light to take them out to look at houses, he/she may be setting you up for failure.  In other words, when the fierce Monsoon winds blow in from underwriting, did your lender do the right work up front to assure your client’s roots will be strong enough?  In most cases, you didn’t find THE HOUSE for your client in five minutes – and I would venture to say there are some clients who need reminding of that, right?  We want the transaction to close as much as you do, so give us the time to get our hands dirty and dig down deep enough to make sure we can all weather the coming storm. 

Comments

Popular posts from this blog

An Age-Old Concept Reaping Future Rewards

W hy are social media like Facebook and Instagram so darn popular among real estate and mortgage folks?   Hint: the top reason might be an endless supply of memes, cat videos, and the chance to be snarky, but the other reason runs a VERY CLOSE second.   Give up?   Answer:   They’re free – and they really help even the playing field by enabling a one-person shop look and market like an organization who employs an army of wordsmiths and graphic artists. This new century is glorious, right?   With that in mind, let me re-introduce you to a centuries-old concept that is equally glorious – and can help IMPROVE the playing field for you, regardless of the size of your team: karma.   On the subject of “free”, I’m not suggesting that you work for free, but when you freely give of yourself and your knowledge, you’ll see a greater payoff, I promise! Recently, an agent came to us with a question: she has a client who is looking to sell his condo.   It...

Get to the Point (Posted February 29, 2016)

As you may have already noticed, there’s some amateur art included in this week’s newsletter.   While it’s certainly better than a crayon drawing that might grace a refrigerator that’s supposed to be “mommy” but looks more like a B-movie creature, we all acknowledge there’s a reason the guy in our office who drew this . . . i s still working in our office rather than making a living elsewhere.   Be that as it may, there’s a point to the picture: is this how you’re allowing your client to choose their mortgage company?   In many cases, it’s probably not too far off.   Agreed, it’s wise to stay on the right side of the law and be sure you’re never accused of “steering”.   With that in mind, many agents tell their clients that it’s completely their decision as to what mortgage company they use (and it is, of course) and effectively step back from the entire conversation – using the illustration to the left, they’re putting the blindfold ...

Bubbles: History or Hysteria?

Whether you’re a flipper of TV channels or a die-hard fan of one particular news source (television, radio, internet, or some weird thing called a newspaper), you can’t help but come across a story or twelve on a semi-regular basis about the housing market and whether we’re on a “bubble”.   There are thos e pundits who claim everything points toward the market being on a bubble and how close we are to it bursting, and there’s an equal number who blow off the idea like that’s the most ridiculous thing they’ve ever heard.   What you don’t hear, though, is actual data supporting their arguments concerning a “bubble” in the housing market because it makes for a better story to watch people wring their hands and make emotional pleas and/or flash artificially whitened and perfectly aligned teeth at the camera and say these end-of-days kooks have it all wrong.   Well, buckle up, kids!   THIS is about to become your favorite news source (at least for the next two or thre...