This week’s House to Home columnist is Nadine Yates, senior vice president and executive broker of Lindsey & Associates in Fayetteville.

“Choose a job you love, and you will never have to work a day in your life.”

I don’t know who said that, but it has proven to be my motto for the last 38 years. While each decade in my real estate business has had unique challenges and rewards, as I enter into my fifth decade and have time to reflect, I feel blessed every single day to be a part of this business that I love.

In the 1970s, real estate was a “man’s world.” When I first joined the profession, there were only a handful of female Realtors in northwest Arkansas. In my town, like the rest of the country, men had historically dominated the field and, in most cases, were proud sponsors of every idea that affected the trajectory of the business.

There was no Multiple Listing Service (MLS) to assist agents in finding the “perfect” home for homebuyers or using sold data to verify a market analysis for home sellers.

There were also no lock boxes for accessing listed houses, no computers and no cell phones. We were relegated to using pay phones and utilizing the few copy machines scattered around the city.

The real estate contracts were just one page and used a different color paper between the sheets of carbon to distinguish the original from the copies.

On a positive note, once agents were able to assist buyers in finding a home and a price was agreed upon, the rest of the process was fairly simple. Rarely did we run into an inspection or financing issue.

The 1980s were the times for “getting creative.” Soaring interest rates (up to 21 percent) and lenders adding “discount points,” in addition to “origination” and other fees, made a huge difference in buyers’ costs and monthly payments.

Alternative financing became quite a buzzword in the industry — assuming mortgages, owner financing, seller down-payment assistance, second mortgages held by the sellers, wrap-around mortgages, escrow contracts and contracts for deeds became popular methods of purchasing homes.

Every other week, I waited impatiently to receive my “hot off the press” copy of the MLS book and spent the whole day reading every listing to see any new homes, price reductions and changes in the content. Every quarter, a “Sold” MLS book would enable agents to keep up-to-date on area home sales. I also received my first lock box during this time. What a time saver!

The 1990s were the time for “enjoying the ride.” Interest rates were in the single digits, and lenders costs were back in the acceptable range. Many new real estate companies opened, and women were commonplace in leadership roles. The contracts had grown to three, then five, pages. Many Realtors had the advantages of cell phones, fax machines and personal computers, which greatly assisted in their productivity. While we were seeing an increase in contract challenges, such as inspection issues, it was a great decade to be in the business. Most homeowners were enjoying steady and sustained appreciation on their homes, and there was a good balance between buyers and sellers.

Then came the 2000s. Entering the 21st century, real estate became a measure of extremes when the market continued the growth and appreciation of the ’90s.

During the latter half of the decade, all that changed. You couldn’t watch a newscast or read a newspaper without being bombarded with the doom and gloom of the economy, with the housing sector leading the way into ruin. The more the media focused on real estate challenges, the more panic set in with the public. My first calls in the morning were from concerned sellers, and my last calls at night were from hesitant buyers. Foreclosures were rampant, and the economy lacked stability.

It was a challenging time, but the real estate survivors who were able to remain in the business kept their skills sharp, went back to the basics and hung on tightly, for this too shall pass.

Now we have entered the 2010s. While the rough seas haven’t passed, we are seeing some upward movement in the market, and finally some optimism from both the public and industry professionals.

All is not lost. I believe this will turn out to be the “decade of learning.” We must readjust our thoughts and realign our debt. If you are part of the one-third of homeowners who have had to deal with a foreclosure, bankruptcy or other type of financial hardship, know that you are not alone. There are professionals who are prepared to work with credit-challenged buyers over the long haul to reclaim their financial independence. By making adjustments to spending, paying bills on time and making smarter choices, your credit scores will rise. You will be able to buy a home again.

If you are thinking of buying a home, there has never been a better time. Interest rates are still historically low — generally less than 5 percent. There are homes available at affordable prices we couldn’t have touched five years ago. It’s a time of opportunity.

In the ’70s, ’80s and ’90s, we sold high and bought high. Today, we may sell low, but we also buy low. I predict we will come back stronger, better and, most importantly, smarter than before as we head into our economic renaissance. And remember — a good home is made, not bought.

House to House is distributed by the Arkansas Realtors Association.

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