We sometimes get calls from distressed homeowners with halting, tearful voices who begin to explain their hardship and have come to the realization that a short sale may be their only option. Other times, there is confidence in the voice ...the home was custom built, they made these improvements, took out a home equity loan to do these updates...it is better than the house down the street and they are asking more money...and then we make our pre-listing call and have to be the messenger of the sad news.
True enough...the custom built home has some great features but the deferred maintenance has overtaken the beauty of the exterior now in need of a roof, stain, paint ...the home equity loan used for the new....kitchen, bath, landscaping is a wonderful addition; now the house my be "even" with the homes currently on the market priced realistically and not wishfully....and yes, that is the price that they are asking for the house down the street...that has been on the market for six months...but it is not the price that is getting the house sold.
We all have a tendency to see things, people, conditions....and ourselves as we wish them to be...our own reality protects us from harsh truths. In the same way that we don't see the extra pounds, don't hear negative attitudes we may be broadcasting, the wrinkle that wasn't there last week....and the gray or missing hair that is barely noticeable...our reality protects us from the truth.
The words are as difficult to say as they are to hear...we don't want to tell you your home is worth less than you imagined, hoped, wished. If you are months behind on your mortgage....and that job you wanted is not reality yet...we understand your pain....and the difficult choices that lie ahead. Know that the right choices are not always the easy ones and we are here to help you every step of the way. These words often find a tearful surrender to the reality that life is about to begin another chapter. Not the dream they wished...but often the best choice that can be made in moving to a brighter future.
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Very good information. Many families are facing severe financial distress. The emotional impact can tear families apart. Over 60% never even call their lender to try to work things out.
Deferred maintenance. This can be a real killer as far too many buyers cannot look past the honey-do list...
Right you are Michael....and sometimes....depending on how and what...it can be a crippling factor in getting financing as well.
You sure have to wear a lot of hats to be a Realtor in today's market. And have a good listening ear.
And sometimes...lots of kleenex !
I had to get the tissues after reading this. That's the hardest part of our job, bringing the reality of today's real estate market to clients who are facing up to dreams unfulfilled.
It seems that I find more people are getting offended by the actual market value of their home, then they get very defensive. All we can do is be kind and gentle with the bad information.
No matter how painful...being honest is the best policy.....if selling is in the future...make it as bright as you can or refer it to someone who is best able to do that.
Sally and David,
Being realistic is the only course of action. We can certainly sympathize with their situation, and should, but if they really want to move forward, some tough decisions are going to have to be made.
Rich
I suggested your post. We have to wear so many different hats in our business. They are looking at us for consultation, and if they are realistic, they will obsorb this information to make the best logical decision. Honesty builds trust.
You are right Rich....it's hard....and our hearts ache for people who are in positions they never imagined...the only way to move forward is sometimes not the most comfortable.
Thank you Don...sometimes the most comfort we can give is consolation rather than rewarding them with return on investment.
You guys do such a great job at couseling and setting expectations in a gentle way, for folks in stressful situation...keep it up!
Thank u Kristin...we will "live on that thoughtful compliment" all weekend !
Sally
The distress I see in the eyes of sellers upside down at times is so sad. Nice home you have listed in Dousman
Very well stated and so very true.
We become counselors in these situations.
Too often we are underpaid counselors!
pay is often not in dollars but the relief in their eyes, the hugs and knowing starting over is a reality
Well said! Thanks for the heart felt blog! Just knowing we're on their side doing everything we can is comforting to many short sellers.