Would that this was true...that not one more time we would have to take folders full of information, explain the process and how it may happen...that renting was the in the foreseeable future for years to come. How DOES it happen ?
You think to yourself...the economy is better...in Wisconsin we are seeing new companies coming here bringing literally thousands of new jobs (We are pleased to be your Realtor/Ambassador to the Badger state.) Are people just "living beyond their means" ? No....Not in our experience...short sales are not entirely gone ....though less(there was a time we had 36 at once each with 2 liens.)
If it is not unemployment, under employment...or careless spending...what IS the reason ???? Times have changed and with that has been a change in expectations of home buyers....we can only speak for the conditions of our market but have heard it elsewhere as well. In our divorce niche...."The Cleavers" spent money on their children's education...medical expenses that were unexpected, very necessary home repairs...i.e. furnaces. That house that they bought years ago has been maintained...but the expectations of the buyers are different. They aren't looking for "just maintained"...they are expecting and getting upgrades...where are the quartz counters, updated baths, and upgraded appliances ? The dollars went to tuition, child care for working parents, repairs on home and cars....the money was not spent foolishly....it just was not spent on the attractive upgrades that Buyers have come to expect in various price ranges but reflect the "necessity of values" of the homeowners.
Now the once "happily ever after Cleavers" become the not so happily couple and divorce.....and what was good enough for them...and fit their lifestyle and their needs...does not match the "wants" of the market". Yes, they did pay their mortgage on time....they may have some other debt...and there is nothing left to spruce the nest and make it comparable inside and out to the homes that are selling for the price that they wish they could get it. Misplaced priorities ? No we think not....an unfortunate chapter in life...and we are here to help anyone in that situation...due to divorce, death or some other hardship.
This has been a professional service post brought to you courtesy of Sally K. & David L. Hanson, Broker Associates with Keller Williams in southeastern Wisconsin.