We are getting a short sale listing....it is a beautiful, beautiful custom designed home. It is owned by a couple who found each other "the second time around." He is a highly skilled custom craftman and the house is just outstanding. It reflects his craft....truly more than a trade....and the loving care and part of himself that he put into the home he had hoped to retire to.....and welcome his grandchildren to play in the acres surrounding his perfectly designed "castle." It was not to be.
Serious multiple health problems prevented him from giving the attention to his business that self-employment requires. His mortgage adjusted....his health and finances both crippled at the same time.
The sellers' friend in the real estate business knew his situation and listed the house to cover his debts...and leave him enough money to start over....and he trusted and believed the friend....someone who should know real estate..... but clearly did not.
Did the price have anything to do with what the home would appraise for?
It did not.
Was the price competitive with homes that had sold in the area ?
It was not.
Does it help to list a home to cover debts and provide "start over" funds and ignore the market ?
It did not.
Sellers.....when you are between a rock and a hard place with your home and or with your business...your mortgage has adjusted, you can't make ends meet, health problems, job loss or other combined hardship have no longer made it possible for you to continue to make mortgage payments.....Please call a short sale expert, not just a realtor...someone who has experience in short sales....not just real estate. Someone who can actually help you....OR you will try to sell your home.....and you will not.
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Sally,
Thanks for the Post. So true and all too common. In situations such as this, the most well meaning of professionals are lead astray by their personal affiliations. Which in the end do more harm than good.
Sally,
Ouch. All that on top of 7,000 forclsures a day.
Realtors gotta have heart,and you two obviously do!
Steve
Obeoman
Sally,
Stories like these tear at your heart. The best intentions unfortunately caused more harm than good. Having true professionals in our business is the cure to what presently ails our industry. Far too often the short sighted view has prevailed in this marketplace. Thanks for sharing.
Warmly,
Travis Egan, Delavan, Wisconsin
www.TravisEgan.com