We Would be Better Off if there were no more Short Sales
We would all be better off if there were no more Short Sales. My position on this may catch a few people off guard, particularly the buyers that are waiting in the wings for the perfect opportunity. It is not that I do not want to see my buyers get the best possible deal on their new home. And it is not even that I feel sorry for the banks, heaven knows they have done plenty to create this mess. The real issue is the devastation that the collapse of the housing market has caused to our friends and neighbors. For every great deal that someone swoops in and gets the lives of a family have been turned upside down. There is no such thing as going through the process of a short sale, foreclosure, or bankruptcy and not having scars to show for it. I long for the days when hard working people could take for granted that they could find some kind of job and that if they took care of their home their equity would grow and create a safety net for them and their family.
The world has been shaken inside out. Owners have been turned into renters and renters are being turned into owners. Interest rates are at the lowest levels in more than 15 years yet most people cannot get loans. There is money for the underprivileged, and there is money for those who do not need it. For all the rest, stand in line and jump through hoops and maybe just maybe you will be one of the fortunate few that get to the finish line. To most of you this sounds cynical and glum and perhaps to some extent it is. I just remember the days when there was order to things. People had confidence in themselves, in the country and the economy, and in one another. I can’t help but worry that banking and lending will never be the same. People no longer feel the same sense of responsibility as they did in the past.
Am I all alone here? I scour the listings looking for the very best deal for my clients yet knowing that it always comes down to either a short sale or a foreclosure. You can either fight em or join em. I choose to join em but not forget that every client is a human being and that none of the sellers on the short end of the deal went in with the knowledge of what was to happen. Sure they borrowed too much. Sure they paid too much. But at the time it all made sense. Lets all hope that it all makes sense again if not for us, then for our children and grandchildren. Join me in my effort to do our part to restore self esteem to those that have been devastated by this nightmare.