As an agent I get a list of new NOD’s (Notice of Defaults) every week emailed to me. I have seen some familiar names on those lists. I see many listings on the MLS with “motivated seller”, “short sale” “lender approval required.” Times are tight for many.

I have always encouraged my buyers to look at their home purchase in their overall financial plan. I don’t want to get a call from a former client that says “I have to sell. We got in over our heads.” I personally don’t think that is the best approach to life, and don’t encourage my clients to spend to the max of their approval.

For whatever reason, this weekend I was bothered by a short sale. I showed a home that was purchased during the boom by a family. Kids rooms were decorated. Toys were around the house. I have no doubt this family bought the house with its large lot for their kids. What a great place for them to play. The house needed some updating, and I could just see that family walking into the house when they bought it a little bit ago thinking “we’ll fix it up as we go along.”

I was part saddened and part angry being in that house. I was saddened that children were going to have to move, as transitions like that are hard on kids. I was angry that their parents pushed themselves too hard, too fast. Whatever happens here in the near future, we really need to teach our children the concept of living within our means and to save for a rainy day. Somehow the concept of saving for when life throws curve balls at you, seems to have gone by the wayside.

(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)


No related posts.