Friday, August 28, 2009

Psychological Effect Of Buying Foreclosure.

Some Foreclosure Buyers Feel Guilty
Foreclosure guilt is affecting some people who can afford to buy low-cost properties even though friends and family haven’t been so lucky.

As Anya Sanko who bought a foreclosure in Las Vegas says, there's a hard-to-shake worry that "you're capitalizing off of somebody else's misfortune."

Some people dismiss this as unwarranted drama, but Santa Fe psychologist Sylvia Lafair thinks that “there is a guilt of survivorship that is real.”

Lafair has provided counseling for real estate practitioners who say clients express this concern.

Lafair recommends that people ease their pain by doing something kind for those less fortunate. “My recommendation is that when you're moving, take (your) old stuff and say, 'Do I really need this?' and give it to a shelter or the Salvation Army. One way to balance the guilt is to do something to be gracious," she says.

Source: USA Today, Steve Friess (08/27/2009)

IMHO: Anyone with a heart and soul would have a feeling for another human being, a family who have suffered or are suffering from the loss of their homes and and part of their livelihood.

As an agent who is very busy and who is showing these REO and Short Sale properties to clients over and over again in this last year; I have an overwhelming and mixed emotion regarding the whole situation.

Everytime I show a home to my client, I usually feel so sad that a family used to live there and called it their home. One can not try to NOT to feel it.

However I am also doing my job for my client by trying to find the best home with the best price and the best location for them. If that home is the one they like then I will help them attain it.

Not to be selfish but I justified my feeling by telling myself and a few of my good clients (who are now my friends) that no mattter how sad I am for the past owners, now I am bringing a new family and a new joy and happiness to the home.

Peace & Love to all.

Wednesday, August 5, 2009

Short Sale Saga Continues

Escrow on Azalea finally closed today. What a wonderful feeling.

Getting Cedar River Court SS approval this week. Went to clean up the messes today. Too bad this process took so long, the lawn is brown and one of the trees is dead.
The house still looks so nice inside. Now I hope the buyer is still interested after all those months.

I might have to get another client that have been looking for home for 3 months to go and submit an offer on it. The only problem is that they want to live in Murrieta and not SUN CITY. Although Sun City and Menifee is growing nicely. A new Loma Linda Medical Center (Hospital) is being built and the facility is coming along together really quickly.

I got dizzy in the last few days and earlier today from reviewing the 20 offers for Camino Nunez home. I love it though.......... Although I feel sorry for the buyers and the agents when I have to reject their offer. (See early posted Blog yesterday)

Tuesday, August 4, 2009

The Shoe is on the other foot!

I wrote on the blog several weeks ago about the Short Sale and REO offers that I submitted for my clients in this last several months. I wrote that my buyers were as frustrated as I was since we never heard back from too many of the agents for those listings. (especially the ones in Corona)

Now the shoe is on the other foot.

I have a brand new Short Sale listing that I put on the MLS and 3 days later we received over 15 offers (ONLY 15?)

Although I plan to review all these offers with my seller, we are planning to submit the one and only 'best and highest' to the lender and we will probably send about 3-4 offers as 'back ups'.

I feel so bad because only one of those offers will be accepted by the Lender.
My buyers were disappointed, I was disappointed (and overworked)

However, now that I have the same situation happens to me as listing agent; although as busy as I am, I replied to each and everyone of the agents that I received their offers. I told them that I plan to review the offer with the sellers and let them know of the latest update.

That is the least I can do to provide the feedback to the buyers and their agents.
It takes a little more work, but I am running a business.

Best Regards,