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)

http://www.realtor.org/rmodaily.nsf/pages/News2009082804

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.

top 10 things homebuyers and sellers need to know about

Each month, FrontDoor.com lists the top 10 things homebuyers and sellers need to know about a different topic. So stay tuned for tips on everything from foreclosures to taxes.

FrontDoor.com's Top 10 Red Flags for Homebuyers
Sellers don't always tell the whole truth to potential homebuyers, especially if they're eager to sell (or "motivated" in real estate lingo). But you can't afford to get a professional inspection of every house you tour. So before you spring for the pro, narrow down your choices by doing your own pre-inspection to spot potential problems.


Mass Exodus from the Neighborhood
Don't let a home's curb appeal keep you from glancing down the street. Are there several other homes for sale? Are nearby businesses boarded up or vandalized? Get the scoop from the neighbors. If everyone else wants to leave the street, maybe you should, too -- before you're stuck with a bad investment. Read More >>

Mediocre Maintenance
Three layers of roofing and gutters with plants growing in them are signs the owners aren't big on maintaining their home. What else did they neglect? Read More >>

Foundation Failures
Check out the yard grading. If the yard slopes towards the house, it could cause water to run down the foundation walls or into the basement, which will be costly to repair. Scour the foundation for damage. Bulges or cracks bigger than 1/3 inch can mean the house has serious structural issues.
Read More >>

Bad Smells (inside or outside)
Take a big whiff of the air inside and outside the house. Do you smell anything funky? If you can't smell anything but the huge baskets of potpourri all over the house, this could be a red flag. Read More >>

Faulty or Old Wiring
While you're probably not an electrician, make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don't work and warm or hot outlets or faceplates are all symptoms of wiring problems. Read More >>

Fresh Paint... on One Wall
New paint can really spruce up drab walls, but it can also hide bigger problems, like water damage, mildew or mold. If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks. Read More >>

Locked Doors and Blockades
Ask about any rooms that are "off limits" during your home tour, and arrange to see them later if you're interested in the house. Read More >>

Foggy or Non-Functioning Windows
Check for water in between double-paned windows and make sure all the windows are functional. Read More >>
Structural Walls or Floors Have Been Removed
Sure you love the open floor plan, but was the house always open or did the homeowners renovate? If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house. Hire a structural engineer if you think any renovations are questionable. Read More >>

Bugs!
No one wants a house with a pest problem -- be it roaches, mice or worst of all, termites. Be on the lookout for unwelcome creatures as you tour the house. Even if no foes pop out while you're there, consider a separate termite inspection if you're thinking of purchasing the property. Read More >>

BOTTOM LINE: Always get a professional inspection
Yeah, it's a little expensive, but it's worth every penny. Don't kid yourself: skipping a home inspection is not a good way to cut homebuying costs. You'll end up paying more in the long run when problems inevitably arise.

Read More >>

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