Much is been written on Foreclosures and Short Sales in the Real Estate Blogosphere recently. Like many agents, I have put a lot of thought into how to operate effectively in a market that has so many homeowners facing foreclosure. But that's not what this post is about. This post is about the people on the other side of the coin.
This Thursday I had to take my car into the shop. I got a ride on the dealership's shuttle back to my house. As we drove, the driver, a man probably in his 50s, started talking about the weather. Then we drove by the Fairfax Corner area, which has seen massive development the last few years. He shook his head, obviously amazed and overwhelmed by it all. He simply uttered "life is hard."
I said "yeah it is."
He went on to tell me he had been married with three kids, how they owned their own home, and how good life had been at one point. Then he found out that his wife was with another man, and it all fell apart for him. He told me he lost his house, but he obviously lost a lot more than that.
He went on to get remarried and they bought a home in Springfield together a couple of years ago with an adjustable rate mortgage. It adjusted dramatically higher last November and they are struggling to make payments. He told me he works two different jobs which keep him working seven days a week. His wife is also working seven days a week to get their bills paid.
I tried to give some hope by telling him that short term rates have come down and that next time his ARM adjusted it would likely go down. He just said that November is a long way a way. And he's right about that.
So the next day I was showing homes in Lake Ridge to a client who wants to buy a home. We went into a home with a very low price tag that was decorated beautifully, had been upgraded in all the right places, and had the "Short Sale" label in the listing. We walked in and their were two cute little kids playing on the living room floor and their mother was working in the kitchen. As we got back to the kitchen I tried to alleviate the uncomfortable feeling in the room; the one that naturally occurs when strangers are in your home looking in every corner and closet. I told her her children were very cute.
She politely said "thank you," but avoided eye contact with me. At first, I assumed she was being a bit cold towards us.
Then I put myself in her shoes. She had bought this home with her family. She had obviously worked very hard on the home. She had her babies in this home. She was being forced to sell this home and beg the bank to forgive her debts on this home.
Given her situation, she was being more friendly than I would be. I'm sure she wants to cry every time someone comes to see her home.
I don't have any easy answers for the people I ran into this week. There are no easy answers. As we approach problems like this as a nation, as a community, let's remember their are real people involved. People with hard lives.
I realize we are not living in Bedford Falls, that the guys who run the banks are in corporate office buildings in North Carolina, but we sure could use a few more George Baileys and a lot fewer Mr. Potters in a time like this.
If you liked this content you can subscribe to it by email or RSS Feed.
Posted by Jeff Royce, RE/MAX Choice Real Estate, 10511-A Braddock Road, Fairfax, VA 22032. 703-585-5663.
Subscribe to my RSS Feed
