What Happens When Economics and Emotions Collide?

by barbfischer on March 11, 2010


Just spoke with two more REALTOR(R) friends today who are personally considering short sales, and are in emotional angst over it having come to this.

I asked them both: how would you advise a client who was in the same situation? For all of us, when it’s yourself on the line, our thinking tends to become muddled and laced with emotion.

There’s one common denominator with every short sale seller I’ve consulted– the first thing they all bring up is the moral dilemma of missing a payment and not honoring their original contract. But most of them are up against a wall financially and have run out of options. They’ve tried working with bank, they’ve pulled money out of savings, they’ve pounded the pavement looking for a new job, but the end of the road has finally come.

What I find amazing is the huge difference between the way human beings and a financial institutions evaluate basically the same scenario. The person thinks first and foremost of values and morals, and the financial institution bases their decision on whether their assets are toxic or performing.

Go figure.

Barb Fischer

San Diego, CA

619.339.1396

{ 0 comments }

Hello to all the buyers and sellers and investors who want the best home, the best price, the easiest/smoothest transaction, the quickest response time, loads up up-to-the-minute info AND a smart guide too–if this is you, may I ask:  would you trust your next surgical procedure to a part time doctor? Someone who has another day job and who does surgery in their spare time? Someone who does not have the time to keep up with and make sense of the flood of information and new regulations in this fast-changing market?

I’m probably talking about your buddy or your friend, someone you really like who just got their real estate license or who has had it for awhile but hasn’t made enough money to stay in the business. It’s noble of you to want to help them, but real estate is a serious, FULL TIME BUSINESS and you are putting your home purchase or sale– perhaps the biggest asset you will ever own– at risk. You need a full time professional, someone who knows today’s market and who can clear the path of hidden land mines.

Here’s how you can avoid hurting your friend, and hurting yourself and your finances too.Tell your friend that in this chaotic market, you feel it is in your best interest to hire a full time professional, and you would like a REFERRAL from them to a full time REALTOR(R) in their office, or someone they’ve worked with before. Agents can share referral fees with each other, so your friend will still financially benefit from your help, without having to spend the incredible amount of hours it takes to close a successful transaction these days. After all, does your friend really want to work 40+ hours a week and then have to spend every spare second working a second job? Time is money and you want them to have a life too. And everybody wins.

2010 Barb Fischer La Mesa CA

{ 0 comments }

Walk a Mile in Their Shoes– and then tell me what you’d like to do

February 21, 2010

Dear Seller, do you know how hard it is for a VA or FHA buyer to get an offer accepted in most markets today? All things being relatively equal, would you perhaps consider helping a vet, maybe as a way of thanking them for their service to our country?
Dear Investor, now that the FHA anti-flip [...]

Read the full article →

To Get the House You Want, You’ll Have to Lead the Pack

February 20, 2010

Lost out on an offer or two? Here’s one of the #1 reasons buyers lose a house they really want: they get there first (that’s good) , they put in the first offer (also good) but then, because nobody else has made an offer yet, they either start to doubt how much they really like [...]

Read the full article →

Top 10 Stress-Busters for Crazed Overachievers

February 17, 2010

Top 10 Stress-Busters for Crazed Overachievers

Short sales, REOs, multiple offers,  non-responsive banks, imploding escrows… whether you’re a buyer, a seller or a real estate agent….you get the picture. It’s all in a day’s work, but these days I think we need a little extra TLC to make it through. Here are my top 10 stress-busters– [...]

Read the full article →

Lessons Learned from Rescuing Animals

February 17, 2010

Lessons Learned from Rescuing Animals

For the past 4 months, we’ve been fostering Gus, a very delightful dog whose owner no longer has a home or the means to care for him. I loved Gus the minute I saw him. My dog-loving son, however, has remained a bit detached, knowing that at any time, Gus might [...]

Read the full article →

Are You Really Reading the Short Sale Addendum?

February 17, 2010

Short sale addendums for both buyers and sellers are so important. Most people review them initially, but  when things go south, most buyers/sellers seem shocked.
Sellers can’t believe it when the bank or investor denies a short sale. But from the first day they elected NOT to make a payment, the foreclosure process begins, and unless [...]

Read the full article →

Real Estate Auctions– What Buyers Don’t Know Can Really Cost Them

February 17, 2010

Real Estate Auctions– What Buyers Don’t Know Can Really Cost Them– If you’ve been tempted by the “great deals” you’ve heard that “somebody somewhere” got at an auction, please go in with both eyes open. Here are a few auction basics which many people are not aware of.
1. Know the difference between Trustee [...]

Read the full article →

Will the openness of Social Media inspire more grace between us?

February 17, 2010

Will the openness of Social Media inspire more grace between us?

It never ceases to amaze me the vast amount of personal information that people spew forth on various channels of social media. If the government, or anyone, asked us directly for this, we would be absolutely furious!  But because it’s our choice, we give it [...]

Read the full article →

Is the season of condemnation finally over?

February 17, 2010

Is the season of condemnation over?

Remember last year when every news report seemed to point the finger at those “irresponsible” homeowners who’d taken out a mortgage they “didn’t deserve”?!?  What?? Those prices were the admission ticket to homebuying then, and everyone I worked with bought at the lowest price they could. So if our Depression [...]

Read the full article →
Page 1 of 512345»