You Can't Hide From Foreclosure
Most of my listings are posted on Trulia and I also subscribe to Trulia alerts. I get email alerts for new listings, foreclosures and even the "Voices" that I participate in from time to time. I mostly read those just to see what people are asking and what information real estate agents are willing to give. <sigh> There is some Jerry Springer stuff happening there and there's usually a laugh a day, for sure. There's also some help for consumers there, don't get me wrong this isn't a slam on Trulia.
First of all, not all real estate in Bonita Springs is distressed. Some of it is and I'd be lying to you if I ignored it. That would be lying by omission.
Sometimes I'm really disappointed with what I find when I get that email alert. It's not Trulia, it's the circumstances of the Bonita Springs real estate market. Truth be told, it's happened more than once. Sometimes I recognize a new "foreclosure listing" that is on the hot sheets. Maybe I know the home, know the owner, know the neighborhood or worse yet, it was one of my listings at one time. Heck, Bonita Springs isn't that big and Bonita Springs real estate gets recycled, so I've seen a lot of it, some of it more than once. My heart has little bruises all over it from a few of the families I fell in love with while trying to sell their home only to see something like this happen.
There have been more than a few times that I have given swift stop-loss methods to get the owners out from under their obligation. Some of the owners just refuse to listen. Unfortunately, we've not seen a market like this and many just couldn't believe that a housing downturn in Bonita Springs, Florida could happen so harshly. They got stung by holding on just hoping that it would bounce back and they'd be able to cash out or hold on long enough for the market to recover. What a period of hard lessons for many home owners.
Sometimes I wish I would have convinced them. There are times I sat at a closing table with a seller who was feeling so cheated only to count their blessings later on down the road.
Somewhere in the midst of consumerism and home ownership people forgot that:
- If you eat too much you get fat.
- If you borrow too much you'll be in debt.
- If you have too much dept, the tab will eventually come due and will have to be settled.