Today I was previewing homes in the area.  As I drove up to the last one on the list, I recognized the custom brickwork on the front of the house immediately.  It really stands out as one of the prettiest homes on the block.  Two and a half years ago, I had given a listing presentation to the owners of the property.  They loved my marketing plan, but just had to talk it over. 

I followed up a day later, and the husband was ready to sell.  The wife wasn't so sure.  Over the next couple of weeks we had many phone conversations; and they kept putting off making a decision.  About a month later, I phoned him again, and he said they had decided to refinance, and stay put.  At the time they had a negative amortization loan, and were having trouble even making those payments.  I wished them the best, and kept them in my regular mailings.

Last December, I had sent them a Christmas card, and it came back.  It could not be forwarded, said the yellow label on it.

So, today, I discovered that their beautiful house is now a bank owned property.  I wished I could have helped them back in March 2007.  At that time, their home would have been listed for about $475,000.  They would have just about broken even if they had sold the house then.

I told a fellow agent about it today, and she said to me that she knew I had tried to help them; and she also said that we can't help them all.  This is the human side of the decline in house values, and the effects it has been having on peoples' lives.  I don't know where they went; I just know that they lost their home.

Today, the house is listed for $315,000.