"Hope I die before I get old~and HAVE to sell my house"

"Hope I die before I get old, and HAVE to sell my house."

One of my parents friends called me over the weekend, her 96 year old mother needs to sell her condo and move into an assisted living complex. Hours later, eyes blurry from working and reworking numbers, and running a variety of reports, it’s time for acceptance.  The market research indicates she’ll lose at least $40,000 in equity in order to get it sold. And she purchased the home in 1994, well before the inflated early 2000‘s. “Her unit has a lovely wooded view out back,” her daughter mentioned on the phone. But, it is what it is...

And it is a mess. No amount of experience, competence and market knowledge can fix this, and with it comes a feeling of helplessness. Recent short sales and foreclosures have set the price point, evectively dragging all the values down with them in her once charming neighborhood. It’s a familiar scenario. Especially sad too, when the current market affects someone who has few days and few opportunities left to recoup any losses.

This hard working woman purchased her home in good faith, lived up to a promise to make timely payments, and during her lifetime has played by the rules. It’s frustrating that some of the people who bent the rules, or ignored the rules and helped to create this situation, seem to still be dodging responsibilities. Guess who ends up paying the bill?

It’s going to be tough to explain all of this, and uncomfortable. Assisted living is expensive. The family needs every dime to ensure her long term care. Will there be a substantial commission adjustment on the listing end? It’s not something professionals are supposed to do - but this professional has decided that the answer is, " yes." It would be a shame to have someone “Hope I die before I get old, and HAVE to sell my house.”

What would you do?

   
                 Debb Dodges Raindrops and Sells Real Estate in Clark County Washington