Sahuarita foreclosures have shown some interesting trends. I have noticed some trends in a lot of Arizona/Nevada communities with a high foreclosure rate. Here is my foreclosure stereotype (there are exceptions) –
Sold previous home between 2002 and 2007 (why not… tons of equity!!!)
Bought next home significantly larger
Bought ATV’s (or other recreational stuff)
Got a new car (a pretty nice one or two)
Took some form of early retirement because they expected to be able to sell again and make more money!!
STOP…. Okay no more cynical commentary.
Here is a starter list of what we as real estate professionals NEED to do. If you can add something please do.
- Begin looking at the long term success of our clients.
- Have our clients look at the “why” behind their decisions
- Build a team (CPA, Financial planner, Agent, Mortgage lender) that will watch out for your clients LONG term best interests
- look at the long term goals (if they don’t have any get them an adviser) of our clients
- Think long term
- Embrace that this is only the first transaction in a long term business relationship
- Embrace this responsibility - We are working with and helping them direct 25% to 35% of their monthly income.
We are planning/assisting/advising lets act like it.
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