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Is the "F" Word Being Mentioned More Often in Your Real Estate Market?

Ok- get your mind out of the gutter! Of course the "F" stands for "foreclosures" and in the Houston real estate market, foreclosure properties are becoming more common place. Not to the extent seen in the major foreclosure markets of Nevada, California, Arizona or Florida but pretty widespread all the same. Even in the popular Houston neighborhood of Bellaire there are over a dozen foreclosure and REO properties on the market.

The Challenges Consumers Face with Foreclosure

We all recognize the challenges faced by homeowners at risk of foreclosure, and those already involved this gut-wrenching experience. Many homeowners too embarrassed never attempt to call or even talk to their lender, choosing to watch their mailbox fill with notice after notice. If they only knew to pick up the phone and make that call to see just what options are available. And then there is the seedy side of this business where the vultures are circling these individuals looking to swoop down and pretend to offer a solution. As a representative of the real estate industry, I somehow believe we should be doing a far better job protecting the consumer from these low life's. The first step in this solution is to be open, transparent and offer sound education. Foreclosures

The Other Players in Foreclosure

In addition to those homeowners either in the midst of a foreclosure or those teetering on the edge, you find the buyers. Some are equally oportunistic, ready to "low-ball" the equity-starved seller who is trying to avoid foreclosure. Look at the impact of foreclosures on any hyper-local market - its snowball effect can slowly begin to rob a neighborhood of its property values.

Remembering Why I Have a Houston Real Estate License!

Our Houston REALTOR team here at the Zoller Group has decided to meet this challenging and growing reality of foreclosures and short sales head on. As a veteran Houston REALTOR, I was recently reminded of my responsibility to our Houston real estate website visitors, our Houston real estate blog visitors, our customers, and our clients:

To state all material facts relating to any Houston property (foreclosure, short sale or otherwise)
To protect my clients from legal peril and to offer sound consultation
To use every opportunity to educate consumers, customers and clients using my online presence to the very best of my ability

Our creditability as real estate professionals demands we skillfully fullfill these responsibilities. To do otherwise places those we work for at legal peril and financial risk.

Putting My Houston Real Estate Blog in High Gear!

With a fresh perspective, we launched a new post yesterday at the Fine Homes Houston Community blog on educating consumers about the terms we so flippantly use when talking about foreclosure. You are welcome to visit our Houston Real Estate Blog for a closer look.

Meg and Jim Zoller - The Zoller Group of Keller Williams Realty, The Metropolitan

Please view our Houston Real Estate website

Also, feel free to contact us at:

Direct: 713-661-0884
Toll Free: 800-808-6153

E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com

Cells: Meg - 713-875-4844
Jim - 713-545-6338

Posted by Meg Zoller Houston Fine Homes on 11/07/2008 11:47 AM

Comments (10)

foreclosure, short sale

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10 Comments on Is the "F" Word Being Mentioned More Often in Your Real Estate Market?

NOV

2008

Hi Guys - your post speaks volumes to the need to protect the consumer and serves as a good reminder what should be our focus when conducting our business on behalf of our clients.

Meg and Jim - Interesting headline. Bravo on the topic!

Oustanding post. RE professionals have a ways to go to building a reputation as consumer advocates.

Meg and John, you are correct we are starting to see more of those foreclosures in our area. I love the way you are helping to educate the consumer. I have helped several clients through the short sale process and they were so excited not to take that foreclosure.

NOV

2008

Lenda -

Our business is about "SERVICE"! The more we can help others . . . the better we feel about ourselves and our work. It's what makes our business enjoyable.

In Atlanta the "F" word is on steroids! It is a difficult time for a real home seller.

Good morning Jim -

You made me laugh out loud over your use of "steroids". I haven't heard that before. Yes, the market is difficult, but people still need to sell and buy. It's harder to get many homes sold quickly . . .but with some creativity we all have the ability to get the homes sold. Sometimes we just need to work on another marketing strategy or network a bit more. The homes are going to sell! Stay positive!

Have a fabulous and productive week!

Meg