Real Estate Agent with Coldwell Banker Residential Brokerage


Well everybody has to find this market to be of interest.  The most scarce commodity amongst realtors today is the small numbers of real available buyers.  But within the ranks of true buyers brimming with optimism of being able to secure a "steal",  I hope beats the hearts of those individuals who have empathy to the party on the other side of the deal...known as the sellers.

Quite often we see the foreclosure tag looming over a property.  Unfortunately for the seller, the reality is that either they have had to voluntarily yield back thier property back to the lender; or they have had a lender begin the ugly nightmare of facing the eviction scenario.  Neither one of these two scripts will make anybody want to jump for joy.  However, the worst implication is of course the credit score reality.  Once a seller has opted, whether voluntaryily or not, to enter into the foreclosure decision, they are facing a few dark years credit score wise.  However, equally as ominous is the neurtering of the former sellers ability to apply for a new loan.  The other side of distressed sales are the short sales. This is not a situation that I would want to wish on anyone.  When a short sale occurs, through the persistence of the seller to make a case to prove their hardship, will possibly come the report of a short sale.....the potentially equally bad credit score crunching document.  The only thing worse is that in some cases the seller will possibly get a 1099A from the lender for the amount of the released mortgage debt. Wow, is that ever a potential bonus!

So to all the buyers who are brimming with giddy excitement about getting "the deal of the century", all any of  us ask, is to have some compassion for those who are now on the wrong side of the buying or selling scenario in which they are beginning to embark.  Well we do wish all of you to get a great deal as this is the time.

In the Green Valley, Tubac or Tucson area check out our website: www.greenvalleydreams.com

Comments (1)

Tony Fantis
Fantis Group Real Estate - Salt Lake City, UT
Realtor,Principal Broker - Salt Lake City
Agreed....there's nothing wrong with going after a deal.  But there's no need to kick a man when he's down....like putting a house under contract for $50k under asking price then beating them up even more on the inspection.  Some things should be sacred.
Apr 14, 2008 01:16 PM