The Five Stages of Grief, Real Estate Style
"Reality is merely an illusion, albeit a very persistent one." Albert Einstein
Without exception, on every listing appointment I have had in the last 6 months I find myself faced with a homeowner who cannot accept the reality of the lower value of their home.
Homeowners hear on the news and read in print and online that the average price for a home in the Atlanta market is down 10% over the last 2 years. They hear it, they read it, but they do not accept it as truth for their own home.
As I talk with homeowners, over and over, I hear the same things. It's the 5 stages of grief, Real Estate Style.
1. Denial- "My home is the exception. Look at my upgrades. Look at my lot which is the best in the subdivision. Look at my finished basement. Look at my refinance appraisal from 2006.
2. Anger- "But I paid THIS for the house, and then I put THIS much more in it! And I need THIS much to buy that gorgeous house we saw last weekend (and pay off three credit cards and the boat loan....)
3. Bargaining- "Well, I don't HAVE to sell!"
4. Depression- "I can't believe I won't be able to buy that beautiful house on the lake that is $100,000 under appraised value!"
5. Acceptance- Hey homeowners, wow, if you get to this point, could you give me a call? I'd LOVE to sell your house for you!
Cindy George
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