Sometimes it is more than just being upside down that causes people to "walk away."
They have reasons and issues sometimes only they know or will discuss outside of their inner circle.
I will never second guess a short seller's motivation or one who has endured a foreclosure. It is not my place to be judgmental concerning their moral appropriateness of their decision. If they need my help to sell or rent I will be there and provide the best service I can for their situation.
Life presents all of us with choices. Sometimes there is no easy choice but there is sometimes one that is more logical.
Sometimes strategic default is that choice. Sometimes short sale is that choice.
More and more of my friends and neighbors are walking away from the homes they truly love. Why? Because they owe more than their home is worth. (For Now)
But they are leaving this wonderful home, destroying their credit, and going out to RENT a house, nothing like they dreamed of, and FOR AS MUCH AS OR MORE THAN THEIR MORTGAGE payment was.
Someone PLEASE tell me what I am missing here????
Is it just the principle of the matter? Oh, don't get me wrong.....I push the principle often on matters I feel are worthy. I suppose I have been in the business for so long, and seen so many markets, both up and down, and figure that the housing market WILL rise again (won't it?) and their home will once again be on track.
Now, I realize that some folks have no choice but to walk away, because of lost jobs and such. But the majority of the folks I am seeing, are financially fit and just make the choice to take the walk.
Just like the stock market and other investments, there are losses and wins. I just cannot help but think that in the long run, IN MANY CASES, it would be a wise investment to just try and stay in that home you love, and wait the storm out for a while.
Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.
Read my blogs Florida Homes for Sale, Moving to Brevard County, Florida, and Brevard County Florida Real Estate Information.
Good morning Gary,
You are so right, there are no easy choices...I see both sides of your points and those made in Jean's blog. This is not a situation that is going away anytime soon.
Gary, I think you pretty much said it, "It is not my place to be judgmental concerning their moral appropriateness of their decision."
Don't judge unless you have walked in someone else's shoes. We don't have the full picture of what someone else's life is really like.
This can be a very to tough call. However, I agree with you Gary. We should provide help where we can and simply not judge anyone else's decision.
Lisa - For sure, not soon. Thanks.
Sandy - Very true. It is so easy to say what we would do when we don't have to make the choice!
Lisa Dunham (two Lisa's here!) - Thanks. Help and don't judge. Thanks.
I know some people here who walked away from their home, but what I didn't know at the time was that they actually did try to stay in it and wait out the storm. However, as you noted in your comment, quite often there are many other things going on that the public doesn't now about.