Reality for short sale sellers

By
Real Estate Broker/Owner 01293735 CA

Sellers of short sales have many realities to face and confront. For many short sale sellers, it is not only about losing their home, it is about changing a lifestyle.

The key to a new less stressful more manageable life for most short sale sellers is to spend less money, not just on a home, not is all areas of their life.

As a broker, it is painful for me to see short sale sellers still spending alot of money on restaurants, clothes, travel, and other discretionary items.

So many people who are losing their homes are upset at the banks. The banks are frustrating, but let's look at our lives and see what we can do to spend less, simplify our life and quit blaming others for our over spending.

I coach the short sale sellers to save at least 10% out of each paycheck, just like the good old days. It is ok to not use credit cards and to actually have some savings in the bank.

Let's get real with what we can afford.

Posted by

 LORI BOWERS

http://www.loribowers.com

The Lori Bowers Group

A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs

La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.

78120 Calle Estado Suite 103

Old Town La Quinta

La Quinta, CA 92253

Phone: (760)8311595• Fax: (760)771-5327

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Topic:
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Rainer
229,086
Linda Urbick
San Ramon, CA Homes for Sale - 925.415.3046
Keller Williams Realty

Lori - right on. It is not the banks fault that the market dropped or that so many people got in way over ther heads. This is a good lesson for all of us - don't spend more than we have.

 

Linda

July 13, 2011 12:18 PM
Rainer
31,904
Karl Falk
Summit Mitigation Services
Summit Mitigation Services

And you would think that more short sale sellers would have money saved before they have to move because they are not making payments....but they always seem to have a new flat screen TV. 

July 15, 2011 02:28 AM
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Lori Bowers
The Lori Bowers Group

I agree - it is appalling to see how overextended these people are and they still keep spending.

July 15, 2011 01:13 PM
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Lori Bowers

The Lori Bowers Group
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