How about Realtors that Actually Help People...

I spent yesterday evening addressing a condo association that is having some problems. The declining value of their aging condos is being compounded by their inability to meet some of their financial obligations from a HOA perspective. These people are in real jeapardy of losing their homes if they do not act quickly. These are real people with real problems, and there are plenty of us who are out there trying to help.

 

Free of charge I am helping the HOA understand what their options are and how to back out of this situation.  Everyday, there are Realtors that are meeting with and talking to homeowners who have found themselves in bad positions, but who want to do the right thing (not just WALK AWAY!!!) and doing it mostly for free. Certainly there is the prospect of making a sale but as we all know times are difficult and sales are slow, so nobody is getting rich off these people.

 

.

  • December 19 2007 - US
  • 1
    1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (56)

boy oh boy you are in for it

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Angelique01

It's called marketing.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Do you think it may just be possible that hes a nice guy and used his knowledge to do good in the community?

  • December 19 2007
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Not really in for it at all carrie.  Many people are struggling. It takes people helping people to get us out of this mess. Communication and knowledge are mighty powerful tools. It's time to stop relying on the govt, and start helping each other.

  • December 19 2007
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

How exactly do you market a condo complex in a not-so-safe part of town, that was built in 1971, where all units share a single water main and are billed together (but have a problem paying the bill) surrounded by apartment complexes, with the county cutting an easement into the already small 5.1 acre lot?

 

I'd be curious to hear your thoughts...

 

.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

As a tear down?

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Debts...I rest my case.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

@ K101

 

Sure but they'd lose there arse on what a developer would want to pay for a property they are just going to tear down. They wouldn't go for it, and I wouldn't try to talk them out of not going for it.

 

.

  • December 19 2007
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That's a question for my hubby JRock... he's the one forever in the building depts!

 

 

  • December 19 2007
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for sunnyview

It is great when realtors choose to help people in need with their profession. I do have one bone to pick with you Jay. You seem to write as if it is a moral failing to "walk away" from a house that you cannot afford or one that is underwater. While I agree that people should try to honor their financial obligations, I also understand that many people who bought overpriced homes were led into that decision by dishonorable people looking to make a buck. Holding on is stupid and financially unwise for many. Sometime you just need to learn your lesson and do better next time. Please don't advise anyone to hang onto to a sinking asset that has little prosepect of rebounding or to refinance a unit in " a condo complex in a not-so-safe part of town" that has a mortgage that is more expensive than rent.

 

I just hope that the advice that you are generously offering this HOA is geared to help the condo owners establish a sound financial future not just "hang on" until the next bubble.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

"You seem to write as if it is a moral failing to "walk away" from a house that you cannot afford or one that is underwater."

 

I don't judge the morality of many issues at all, let alone financial ones. People need to do what the need to do. But I will say I have a problem with the "Walk Away" school of thought due to the future ramifications that go along with exercising that option. Its irresponsible to advise someone to walk away until all options have been exhausted. The first step that should occur when you find yourself on a sinking ship is to contact your lender to find out how sypathetic they are to your situation and if they will work with you. Second you should seek professional advice on how to use the market to exit the situation (and there are many steps that can be taken there). So there are way more things that should occur between the time you realize there is a problem and the time you decide to "walk away".

 

.

  • December 19 2007
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

???

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Carrie wrote..."Do you think it may just be possible that he's a nice guy and used his knowledge to do good in the community?"

 

Yes, I do.

  • December 19 2007
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Angelique01

"How exactly do you market a condo complex in a not-so-safe part of town, that was built in 1971, where all units share a single water main and are billed together (but have a problem paying the bill) surrounded by apartment complexes, with the county cutting an easement into the already small 5.1 acre lot?

I'd be curious to hear your thoughts... "

 

Being helpful helps to forge future business relationships.  You get to know a bunch of people, and then when they or their friends need the assitance of a Realtor in the future, hopefully, they'll call you.  This kind of thing is done in business all the time.  Nohing wrong with it.  It's actually an excellent marketing tool.  But please don't try to pretend that you take the time out of your busy day to do this entirely out of the kindness of your heart.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

But what if he did? I would do something like that if someone needed me. I do do things like that...not usually invloving real estate but other things (i.e. horses) I have knowledge of. However, I would do the same with real estate.

 

Is it so hard to comprehend that a real estate agent is also a human being and some of them just may care about their bretheren? Seriously...

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Angelique01

Carrie, you don't generally post your good deeds for the week on Zillow...at least I've never seen it.   I can't imagine doing that myself.

 

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

good point...maybe he is feeling deflated and needed a pat on the back.

 

go on with your cynicism....its better to be prepared than dissapointed. (words to live by)

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for LinusK

How exactly do you market a condo complex in a not-so-safe part of town, that was built in 1971, where all units share a single water main and are billed together (but have a problem paying the bill) surrounded by apartment complexes, with the county cutting an easement into the already small 5.1 acre lot?

 

So what are they?  Their options, I mean.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

"But please don't try to pretend that you take the time out of your busy day to do this entirely out of the kindness of your heart."

 

I don't see any of the more experienced agents hustling over there to help them out... if it was such a gravy assignment I figure they'd be "Johnny on the Spot" here. There is no marketabilty of 60-70k, 30 yo condos in my area. I see myself as a realist so you'll have to forgive me if I don't buy into cynacists masquerading as realists. I don't thing 44 people expect me to sell an entire condo unit for free, but I also don't think they expect me to screw them over to get it done either.

 

If I want to get my hooks into high dollar buyers and sellers it only takes a 20 min ride to the areas they frequent and a short conversation about the market and their situation to get their business. I..unlike some people got into this business to help people get on with life and not be held hostage by buying or selling a home.

 

.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Jeese... I am so glad I never hung my RE license! That way I can't have people telling me I help them only to serve myself.  Sorry Jay, I'm on your side on this.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

"So what are they?  Their options, I mean."

 

1. Get their HOA situation in order with help from me and/or a management company to get them to a point where they can cover operating expenses as well as improvement.

 

2. Get 100% agreement among 44 owners to sell to an investment group who will convert them to apartments.

 

3. Get the gov't to encompass the complex into a rehab program that will resell to low and middle income individuals.

 

4. Get their water shut off and eventually have the county condemn the property and sell it at auction (probably to a developer who will rehab and sell it to an investment group).

 

.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Debts...thanks

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I like people that help people.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Me too Jarrod. They are in a tough spot.

Good Luck.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

"I like people that help people."

 

I like warm socks.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Thanks Debts, Carrie and Jarrod... Its just a shame that such a good internet tool for buyers is being overrun by people that haven't got the vaguest idea what is actually happening in the broader market past their front yard.

 

Carrie... I'm not deflated or do I need a pat on the back (not defensive here) I'm just trying to share a positive thing that we as agents do. I'll do this type of thing whether people see it or not.

 

.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Bette Defarm

Its just a shame that such a good internet tool for buyers is being overrun by people that haven't got the vaguest idea what is actually happening in the broader market past their front yard.

 

oy.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

2 or 3 is the best shot. We had an old mobile home park here that got the city to buy it, on the condition they'd keep it the same. The city has wanted to sell it, but the tenants of the park keep winning!

 

I'd also see if these people are willing to help each other out, landscaping, etc. There was a lil old lady that lived next door to us... 92, missing a kneecap, climbing in trees to prune them. She loved it. My point is, there might be some resources w/in the apartments that could cut costs.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

@ Debts...

 

Thats my thought. Based on history I don't really see the HOA really making much of a dent in the problem. Not enought to resolve the issue long term anyway (and I told them as much). If everyone had their own water connections that would be different , but the single main will continue to be an issue for them.

 

There is a fundamental problem with this complex (and I've seen it before). There aren't enough people taking the initiative to maintain the property in order to keep costs down and there isn't much I can do to fix that.

 

.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

overrun by people that haven't got the vaguest idea what is actually happening in the broader market past their front yard.

You just insulted 80% of the people on here that actually think logically and not like a NAR shill.

  • December 19 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

  1. 1
  2. 2