A Way Up and Out For Sellers

by Charles E. Carrier - Opinion & Commentary

 

In this economy, sellers of residential real estate face a variety of challenges. For sellers of distressed homes, these issues have added importance: options may be less visible, competent and reputable professionals who can help are fewer, opportunities begin to dwindle, and an exit plan – a means of solving this problem – becomes scarce. An effective way to fix this situation is to work with experienced investors who have the ability to buy these properties, make needed changes and enjoy a profit. Call this suggestion a Way Up (and a Way Out) for sellers who want to get on with their lives, and a gift for neighboring homeowners who want to see prices stabilize – and even rise – thanks to the efforts of investors who understand the marketplace.

These points have significance in the Dallas-Fort Worth area, where I counsel sellers, because listings of distressed real estate continue to rise. Again, these listings are a chance for me to help sellers with properties and situations that meet certain criteria, which include equity and motivation (among other things). These homes are also a powerful reminder that seasoned investors know how to deal with the reality of this environment. For example: a traditional real estate agent, when asked by a seller of a distressed home what he or she should do, often will simply list the property at an unrealistic value for the market and property condition. This action creates false expectations with the seller, and simply becomes another form of procrastination.

Waiting for a better market is also not a solution in many cases; it is the absence of an answer, another means of a real estate agent saying: I cannot help you. In the Dallas-Fort Worth area, there are too many sellers of distressed homes who should not – and need not – wait for some miraculous recovery. These people have new jobs to start, new homes to buy, a chance to make themselves whole – and this is one instance where patience (waiting seemingly forever) is not a virtue.

These facts are not a criticism of traditional real estate agents and brokers. On the contrary, many agents and brokers are wise, successful professionals worthy of respect. But distressed homes, particularly in the Dallas-Fort Worth area, are something else entirely: these properties come with a distinctive set of issues, for buyers and sellers, which only experienced investors can identify. I write these words with direct knowledge of the Dallas-Forth Worth market, where navigating this (economic) landscape requires insight, intelligence, a proven record of performance and the skills to consistently and accurately evaluate distressed situations and spot the right investments.

The sale of these distressed properties is a win for everyone. By turning these homes around, and through our efforts on the ground in the Dallas-Fort Worth area, neighbors can see a community regain its sense of purpose. Equally important, recycling these distressed homes into quality retail homes and clean rentals will ultimately increase property values and aid those owners who are currently under water on their mortgages. Gone is a sense of hopelessness, worsened by the argument that sellers of distressed properties have nowhere to go.

In the Dallas-Fort Worth area, we can – and do – make a positive difference in people’s lives. With that rule in mind, let us move forward on behalf of those we serve.

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