A short sale story.

04Mar08

The current Real Estate market in Phoenix is a hot topic no matter who you talk to. Here’s one of my stories. On Saturday I met a guy that I played poker with. He was a real nice guy even after he lost his money. While we were getting ready to leave he mentioned we were all welcome to come and play poker at his home next time. Of course with a bunch of guys hanging around, someone asked if he’s got a TV in the same room as the poker table. He said yes and included that it was a 73 inch flat panel. Of course that got our interest, so we said we’d talk about it later and get back to him. On the drive home Real Estate came up. He said he just sold his home and it would be closing in a couple of weeks. The part that really surprised me was that he said it sold as a short sale. Wow, I just couldn’t believe what I just heard. He said they really like where they are now because the home is bigger and their rent is less than on the home they just sold. Here is a guy that just lost money playing poker and has 4 kids, a 73 inch flat panel TV and just sold his home as a short sale.

That story really makes me wonder what we as Americans really value. We have so much stuff and never even think about living without it. Is it important to us to save and insure the future of our family and ourselves? Is having and aquiring more stuff more important than owning a home? I always believed a home was something you valued more than that. I really feel for these people who are losing their homes, but if they have the same attitude as the guy I met, maybe some are better off renting a bigger home?

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