Singing the Short Sale Foreclosure Blues

Who’s got the foreclosure blues?

Distressed sales.  You hear the term almost every day. Like most things you hear often, there are two sides to the story.

The fact is, not everyone is singing the blues these days. For some, the recent Trulia.com report saying that it is cheaper to buy a home in most markets than it is to rent, is good news. In the report, Phoenix and Mesa are both listed in the top five of the Top 10 Cities to Buy vs. Rent comparison done for the first quarter of 2011.

Times have certainly changed since the “mortgage-anything-you-can” height of the market. People are looking at location x3 again, financing options have changed, and reasons for buying a home may have even changed.

During one of our company events, I enjoyed this “tongue in cheek” rendition of the Short Sale Foreclosure Blues by my friend and President of Realty Executives, Rich Rector.

Short sales and foreclosures are a large part of the real estate market today and probably will be for a while. If you are facing foreclosure or have questions about your options, OR if you are now beginning to think it is time to quit renting, “Just Call Nick!” I’m glad to help…

Take a look at the video. The words are below – sing along if you’d like. 🙂

Well I bought at the top in 2005,

Life was great, beginnin’ the thrive,

Then, whoa,things took a major dive,

Got the short sale, foreclosure, repo blues,

Behind on my payments, market done tanked,

prices have fallen, zilch in the bank,

went to my lender and drew a blank,

I’ve got the short sale, foreclosure, repo blues.

If I could have, I would have paid,

If I could have, I would have stayed…

I’ve been Fannie and Freddie and FHA’d,

I’ve been Chase, Wells Fargo’d and BofA’d,

I’ve got the underwater, upside down,

short sale foreclosure blues…

I’ve been Fannie and Freddie and FHA’d,

I’ve been Chase, Wells Fargo’d and BofA’d,

I’ve got the underwater, upside down,

short sale foreclosure blues…