“You mean, it’s ours? It’s really ours?”
They were so excited. Even after I handed them the keys, they were slow to believe that the modest Spanish bungalow was now in their adoptive custody. Over the course of four exasperating months, we must have seen and dismissed close to a hundred homes. This one needed too much work. That one had a poor kitchen layout. Yet another sat on the “t” of a subdivision’s entrance: bad feng shui, or so I was told. Before the market skies parted and yielded the seventeen hundred square foot, clay tile miracle that appeared to have met extinction in their price range, our flagging spirits were all but ready to pack it in. The fated mid-April discovery saved them from another year of apartment living. A challenge, at best, with a ten year old daughter in tow, let alone with a half-baked bun in the oven.
“Can we go in,” the wife asked in a small, cautious voice.
“Of course,” I responded. “It’s your house, Liz, you can do whatever you please.”
She ignored my extended hand and engulfed me in a fierce hug. Her husband clasped my shoulder in a vice grip which betrayed an adolescence spent laboring on the family farm in Iowa. His curt nod spoke volumes.
“You’re welcome, Mel,” I replied.
“Thank you both for hanging in there. I know it hasn’t been easy, and I can’t tell you how much I appreciate the patience and trust you’ve shown me. It’s been a tough slog, but I think we got it right.”
“Yes, we did,” Mel said, breaking his silence for the first and only time that morning.
“We would like to have you and your wife over as soon as we get settled,” Liz added.
“I’d like that,” I told her.
I meant it, too. I like just about every client I take on, but felt a special kinship with this couple for reasons that surpassed the extended time spent in each other’s company. After bidding the happy couple farewell, I glanced in the rear-view as I navigated my way down the tree-lined street. Instead of going inside, they remained rooted in place, holding hands and staring up at their new home.
I received a phone call from Liz this morning. Circumstances have it that Mel has been out of work for some time now. Another casualty of economic war. Unsure of what to do or where to go, their only readily apparent truth is that keeping the house is an impossibility at this point. Perhaps they'll move back to the Midwest, where Mel can look for a position on the farm. See just how much life is left in those old, gnarled hands.
This evening, I'll grab some Tums and make the long, short drive to the pleasant abode with the placard beside the front door that reads "Heltzer Residence: Est. 2005." I'll leave the reams of data indicating a value of 40% what they paid in the car. No sense in beating a dead house. We'll plant a sign in the front yard and add yet another chapter to the painful narration of the Greek tragedy that is post-bubble Phoenix Real Estate.
With an epilogue that is yet to be written, we soldier on.
*Names and specific circumstances altered for privacy purposes
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Sad. A too oft repeated tale.
And we do our best, being the honest agent...not over-promising, but being optimistic, because our hearts are breaking a bit, and we want to soften the blow.
Because we know that it not just "the product" or "the inventory"...it's a home, where people lived and hoped and dreamed, and let us in on a small piece of that dream.
Many of us feel your pain, Paul. Good luck.
This market has a way of taking the fun out of the job, Andrew. Were it not for the sense of purpose it gives me to help such folks crawl out from under the boulders that are pinning them down, I'd have punched my own ticket and opened a bait shop by now. Each story is heartbreaking in its own unique, but vaguely similar, way.
That's the God's honest truth, Michael. How very tempting it can be to provide a silver of lining, ray of hope ... whatever cliche the mind can conjure for delivering something (anything) positive to latch onto amidst such stark realities. Very difficult to navigate the line separating positivity from misrepresentation, and yet navigate it we must on a daily basis.
Sometimes I wonder if folks like these are the reason I'm in real estate.
Or, if folks like this sometimes make me wish I were not. This is a thought I never had until the past 3 years or so.
Things are different these days and I don't like it.
It's an interesting conundrum, Lenn. To a (wo)man, we all trot out the hackneyed notion that we are in this business to help people. These last couple of years have certainly tested the veracity of such sentiments. Helping those that truly need help is messy work. Much easier to be helpful when the assistance is wanted rather than absolutely needed. Many days I wonder how much longer I will have the stomach for what this job has become. When I don't like the answer, I just put one foot in front of the other and plow forward.
When I signed on for these type of listings I often over-delivered on service and slashed my commission to minimum wage (when I owned my agency). Now that I report to a corporate manager it's almost like being in a Twelve Step program.
No, Andrew, you can't work for free.
Still. Doesn't make it easy passing on a negative equity situation where they really need you but can't pay you.
There is nothing worse than telling people it is short sale time. We have so many unemployment foreclosures here, it is so disheartening.
Very sad indeed...it's a story that's played out thousands of times all across the country. The names, locations and story lines change but the overall circumstance and result is nearly identical.
Ah Paul, this is so sad. I'm sure they know you'll do right by them. I hate to see good folks hurt like this.
Your story above being played out in different cities by different agents is the epitome of what sucks about Real Estate.
I wish I could help....we all have at least a few of these, don't we? Don't take on more than you can, try to stay fresh enough to handle these tragedies.
Extremely sad Paul as we remember the hopes,joy and dreams of our clients when they purchased their home with our help only to get calls such as this.
I had two calls from folks such as yours on the same day, 30 minutes apart, and meeting with them was one of the hardest things I have ever done in my life. I can only keep doing this as deep down I know I'm helping them get back onto their feet and move on with their lives.
My reply would be virtually identical for each comment, so pardon the collective response. It is, indeed, a sad tale. As suggested, it is even sadder that it does not constitute front page news. This is happening everywhere. Maybe in my market more than most, but this is a national phenomenon with no end in sight. I struggle with Andrew's crisis of conscience every day. It feels wrong to profit off the misery of others, but it is an important service. One which dictates I be paid for lest I find myself in the exact same predicament.
Of course, the day the suits at Random House decide to cheapen the brand by retaining the dubious talents of obscure niche bloggers, I'll leave this madness to the rest of you carrions.
Or there's always that bait shop. ;)
Paul, welcome to Real Estate in 2010. I have left many appointments in tears. (and have for years)
Who would have thought a 535 house built new in 04 would be bought in a foreclosure in 07 for 429K and is now being sold short for 345K.
I really wish this was one of your great pieces of fiction, Paul. The reality is so incredibly sad. It is hard to work through the helpless feeling and try to get them to a place where they can start again.
"Many days I wonder how much longer I will have the stomach for what this job has become".
Paul - Each morning I look for some positive and encouraging news to get through the day with optimism and good energy.
.... unfortunately it's not always so easy!
Paul,
Best of luck for a positive outcome!
Good comments here and Missy made an excellent one. I am short selling a home for a family who has lived in their home for 10 years . . .
Hi Paul, I so feel that clients pain from reading your post. Way too many sad chapters of this novel are yet to be written. In the end we play the cards we are dealt !
Dear Paul,
Your eloquent and poetic writing skills illustrate a heartwrenching scene. As evidenced by some of the responses, it resonates with many who are witnessing similar real-life stories.
Thank you for sharing the experience through superb writing. It really is not easy to paint a mental picture verbally, and you do a great job of it. (Random House would do well to bring you on board).
I know that everyone who is faced with difficult circumstances can have their pain eased (even if just a little) by the help and caring shown by others - a spot where professionals in the real estate industry can shine.
Thanks again, Paul, for writing.
That's truly a heartbreaking story - and really does hit home about both the joys and the sadness this business brings. Hopefully your joyful moments will keep outweighing the sad ones...
This is such a gut-wrenching profession as it touches the very core of someone's existence -- shelter, dreams, identity, etc. I have seen a few colleagues (REALTORS) of mine also go through this process as well and I wonder that no matter how much planning and resourcefulness my wife and I bring to bear, with some unforeseen circumstances, there go we as well and it's scary.
Paul, what a poetic representation of a tragic truth. Excellent post! I have counseled those who have lost everything in one tragedy or another and in more ways than one. I'm an American Red Cross Volunteer in addition to being in real estate and have spoken to people whose homes have burned to the ground in front of them. One of the first and foremost things I try to help people do is to 'Focus on the solution rather than the problem.' As heart wrenching as it is, what was given can also be taken away from any of us at any time through natural disaster if nothing else. The pain cuts deep when the loss is something as important as a home, but there will be another someday if you keep putting one foot in front of the other and unlike many fire victims who have lost the home, all the contents, and sometimes family members-- foreclosure and shortsale sufferers still have their family. Somebody always has it worse.
Never lose hope, and keep the dream alive. Oddly enough whenever I am confronted with this kind of situation and I'm trying to help lift someone up from despair....I always refer to the Phoenix; the fictional bird that dies in a burst of flames and is reborn from the ashes....new life created from ruin. A fitting image of the times.
As always, you have a very deep sense of what's going on and present it to the reader with points to ponder. Sad...but reality for many
Great comment Michelle....If your alive you still have options....
What a heartbreaking and well written tale of this sad real estate crash.
Well Paul, I didn't see that coming! I hope it's not as bad in the end that you thought on the drive. It's sad and we see and hear of it far too often. Thanks for sharing!
sad story
Short sales....sucking the fun out of real estate since 20xx. Well done, P. Sad, but well done.
I am so thankful that my market does not have this at all. The very few homes that are in foreclosure in our area were due to poor lending practices rather than values skyrocketing and crashing down a few years later. I know that I am very fortunate and I think that in a small way, you are very noble for telling their story so eloquently and standing by them when they really need you. Like you said, "no sense in beating a dead house" and that is exactly what they need to hear from you! Good luck.
Keep smiling,
Karen
Paul- A very eloquent and articulate post, thank you. Ultimately, change is good.
"I like just about every client I take on"
Same here which often makes our profession very rewarding but sometimes difficult and emotionally draining, especially in circumstances like these. I will say that the way you've written this should make anyone realize that they are still in good hands with you. I would also say "good luck" but they need more than that, they really need you to help them through this as honestly and compassionately as possible.
And...you will.
It's always so wonderful to see the end result of our labors. Thank you for sharing this post.
Been there. Sometimes we are more grief counselors than sales and marketing folk.
I left Social Work a few years ago because I was burned out from dealing with trauma and sadness. Now I believe that I am back in Social Work with a twist of Real Estate. Talk about coming full circle. These are the sad stories that I work through with clients much, much too often these days.
Keisha sums it up real well in comment #36. More than ever we have to be active listeners with a strong core of empathy and compassion. As agents we see both sides, young families that through low pricing and low interest can finally buy a home - and other folks having lost their jobs, lost their health or just fell victim to wrong choices and now they are foreclosing or short selling. The story you share in your blog is wrenching. I try to tell myself every week that it's my job to assist in selling/buying the clients' home, but it's their life. It sounds like whether you're sharing in good news or bad, you are there for your clients. Well done.
LOL @ Lawrence. I think someone skipped the ending.
All, thank you for the input and encouragement. Both are truly appreciated, as I think most of us exhaust our personal supplies of optimism and determination on a daily basis.
Allow me to add just a hint of snark, if you will humor the indulgence. I see no shortage of posts and calls to action to "raise the bar" of our profession. Making pledges and taking oaths to somehow allay the public's concern and inherent distrust of the industry. All of that touchy-feely bit of ivory tower academia reads well in an online forum, but we earn our reputations and trust in the kitchens of our clients. Over coffee as we try to help them unravel the mess that their financial lives have become. We do our jobs. If ever an opportunity existed for we agents to evoke the favorable public opinion we seek, it exists now. Not in the flowery prose or promises that we heap atop existing promises, but in how well we comport ourselves in this market which demands the best we have to offer. We take care of the clients who really need our services at present and the reputation takes care of itself.
Your ability to express yourself and evoke emotion is amazing. I know many of us experience this with our clients and do what we can to help them in this difficult situation. I try to stay enthusiastic and do what I can to help people in these situations.
When I started reading this post I was getting that feeling that I just love everytime I close a deal - and then the world came crashing in - there is just way too much of this right now. I hope that there will be some good in the epilogue.
P, #36 should be a stand alone post. You nailed it. Again.
Paul, I read this at the Scottsdale Property Shop. I hate to see stuff like this. It can happen to anyone, really, it can.
P.S. glad that you posted it here, I was beginning to worry a bit...
Worry about what, William?
I feel for your folks and I hope you can help them navigate a short sale. I wish REALTORS in general would get with the program and try to sell short sales to help the injured home owner and the sliding market.
*aul, Your post really reaches out and touches me. We have to do what we can to ease the pain.
The fact that you care for your clients is evident in your writing. At the very least, they were blessed by that and that's no small blessing. Too many consumers end up with agents who don't give a hoot. Oh, to have a magic wand.....