Realistic Idealist

My morning was a bit of a whirlwind with showings, errands to run, and several meetings which spilled over into the afternoon.  Weather-wise, it appears this week is going to be a pleasant one, and hopefully there’ll be more showings and sales of my listings.  I’m still rooting for 305 W. North in Manly to get sold more sooner than later because it really offers more bang for the buck than other homes in its competing price range.

It looks like we’re still getting quite a bit of activity on 402 – 21st St. SE here in Mason City, and likely so due to it being priced to sell.  I still have my bets on one of those young couples in attendance at my public open house on Saturday, and have it snapped up before anyone else. It truly is a great long-term investment opportunity.

I’m sure the bank foreclosure that hit the market last week is already under contract, but nearly all who’ve ever purchased one of those unctuous living quarters, experienced far more expense and additional headaches after they paid their money and took possession.

When involved in the very few I’ve sold over the years, yours truly always warned the buyers that they’re likely buying a pig in a poke, and to always remember I mentioned it whenever finding just one more hidden defect in need of immediate fixing.  Just remember, bank foreclosures are relieved from providing sellers’ disclosures which immediately raises a red flag with me.

One that I was involved in some years ago had major plumbing and electrical issues to where the buyers nearly had to take out another loan to get those repairs done just so they could finally move in.  I was convinced the previous owner became hateful towards the bank that was foreclosing on him, so he figured he was going to get his un-warranted revenge.  Even today, buyers looking at those distressed properties think they’re getting a steal of a deal, but refuse to realize there are underlying reasons they’re priced so low.

Personally, I would rather buy a home at a discount that hasn’t been updated for generations, instead of purchasing one where I’d have to un-do and then re-do numerous so-called “improvements” that previous owners had made prior to a bank taking it in on inventory.

One big question that often hits me, is why people who’re being foreclosed on, don’t just clean them up and list them for sale at a reduced price so to at least get enough to pay their loan off.  I see this scenario far too often to where there’ll be a day when I’ll start asking questions regarding the reasons why they just didn’t sell them when they had their chances, and possibly keep from getting long-term hickeys on their credit reports.

One of my loyal and faithful clients called for advice today regarding his possibly listing his home and moving to the Twin Cities.  His reasons for wanting to move were similar to what I’ve heard from others, and the main one being, “There’s no opportunity for advancement in our limited job market.”   I couldn’t help but agree with him, but did ask him to make absolutely sure it’s what he wants to do, as well as getting hired by a company up there that specializes in his field of expertise.  I know how worrisome he is, and making that big of a life decision without a job in place, would send him into a psychological spiral.

I have an appointment to re-list a commercial property tomorrow and it’s going to be priced many thousands lower to where it should get sold more sooner than later.  Since it’s in a great location, I’m confident it’ll sell to a speculative investor for future profit.

Several days ago I got a good laugh out of a conversation I had with several people whose family I’ve worked with for a number of years.  As he and his wife were walking out, he stopped me and said, “You know Joe, I’ve decided that you’re an idealist, but there are also times when I’ve found you to be a realists which sounds sort of conflicting doesn’t it?”

After getting a good chuckle I said, “Well, you’ve discovered the tug-of-war that’s been going on in my core since I came down the chute, but now that you mention it, perhaps you can now brand me as a realistic idealist.”  He and his wife seemed to be OK with my new MO, so I guess that’s what I’ll work all the harder at becoming.

Now let’s think about how a realistic idealist would function in society.  Let’s hope that one would be realistic about a given situation, but work at making it better in an idealistic fashion.  It sounds almost like what I’ve told people in certain situations which goes, “Be sure to prepare for the worst, but continue working and hoping for the best.” What do you think?

Tonight’s one-liner is:  It’s best to develop a passion for learning early on in life, because  you’ll later find that you’ve never stopped growing.

Related Property:
402 21st St. SE Mason City
Joe Chodur

About the Author | Joe Chodur

First of all....Joe Chodur really doesn't like talking about himself but this is what we have found out about him.

Joe Chodur began his real estate career in 1981 during the...read more about: Joe Chodur

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