- Image via Wikipedia
Yes, there’s a difference, a HUGE difference! Here are a couple examples:
Distressed homeowner: Someone who can not afford the mortgage any more, due to unemployment or other reason for lack of income.
Dissatisfed homeowner: Someone’s who’s unhappy about their home not being worth as much as they want it to be.
Often I get referrals to folks who want to sell their properties. One lady I spoke with told me she was having problems with her home. So, as the attentive real estate professional, I probed to find out what was going on. She went on to give me a plethora of neighbor issues, noise, the fact that her home isn’t worth anything any more and that she wanted to sell it.
In my conversation with her, as much as I wanted to help, I learned that she was not experiencing any “hardship” in the sense of not being able to afford her home financially. She was still employed with no decrease of income since buying the home. Plus, she had no increase in monthly mortgage payments — really, the bottom line was that she didn’t like the fact that her home wasn’t worth as much as it once was.
Welcome to homeownership in 2010! My home’s not worth as much as it was either but I still have a place to live.
I’ll continue to count my blessings…