Is Real Estate Really ESSENTIAL?
With so many cities, counties, and states declaring we must not leave our houses to work unless your work is classified as “essential,” it has many wondering, is real estate really essential? I will let you decide.
A wife lost her husband in a tragic accident and, now, with two children and bills quickly piling up, the three-month mortgage deferment is not enough to help since her husband didn’t have life insurance. She can’t afford this home and needs to sell to get the equity out to be able to buy a much smaller home in the same school district so her children don’t have to be more traumatized than they already are from losing their father.
A man was transferred for a new job right before everyone was told to work from home. His company will allow him to work from home but his “home” has been a hotel since he moved three weeks ago. Now with hotels closing their doors, he is being kicked out and needs a place to live and work.
After a fall, an elderly woman cannot care for herself or her home any longer. She and her family do not want to put her in a nursing care facility due to health concerns. They need to sell her current home to afford home health care and they don’t want to move her in with them as her son is an ER doctor and could potentially cause her to be ill. They decide they need to buy a small, one level townhome that could be used as a rental property in the future.
A retired couple lost most of their life savings in the stock market over the last month. Though it is paid off, hey must sell their large home and move to a smaller, less expensive condo. They will be able to save the profit from the sale while lowering their monthly expenses.
A family’s home was destroyed in a tornado. The temporary housing they had is coming to an end and they must find a place as quickly as possible.
What did you decide? Is real estate really essential? Certainly, consumers and agents need to be smart and safe. Anything that can be handled virtually needs to. However, as our history has shown us, if the housing market crashes or stops, our entire economy is negatively affected. Contrary to what some may think, for most Realtors, it has very little to do with the paycheck. It’s about taking care of people and coming up with solutions. Every transaction has a story and every story is about humans. Let’s do our best to take care of each other.
Michelle Froedge is a residential Realtor and Principal Broker in the Greater Nashville and Williamson County areas of Tennessee. “Mom” to four-legged fur baby, Tyler, Auntie to Zelamie, she is a vegetarian and sings in her spare time. Michelle has lived in Nashville and Franklin since 1997 and has been selling homes since 2004.