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Elaine Abercrombie: Don’t Let ‘Buyer’s Guilt’ Haunt You

Purchasing foreclosures is actually good for the market and the economy

Elaine Abercrombie
Elaine Abercrombie (Roe Anne White photo)

It’s probably no surprise that homeowners who have faced the ordeal of foreclosure feel a certain measure of shame or guilt about their experience. Whether or not those feelings are warranted, it’s hard to survive the process completely unscathed.

What is surprising is the recent development of “buyer’s guilt.”

Some who are fortunate enough to afford to take advantage of a low-priced foreclosure offering are suffering some degree of remorse about the transaction.

Whether it’s because they got a deal that none of their friends or family did, or whether they just feel badly about someone else’s unhappy situation, the emotions are real — but they should be approached in a different way.

These buyers are not necessarily capitalizing off someone else’s misfortune, but actually helping by removing a distressed property from the market and maintaining property values.

It’s actually good for the market and the local economy for buyers to take advantage of these bargains.

If you have some doubt about buying a foreclosure, you can ease your concerns and do some good for others.

When you make your move, why not make a donation of household goods instead of packing them in boxes? Certainly a local shelter or charitable organization such as the Salvation Army can improve the lives of others with your kindness — and put you in a great frame of mind about your move!

Elaine Abercrombie, a broker with Village Properties Realtors, is president of the Santa Barbara Association of Realtors. She can be contacted at .(JavaScript must be enabled to view this email address).

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