If you listen carefully, sometime you can find treasures of wisdom in the lyrical content of songs. One such song is “A House is Not a Home” by Luther Vandross from his1999 Epic Records release. In the song Luther says “A chair is still a chair, even when there’s no one sittin’ there, but a chair is not a house and a house is not a home, when there’s no one there to hold you tight And no one there you can kiss goodnight”.
When thinking of real estate, we constantly look at the numbers; be it price, value, equity, repair costs, profit or curb appeal (just to name a few). As millions of people lose their home, government and private sector programs have been launched to save the house. Whether by modifications, refinance or deed in lieu of foreclosure, efforts are financially motivated and if those strategies fail the family is left to put the piece back together alone. The psychological effect of displacement affect everyone. Children are uprooted, relationships are strained, neighborhood are blighted, municipalities lose needed taxes and crime goes up.
Real estate investors must remember that good business requires integrity. In this economy a good deal is a win win for all. Turn a house into a home.