Real Stories

Son Turns to Mother for Real Estate Help

Jim heard some negativity about the real estate market but never believed it.  He had his own reliable market source – his mother, a REALTOR® - who helped him and his fiancé, Lindsay, move from their Lawrence Harbor bungalow to a larger home.  

“We started looking in September of 2007 with no trepidation,” Jim said.  “I went straight to my mom for help because I knew that she had access to the MLS, that she would call me often, and that she would explain the process to me.”

After two months of house-hunting, Jim’s mom and REALTOR®, Peggy, called him from a Sheriff’s Sale, or auction of a foreclosed home in Parlin with a great price.  Peggy estimated that it was priced at 40% below market value.  

“My mom heard about the Sheriff’s Sale that day,” Jim said.  “By chance, a house in Parlin came up, and she called me up to see if I wanted her to bid on it for me.  She needed to know my decision right away.”

Jim and Lindsay had to bid on the home without getting the chance to even see it.  Even after closing, the owner didn’t let the couple inside the home until he left – a condition of the auction.

Another condition of the auction was that the couple had to pay all back taxes and liens on the house. 

“Lindsay was a little scared but I was hopeful,” said Jim.  “I could see its size from the outside and knew it was a great value.  I trusted my mother’s advice to buy the house.”

The couple closed two months after their bid, and because of the affordable price of the home, they had the opportunity to renovate and fix any of the issues in the home that they were unable to see before buying it. 

They repaired the water and termite damage, fixed the roof, siding, paneling, and drywall, and replaced the plumbing and heating in the home.  The couple knew they would not have had enough money to make the renovations if the house had not been in foreclosure.

Peggy also helped Jim and Lindsay make a great sale of their bungalow home.  

“The first viewer fell in love with our house and offered full asking price,” said Jim.  “We closed within a month of the offer.  My mom called it her easiest sale ever.”

Jim and Lindsay’s experience gave them important knowledge about real estate.  Because of their success at attracting a buyer, they learned that staging a home is important.  

“We cleaned and put away excess furniture,” said Jim.  “The buyer realized that she would fit right in.”

Jim also learned that foreclosures can offer buyers the opportunity to renovate the home to their liking.

“My favorite part of my new house is its openness,” said Jim.  “I took away a bedroom to add to the living room.  We can now have our friends and families over for dinners and holidays.”