As investors look to foreclosures and short sales to find the best deals in this current

market we need to be mindful that there is also a human factor with every deal! 

Every foreclosure means a family could no longer make the payment and was forced

to move from their home.  In most cases they are leaving with little to no money and

a tarnished credit rating.  It will take years for them to recover if ever.  We need to

remember behind every good deal is a bad situation for someone else.  Many investors

are having a tough time in the ever changing real estate market as well and are left with no option

but foreclosure.

As a Real Estate Broker I am working with many families negotiating short sales with banks, in

most cases this is the only option due to declining home values and the now infamous interest only

arm.  With each unique situation there is a common thread, a family will be displaced and it may

take years for them to recover.  It used to be the exception if you knew someone that was going

through a foreclosure but now it has become the norm.  I think almost everyone knows someone

that is or has gone through a foreclosure, short sale or deed in lieu of a foreclosure if not contem

plating one themselves.  So please be mindful of the human factor when investing and be thankful

you are not in that situation.

Chris Yatooma, President

Real Estate Investors Association of Oakland