According to RealtyTrac, 1 in 70 homes have received foreclosures notices since January, 2010 – a total of 1.7 million houses in the U.S. Was your Thomasville home one of them? In previous blogs, we’ve covered several ways to avoid foreclosure, but a rising trend has brought another possibility to the forefront. 

According to a recent Pew Research Center study, many individuals are surviving the economic blues by expanding their households. By the end of 2008, more than 16%, or 49 million, of Americans lived in a household with more than one generation. Although the statistics aren’t back yet for 2009 -2010, experts expect the numbers to be even higher. 

These Americans aren’t all young college graduates moving back in with mom and dad, either. Parents have moved in with children, children with parents – somehow, even siblings have managed to live together in relative harmony. This trend spans across the board from single parents to elderly grandparents. According to the report, approximately one in five adults ages 25 to 34 and 65 + live in a multi-generational home. 

Are you suggesting I let family members move in?

Actually, yes I am. Now, depending on your family dynamics, I realize this might be the equivalent of inviting World War III to your doorstep. However, if you face losing your Thomasville home to foreclosure, you might at least stop to consider the possibilities. For instance: 

♦   More working people in the household means more ability to pay the mortgage and stop the foreclosure.

♦   With more family members, you have a stronger family influence on children living in the home.

♦   With more people, responsibility is shared more.  You won’t need to do everything on your own. 

No, it’s not an ideal situation. However, if you’ve said, “I’d do anything to keep my home,” did you mean it? Does the definition of “anything” include family World War III? Could you sit down with your family members, work out a set of compromises and live in harmony? If you’ve tried everything else, this may be your best bet for avoiding foreclosure on your Thomasville home. 

You never know; you may even come to like it. 

If you’re looking for a home to support a multi-generational household, First Thomasville Realty can help. Call us at 229-226-6515 or email info@FTRealty.com  for more information.

Although the economy has been a catalyst for many issues, some of the trickle-down effects have had positive effects on Thomasville homes. One of the most notable is that families are drawing closer together. 

Over the past thirty to forty years, the “steps” to take for growing up were always one, grow up and two, move out. Few parents ever considered that their now adult children might be moving back in to their quiet, empty Thomasville homes. However, with the economic problems hitting millions of Americans, the number of multi-generational households is growing. 

During the Great Recession and more specifically in 1940, approximately 25% of households were multi-generational. Homes often held children, grandchildren, and sometimes even great grandchildren – four familial generations. However, as the U.S. economy began to prosper and the baby boomer generation grew into adults, more homes became single family households. By 1980, only 12.1% of homes held more than one generation. 

Now, the percentages are once again beginning to climb. Loss of jobs, foreclosed homes and lack of security has contributed to approximately 49 million Americans, or 16.1%, living in multi-generational homes. While this is far from ideal for those in a hurry to leave the nest, the benefits are many. 

I once asked a single mother what it was like moving back in with her parents.  She said, “It was hard at first, redefining the boundaries, but having my parents around has been a blessing in disguise. My kids have a stabilizing influence and extra attention, while I get occasional breaks that I normally wouldn’t get. We eat dinner together too, which helps build the family atmosphere for my kids. It’s not all smiles and roses, there’s a lot of compromise, but it works.” 

For those who have been thinking about letting your family move in to your Thomasville home, try to consider more than just the negatives. Look at the positives as well.  And what could be more positive than closer family ties? 

Whether you need to upgrade to a bigger family home or downgrade to a smaller one, we can help. Call First Thomasville Realty at 229-226-6515 or email us at info@FTRealty.com  for more information.

It’s true.  There are a lot of parallels between buying a piece of Thomasville real estate and running a marathon.

The Starting Line

At first, there is excitement. The idea of buying a new home pulses in your veins and you can’t wait to get started.  You’re like a runner in the blocks just itching to begin. Your muscles twitch in anticipation with every piece of Thomasville real estate you see. That’s when the real adrenaline rush kicks in.

Start Out Slowly

Keep to a steady, consistent pace and you’ll make it to the finish line.  There’s so much to do before you can get your Thomasville real estate. Home appraisals, inspections and financing to apply for…

You start to think about all the ‘what ifs,’ like what if you don’t get the financing, what if something goes wrong, what if… goes on forever.

Stay Mentally Tough

Don’t give into periods of self-doubt. Remember all that you’ve done and have faith in yourself and your real estate agent. Think about how hard you’ve worked and how rewarding it will be when you’re in your new home.

Hit the Wall

You feel like you simply can’t go on any more and the ordeal is never going to end. Your mind hurts from the strain, but you keep pushing onward because it’s the only direction you can go after coming so far.  Remind yourself that you’ll get past this feeling.  Keep day dreaming about that finish line.

Breakthrough Bliss

Suddenly things begin to happen.  Home inspection reports come back.  Financing is approved.  You begin to breathe easier, the pain goes away, and you are sailing free and clear toward the finish line.

The Finish Line

You sign all the papers at closing and the keys are placed in your hand.  Congratulations!  You’re a winner.

When you’re ready to buy a home, First Thomasville Realty can help you from start to finish.  Contact us today at 229-226-6515 or email us at info@FTRealty.com .