It is done for your true real estate nine to one one mid week update with your local real estate pro Lisa True. Lisa, we know that markets change, times change, and that means that in this case, the types of distressed properties that are out there have changed. Tell us about it.
Right now. We are seeing a new type of distress caused by things like student loans, condo fees, AHOA fees increasing, and here's a big one, insurance increasing. Many people are really struggling with affordability now in their monthly payment. And the good news compared to last time is many of those people do have equity, not all of them, but
many of them do. But they're struggling and they really need to look at the options and look at can they afford that property with all of these changes that have been going on.
What is it that people should be doing. If they're beginning to struggle making those monthly payments, I think they need.
To look at is it a short term or is it a long term issue? Has the affordability just changed due to insurance increases, condo fees. Many people that have even owned condos generationally can no longer afford those and no longer makes sense. I believe the first one out does the best, and you really need to kind of be proactive on that. The other thing that's causing distress unfortunately is divorce. We're seeing income household incomes being divided,
but expenses remaining the same. So you really have to look at is a short term long term. If it's a short term thing, you can probably hang in there, keep your equity, keep your low interest loan. If it's long term, you should deal with it sooner than later.
And speaking of sooner than later, if you have some challenges, if you have questions, get in touch with the truth sooner than later. They can help. Call five six one, nine, seven, two eighty three, twenty six, visit True real Estate nine one one dot com or just google True group that's t r EU group