Sarasota homes for sale prove Maryland raffle winner Karen McHale should be grateful instead of complaining about $200,000 profit.
$50.00 Raffle Ticket Wins
Colorado Woman 1.2MM House!
Why did CNBC even report on Karen McHale “troubled” asset?
Karen wins a raffle off a $50.00 ticket.
Her prize is a 1.2 million dollar house in Maryland.
Oops, the house no longer is worth 1.2MM. Housing market collapse makes house worth about $650,000. Karen can’t afford to keep the house, owing $300,000 in income tax plus property taxes, maintenance, etc.
She cannot afford the house.
$200,000 Profit Is Not Good Enough?
Karen finally sells the house for $650,000, pocketing $200,000 after all taxes and fees.
Two hundred Thousand Dollars…$200,000! WOW! Karen is upset…the “angst” she went through apparently is not worth $200k profit.
With all respect, Karen, I can think of MANY Floridians, not just Sarasota-Bradenton property owners, who gladly would exchange places with you…and walk away from their homes with $200,000 profit.
Every day, I talk with Sarasota homeowners facing foreclosure. Already, they’ve lost their jobs or their jobs are on the chopping block. The Sarasota homes they’ve owned for 10 or more years, for instance, are worth less today than what they owe.
Their homes are “underwater.” They owe more than their homes are worth.
Now, they must make a tough decision: short sell or walk away with NOTHING in their pockets. They are not walking away with $200,000 for their trouble or “angst.” Karen McHale of Maryland, though inconvenienced and troubled by the Maryland real estate collapse, should count her blessings for selling and profiting.
What do you think of Karen McHale’s situation? Are you sad for her, or are you wondering how her story gained CNBC’s attention as newsworthy? Please scroll down this page to share your thoughts. How many people do you know who are in jeopardy of losing their home?
…or who already have lost their homes?
Sarasota home owners, as you may or may not know, would LOVE to sell at profit…even a small profit.
