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Location: Upstate NY native, now living in Houston
663 posts, read 2,263,316 times
Reputation: 216
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Quote:
Originally Posted by bentlebee
The house across the street from mine is a foreclosed home and just after 2,5 years, sold...the new owner paid $ 100 K less than the investor who bought it from the builder and it was never lived in. The investor took all the appliances out and more (blinds, mirrors, etc.) and never had the utlities on so the sprinklers were never used and the yard was all weeds. The new owner moved in a month ago bought some blinds, mirror, appliances and to the suprise of all neighbors... he just put scott fertilizer, stuff against the bugs, on the grass and a lot of watering and within 2 weeks the yard was green and except for a little part of the yard, it is weed free. So it didn't cost him new sod (huge yard) and we learned that even a foreclosed home with a very nasty yard can be solved with not too much money
We recently had 2 people buying foreclosed homes which are looking great now.
This is great news! I am sure it has somewhat improved the value of your home as well, now that the grass is green and the house is being taken care of and lived in!
This is great news! I am sure it has somewhat improved the value of your home as well, now that the grass is green and the house is being taken care of and lived in!
Well I guess not I still have a empty home next to me. That was on the market as soon as the owner closed with the builder.
Although he wasn't an investor he was a owner who just wanted to live in a bigger home and selling his other home in the same community, which he was not succesful in. Listing price way to high for both homes....both homes are completely white inside...white carpet, white cabinets...white tile...even a white christmas tree showing in the pictures on realtor.com
After 2.5 years of lowering and raising the price over and over (always listed by realtors, never FSBO), the owner moved out of State and gave the keys to the mortgage company who are in the process of foreclosure now which takes longer than I expected in a case of just turning in the keys! So since Nov. 2007 the home is empty and the house is not even on the market....the grass is mowed but so short that they are killing the grass which had water until March 2008 but was never fertilized since the owner paid for it but the one mowing it before March, used the fertilizer for his own yard., I found out by talking to the next door owner and the one mowing it standing next to me and when the owner received a phone call he told me that. (he did that because the payment for the mowing didn't came on time).
But for every house sold...it sure is good for the neighbor hood and nice for the home owner who gets it for a nice price and is motivated to make it a nice place!
Imagine the lack of maturity and common sense (to say nothing of practicing self-control) of these people who vandalize their/lenders/banks property? People who have no legal ties to a house coming to steal and destroy is one thing (they are but crooks and vandals), but doing this to a house that is legally connected to you? Unbelievably stupid as well. Reminds me of the spurned lovers who attack those who hurt their feelings. Our prisons are full of people who don't think logically about the consequences to their behaviors. The law enforcement/incarceration/corrections system is one of the few big time growth industries in America for a reason. These vandals and thieves belong incarcerated within that system.
Last edited by Ria Rhodes; 06-26-2008 at 02:09 PM..
I think the houses that are being vandalized are the ones that had actual people living in them that were spurned by the mortgage lenders and therefore feel that destroying the property is justified.
The ones that look empty and are fine are the ones that were owned by Investors that left the place for foreclosure.
So, if I was in the foreclosure market for a place to live and don't want some weird surprise in the future, I'd try to find ones that were owned by investors. Maybe check the Property Parcel Title History... to see if it was Sole Ownership or something like that vs. husband and wife or joint tenancy.
I think the houses that are being vandalized are the ones that had actual people living in them that were spurned by the mortgage lenders and therefore feel that destroying the property is justified.
The ones that look empty and are fine are the ones that were owned by Investors that left the place for foreclosure.
So, if I was in the foreclosure market for a place to live and don't want some weird surprise in the future, I'd try to find ones that were owned by investors. Maybe check the Property Parcel Title History... to see if it was Sole Ownership or something like that vs. husband and wife or joint tenancy.
-chuck22b
The one I decribed before was owned by an investor.... He took as much as he could get out of the house...I wish the would go after him for grand theft. He told me that he had a zero down mortgage and than leaving with all the appliances, mirrors and leaving damage behind...He even asked me for a broom to sweep away the glass from breaking the glass plate from the micro wave!!!
So you can find demaged properties from all kind of owners...owners?, they actually never owned one piece of the home...
The one I decribed before was owned by an investor.... He took as much as he could get out of the house...I wish the would go after him for grand theft. He told me that he had a zero down mortgage and than leaving with all the appliances, mirrors and leaving damage behind...He even asked me for a broom to sweep away the glass from breaking the glass plate from the micro wave!!!
So you can find demaged properties from all kind of owners...owners?, they actually never owned one piece of the home...
Oh yea, sorry... your right. That bas____! I was just generally speaking from what we saw of houses that were foreclosed. Investors usually should be less ticked off since they were "investing" and should know the consequence of what they were getting into. There's always the possibility of lost and gain in investing. Sadly, a lot of new "investors" came into the pool during that time.
Oh yea, sorry... your right. That bas____! I was just generally speaking from what we saw of houses that were foreclosed. Investors usually should be less ticked off since they were "investing" and should know the consequence of what they were getting into. There's always the possibility of lost and gain in investing. Sadly, a lot of new "investors" came into the pool during that time.
-chuck22b
The guy told me that he owned 22 houses and was afiliated with the mortgage company and wasn't paying a dime, and was not going to pay the HOA (at that time according to him the $ 800.- HOA fees that wasn't paid had also an attorney fee of $ 1,300.- on top of that)....I guess this guy thought he was doing great and showing how a cool guy he was and how knew the market and how things work... it made me sick, at first I thought he was full of b.s. but at a HOA meeting I found out that he was speaking the truth and just a scumbag...I'm glad a nice guy bought it for a great price and the property looks so nice in less than a month. So there is hope for all home owners who are worried like many people in our neighborhood. We all moved here in '05 and this area was getting one new community after another so it was also hit hard. Luckily ours is doing reasonable.
...and another reason why the values of those homes are what they are. Yes, foreclosures are such deals! Keep on thinking that. There's a reason why the good ones are getting multiple bids... and the bad ones... they'll probably be left for bulldozing.
... don't really blame them.. they're probably in the worst place in their lives.
I don't blame someone if they've got a straight flush and they go all-in (only to be beaten by a royal flush).
I don't blame someone for being angry for being laid off because of budget cuts in the company.
I do blame people for being irresponsible with their money and being forced to foreclose their home. Don't buy a home you can't afford with your salary. From the article, it sounds like that person(s) was a loser. His house was the dump of the neighborhood... and I'm sure nobody was surprised that if anyone was evicted, it was him.
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, I found out by talking to the next door owner and the one mowing it standing next to me and when the owner received a phone call he told me that. (he did that because the payment for the mowing didn't came on time).
He took as much as he could get out of the house...I wish the would go after him for grand theft. He told me that he had a zero down mortgage and than leaving with all the appliances, mirrors and leaving damage behind...He even asked me for a broom to sweep away the glass from breaking the glass plate from the micro wave!!! 
Foreclosures or just cheap homes?
