( This post is only partially in jest and partially serious )
While places in the Bay area like Palo Alto and Menlo Park only have a few foreclosures, other cities like San Jose or Daly City can have up to 10% of the homes for sale foreclosed, and 30% can be short sales at any given time. The foreclosed homes are generally vacant, and some of the short sales are also. The problem with this is that the longer a home is vacant and not maintained because either the owner is a bank or has no money, as in a short sale owner, the less valuable the home becomes. Now with the problem of foreclosure moratoriums in some states the vacant home problem will get worse.
My solution? Distressed Property House Sitters
I think that the banks who own the properties, or who hold the notes should hire house sitters for these vacant properties. They could be like home stagers, but live there instead of just leaving their furniture. This could provide employment and homes for many people who now have neither, and help protect the bank’s assets.
Of course there would need to be rules, like the home can be shown at any time, and any changing of clothes needs to be done in a room with a closed door. Also, as much as I love dogs, it would probably be better to have a no pet policy, but I think this could be a win- win situation for both parties.
This could also help the busy listing agent by taking some of the burden of maintaining a vacant property off their shoulders.
Anyone agree with me?
Comments(0)