Home : Blogs : Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR : Barbara Duncan's blog

Is there a market for used water heaters?

There must be a market for used water heaters and used central units. I seem to be getting an REO a week and they have usually been occupied for a year or less and were owned by the sub-prime borrowers who had nothing to lose.

The one I went to today had no water heater, no A/C compressor and lots of holes in the ceiling where they probably went up and stole the heating unit also. Faucets in some areas were missing. The house was a wreck and it had been a good house just two years ago. Others that I've gotten are the same with items stolen.

It really is hard to believe that someone can go through a house that quickly and destroy it. Why did they want it in the first place? They fought and fought to get a mortgage because they longed for a house. Then as soon as they get it, they destroy it.

Are you other REO'ers finding the same thing?

Posted by Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR on 09/12/2007 10:04 PM

Comments (5)

searcy, real estate, houses, homes, ar, arkansas, open houses, reo, tours, auctions, career

5 Comments on Is there a market for used water heaters?

I've had two REO sales this year, the houses had been taken care of for the most part......I wonder if vandals got in or if the owners were spiteful about losing the home?

09/12/2007 10:17 PM

by Debbie Malone, Realtor (R), Lynchburg, Smith Mountain Lake, VA (RE/MAX 1st Olympic)

Recently, the Arizona Republic had an article on house "Strippers". They would find an REO, go in and take EVERYTHING! Tp holders outlet covers, outlets, circuit breakers...

09/12/2007 11:01 PM

by Jim Little, Your Sun City Arizona Realtor (Ken Meade Realty)

It's amazing what people will steal from a vacant house. Here in Georgia, we've seen cases where someone has cut through the walls and taken out the copper wire!

09/13/2007 06:44 AM

by Patty Keller (AnotherME, LLC)

Thanks for the comments. The sellers shouldn't be spiteful because they were probably not qualified to buy in the first place. Vandalism is also a big issue. I did not know about house "strippers" but I do believe it has spread to Arkansas. Lots of the houses are isolated and there is no way to protect them. I have found several instances of stolen copper wire. But carrying away the large items requires a lot of planning and nerve.

09/13/2007 07:28 AM

by Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR (RE/MAX Advantage)

I used to work in Detroit Michigan and renovate "crack houses" in the city and outlying areas and what I witnessed in these houses was unbelievable. Wires pulled out of all the walls all the pluming gone. They would even rip the alminum siding off the outside of the house. If the carpet was newer in the house they would take that also. Water heaters , Hvac units , condenser units , lights ,faucets , toilets , any thing that they could use tubs and shower units included. Houses were completely stripped.... Should have been torn down but the landlords were greedy and kept putting tenants in them and going through the vicious cycle. In Georgia I havent seen it much in the area I'm working in but I've heard some of the same stories from the Jasper area and other secluded areas .

09/23/2008 09:31 AM

by Captain Starfish

Leave a response…

Name:

Notify me of new comments:

Comment:

What does the graphic say?