REBLOG OF RICHARD WEISSER: A plea to HUD and REO sellers: Turn up the HEAT!
Richard has a great point.
I previewed a Fannie Foreclosure recently. My tax dollars at work.
No heat.
Rainy chilly day.
The home had been warm from the day before, and with the cold rain, the windows had enough condensation on them that rivulets of water were running down them.
I like the floor plan.
Great location in an excellent Cary neighborhood.
Tax Value (Tax Overvalue) of about $262,000
Neighborhood sales say it should go for about $210,000--$220,000 in current condition.
Priced at $194,000 and just sitting there. Deteriorating further daily.
TURN ON THE DOGGONE HEAT!
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There is nothing worse when showing property than to have the interior of the house is colder than the exterior ambient temperature. Prospective buyers rush through and try to see what they can in the darkness and head straight for the warmth of the car.
What did the buyers actually see during their two minute visit? Usually not much and it is very difficult to make a purchase decision without a thorough examination of the property.
And even though the plumbing is winterized, extreme cold can cause cracks in the drywall and other damage that occurs due to excessive expansion and contraction.
Not to mention the fact that the inspection process is often hindered because the actual activation of all utilities may not coincide with the contractual timeline limitations of the inspection contingency.
I honestly believe that if all of the utilities were left on for the duration of the listing that the house would command a higher price that would cover all of the additional expenses PLUS an additional profit.
The house would also sell quicker because the buyers would be able to determine suitability for purchase in a much shorter period of time.
There are times when you can lose a lot of money by being cheap!
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