Special offer

BofA REO............ Oh, the smell........................

By
Real Estate Agent with HomeSmart Realty West CalBRE #01458572

http://www.missionvalleycondos.infoBofA REO............
Oh, the smell........................

I went to preview some properties today, one of which was advertised as an REO by Bank of America.

Wasn't really sure I wanted to go there, but the location and price are right for my Clients.

When I got there, the lawn and bushes were manicured, the outside had been painted, and it looked like there was a new front door.

Not too suprising about the lawn and bushes because many cities here now require that foreclosures be kept in good condition, at least from the exterior, in order not to bring blight and decreased property values to the neighborhood.

With trepidation, I opened the front door. The smell was....

....

....

....

refreshing!

They had installed new carpet throughout the house except in the kitchen and the two bathrooms, where they had installed tile.

There were new toilets, new stove, new microwave, new dishwasher.

Is this a result of global warming? East coast earthquakes? New York hurricanes?

What is the world coming to?  

♪♫ I play thet piano to relax ♫♪

Recent blog posts:

  1. San Diego Mission Valley condos for sale — Friars Mission (August 29, 2011)
  2. San Diego Mission Valley condos for sale — Friars Pointe (August 28, 2011)
  3. Sign right here and we'll get started! Use my pen....
  4. Did you know? — San Diego Hurricane
  5. San Diego Mission Valley condos for sale — Mission Ridge (August 28, 2011)
  6. Out & About San Diego — Largest fireworks show in San Diego set for September 17, 2011
  7. San Diego Mission Valley condos for sale — Mission Plaza (August 25, 2011)
  8. Is real estate a good investment?
  9. Real estate news — Foreclosures and Notices of Default continue to decrease
  10. San Diego Mission Valley condos for sale — Mission Playmor (August 22, 2011)
  11. Out & About San Diego — San Diego Festival of Sail, September 2-5, 2011
  12. Out & About San Diego — 30th Annual San Diego Quilt Show, September 7-10, 2011
  13. Out & About San Diego — ACS San Diego Home, Hot Tub & Landscape Show, August 26-28, 2011
  14. The Governor cancelled my short sale!
  15. San Diego Mission Valley condos for sale — Rancho Mission Vilas (August 18, 2011)
  16. San Diego Mission Valley condos for sale — The Villas at Escala (August 17, 2001)
  17. San Diego Mission Valley condos for sale — The Verandas at Escala (August 17, 2001)
  18. San Diego Mission Valley condos for sale — The Terraces at Escala (August 16, 2001)
  19. Are we sure the real estate market and the economy are stagnant?
  20. San Diego Mission Valley condos for sale — The Courtyards at Escala (August 16, 2011)

Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Jim, it seems that the banks are finAlly catching onto the fact that people don't want to buy dumps at any price!

Aug 30, 2011 03:06 PM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Jim, It does seem the lenders finally got it ... when it comes to MONEY they are on board.  The fact is ... the lenders NET more by investing in fixing ... and it opens the door for more buyers.  Refreshing indeed!

Aug 30, 2011 03:19 PM
The Scott Loper Team Bux-Mont Premier Properties
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi Jim,

I still think that Bank of America stinks.  They are so greedy and difficult.  But yes, they are finally getting a clue that properties are not going to sell without some effort/cost involved.

Lisa

Aug 30, 2011 03:24 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Jim what a pleasant surprise.   It would be nice if this is the practice going forward :)

Aug 30, 2011 04:02 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jim.

Wow, that is wonderful.  On our way to one of our favorite markets, there is an REO with broken and boarded up windows, a yard that is mostly weeds, and an overall dejected look in between two houses that look like their owners care.  The agent has his sign there, and the bank has not done anything, I wish I could send your blog to the bank...A

Aug 30, 2011 05:47 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Ji;m, of course you caught me on the title...i'm finding many bank properties this is being done at lately...very refreshing!

Aug 31, 2011 12:37 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Jim, We haven't seen any like the one you described, but it would be beneficial if this was a new trend with the banks!

Aug 31, 2011 12:44 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I'm seeing the same things happening with our Northern Virginia REOs.  It's a nice change from the dumps we used to walk into.

Aug 31, 2011 04:36 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Jim, I would call this being motivated to sell!

Aug 31, 2011 06:19 AM
Carl Winters
Canyon Lake, TX

I have a condo inspection scheduled for Saturday morning, hope it will be good condition. Never know what surprises are beyoind the Front Door. In this case it was a nice surprise but that doesn't always happen.

Aug 31, 2011 02:58 PM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Thanks to everyone for stopping by and commenting. I appreciate your time.

I’ll read through all the comments to see if any of them need a specific response. If so, I’ll respond below this comment. Otherwise, since I like to return comment for comment, I'll be by your blogs soon to do a little reading and commenting. I find that a better way to acknowledge you stopping by and commenting on my blog.

Sep 06, 2011 02:57 PM