Everywhere you turn these days it seems the topic of conversation always turns to Real Estate and the high number of foreclosed properties coming on the market and most people are concerned about the value of their home and the neighborhood they live in. Every time I list a Bank Owned Property (REO) the neighbors always ask about the home as to it's condition, what is the price and am I going to do anything about the lawn as it looks terrible. My response is I will do everything possible to get the property cleaned up as quickly as I can.
This past week my partner and I received 6 REO listings in Murrieta Ca. so the work began to get the properties ready for market and one of the first things to be done after the re-keying of the home is to post notices that the property is Real Estate Owned (REO) along with the no trespassing notice. We then get our vendors out to give bids for repairs, lawn clean up and trash out of the junk normally left behind by the previous owner or tenant.
The neighbors usually seem happy at this point as they see activity at the home that has become the eyesore of the neighborhood but then a very peculiar thing begins to take place in the middle of the night and when the morning sun rises on the REO property of the neighborhood it exposes the junk and trash that the neighbors have dumped in the middle of the night. Vampires of trash?
There is not a neighborhood immune from this phenomenon as it happened again this past week to one of my listings and this time the property was located in a gated community in Murrieta so the extra expense amounted to $225 that I will pay for and then wait 45 to 60 days to be reimbursed.
All of us as homeowners are in this market together, as there are very few areas of the nation that doesn't have a high number of foreclosed properties, so please stop and think before you become a Vampire of trash in the middle of the night.
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