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Shock and Awe!

By
Mortgage and Lending with Mortgage Processing Solutions NMLS #86995/69352 & 5450

Over the past few weeks I have been out looking at homes for sale for my little sister.  Because of the price range she qualifies for, we have been looking at REO properties.  I have to admit the first time we went out we definitely experienced what one might call "foreclosure shock".  Prior to this, I was of the mindset that a foreclosure property was just a nice home at a really good deal.  Boy was I mistaken!  I was astonished at the lack of self dignity and self respect that some people uphold.  I was amazed at the amount of damage that was incurred to what was once a seemingly nice home.  I was in awe that the sellers didn't bother to even remove all of their personal belongings and garbage let alone clean the home.  I personally could not imagine doing this to a home, foreclosure or no.  When it comes down to it, is it not the bank's fault you were not able to make your payment!

When we set out again this past weekend, we thought we were more prepared for what we could expect to see.  We were sadly mistaken.  As I sit here now writing this, I am still in shock of what we saw.  I had my reservations regarding this home in the first place due to the location.  We were doing our best to keep an open mind, so we decided to just take a look hoping to be pleasantly surprised.  Surprised we were, but it was most definitely not pleasant!

I am not sure what astounded me the most, the condition of the home; the fact that our Realtor proceeded with showing the home to us; or the fact that the Listing Agent actually had it listed and open for viewing in that shape.  Is this really the commonly accepted process?

The listing read "There is much clutter (and odor) from previous tenant, ......Some personal items will be removed prior to closing".  This was a gross understatement.  What it should have said is ‘There is a massive amount of junk that you will have to wade through.  Enter at your own risk.'  The odor was what one would call dangerous to your health and we honestly had to cover out noses to avoid breathing the toxic air.  Among the rubble, garbage, clothing, etc. we found brand new merchandise including a large screen Plasma TV.  Clearly the tenants of the home were involved in some illegal actions.   It was heartbreaking to walk through the rooms and find evidence that small children had lived here with the people that had vacated the house. I wonder what their poor lives must be like now as they are living with parents with very little conscience.

We cautiously continued through the immense disarray with a warning from our realtor to beware of the live mice, as one had just scurried past his feet.   YIKES!      After viewing the upstairs I was certain I had seen more than enough and waited outside for the others as they continued the tour downstairs.  To my dismay, I was yet again taken aback when they returned with reports of a pistol and an axe just lying on the floor waiting for an unsuspecting victim.  This might just be the most astonishing part of all.  This is beyond my comprehension!  Where is the listing agent's sense of responsibility?!  How does he/she sleep at night with that kind of professional and personal liability looming over he/she?

People once again, never cease to amaze me.

 

Debbie Malone
Londeree's Real Estate & Property Management - Lynchburg, VA
From Lynchburg To The Lake (434) 546-0369

Okay, the mice would have had me running! I've got several foreclosure listings, one where the previous owner took all of the light fixtures in the main level. We've bought so many HUD foreclosures and it is a shame to see what folks will do to a home when they know they're going to lose it. Hope you sister has some luck and finds a great new home.

 

Feb 06, 2009 09:00 AM
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

As a previous house flipper I bought a lot of REO'S and I have seen some unbelievable things in homes.  It is truly sad the way some people live and especially when there are children involved.  Oh, and don't forget the wonderful smells!!  LOL

Jared Christiansen your Fort Wayne Realtor

http://www.FortWayneHomes4Sale.com

Feb 06, 2009 09:02 AM
Jessica Wallace
Coldwell Banker - Santa Cruz - Santa Cruz, CA
Santa Cruz Realtor (831) 419-9345

Welcome to the wonderful world of REO's!  There are some great bargains to be sure but many need work, varying degrees.  I like to preview the homes I am going to show to my buyers.  If it is in terrible condition and I know they can't handle that then we cross that one off.  I have seen many REO's in decent shape but some are truly attrocious.

Feb 06, 2009 09:04 AM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Just wait til Spring - when the grass is 3 feet tall and the rear door is hanging off the hinges.  Not exactly what you or I would call ready for showing.

Feb 06, 2009 09:15 AM
Marie Ogle
Mortgage Processing Solutions - Spokane, WA
Contract Mortgage Processor

Debbie, I kind of got the giggles later because I could tell the Realtor was doing everything in his power to stay professional and not run screeching :)  Thanks I think we may have just found one which is great for them.  Close to me too!

Jared, oh the smells.  I thought the musty moldy odor what bad but this particular house was unbearable.

Jessica, that is a great idea.  More work for you but I am sure your customers appreciate it.  I know we would have.  Although this particular experience changed me.  I joked that I needed to bring my son back and show him what will happen if he doesn't start reading and get good grades.  (sometimes we parents must resort to scare tactics)

Ryan, thanks for stopping by.  I don't know that any of the homes were necessarily what I would call ready for showing but this one was a doosie.

 

Feb 06, 2009 09:53 AM
Kelly Young
The Platinum Group Realtors - Colorado Springs, CO
Colorado Springs Real Estate ~ 719-226-0126

Margie, you are not alone in that it is unbelievable sometimes to really find out how someone has lived and not knowing what the story that goes with the "results" is.  Good luck with the home search for your sister.

Feb 06, 2009 10:15 AM
Libby Cousins
Extraordinary Processing - Spokane, WA
Contract Mortgage Processor, licensed in WA

I guess "pride of ownership" goes out the window for many people when they lose their house. I still can't imagine leaving a house in that condition- ever. It sounds like the Realtor didn't pre-screen the house at all. Wonder what happened to the axe and pistol. I hope he didn't leave them there...

Feb 07, 2009 04:32 PM
Marie Ogle
Mortgage Processing Solutions - Spokane, WA
Contract Mortgage Processor

Kelly, I am not sure what shocked me the most; the fact that people live that way or that the agent actually is showing it that way.  I think if I were an agent I would lose sleep knowing people were viewing it in that condition.  It's a good thing I'm not because I love my sleep :)

Libby, me either.  I am a little surprised the agent didn't pre-screen it as well.  I think it is time for a new agent.  Yes he did leave it there after he picked it up and gave it the once over.  Can you believe that!  We told him he better wipe his prints off....!

Feb 09, 2009 02:48 PM