Another freezing gripe!

By
Real Estate Agent with Stone Mountain Realty and Building Co.

The banks don't want to heat these large homes, they don't want the power on, instead they will just keep dropping the price until it sells.  That's what the agent said.  I showed a property, it was freezing out, my client couldn't stop shaking as we walked in the door.  We proceeded to go downstairs after viewing the upstairs, no power, complete darkness, no flashlight in the house. Got to get one that I keep on my keychain so it is with me at all times!!! At least keep the power on, heat turned down, winterize the house...............Price of that house $799,900.  

It wasn't long ago, I sold a foreclosure that had been winterized and when we did the home inspection , there were multiple leaks throughout the home.  Needless to say, we did close but the seller took a lot less than if that didn't happen and still had to repair all leaks.  Same price range.

I just wonder, is it less expensive to fix the leaks and lower the price than keep the house above the freezing point.

 

 

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Realtors®
Posts to Localism
Tags:
foreclosures
selling a home
real estate
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Rainmaker
608,391
Jeana Cowie
RE/MAX Real Estate Limited - Paramus, NJ
Broker Associate, ABR, CRS, GRI, SRES

Cheri, We have to really bundle up when showing these homes. Frustrating to say the very least.

Jan 28, 2011 01:06 AM #1
Rainmaker
777,030
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Could never understand the logic in keeping an empty property with no heat, Penny wise pound foolish

Jan 28, 2011 01:06 AM #2
Rainmaker
1,146,048
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

I think they would make out better fixing them but they rarely do this.

Jan 28, 2011 01:08 AM #3
Rainmaker
925,799
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Cheri, I have worked on a number of these properties in the winter doing trashouts.  Cold enough INSIDE to see your breath.  It seems almost colder inside than out, and sometimes it is!

Jan 28, 2011 01:08 AM #4
Rainmaker
183,995
Laura Gray
RE/MAX Realty Group - Gaithersburg, MD

Cheri

Listing Agents have to have very deep pockets to kepp the utilities turned on. It is not always the banks decision. In some of our local municipalities they do not allow us to put the utilities in our name , so we can't get the heat and/or water turned on. It would be nice if evryone could get on the same page to reduce the current inventory

Jan 28, 2011 01:12 AM #5
Rainmaker
1,949,187
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

All the houses in areas struck with FSSR related sales being heated, utilities on is a staggering amount. It is better business to drop the price, get rid of the home and let the buyer get the place operating, back on board. Shift the burden is way way better business when you don't just think of your few sales but the bigger picture. (* foreclosure, short sale, repossession)

Jan 28, 2011 01:12 AM #6
Rainer
35,189
Valarie Kubacki
Prime Real Estate - Valparaiso, IN
Broker Associate, CDPE - 5Star

So as I read this I am sitting outside of a house in my car waiting for the power company to come turn on the power in my name because I want the home to sell.  If it doesn't sell then I guess I took a bad risk.  Do I have ones that I won't turn the power on yes because of either the condition of them or the price we have to put them at. By the way this is a short sale that the owners moved out of when they got the foreclosure notice and moved in with relatives.

Jan 28, 2011 01:13 AM #7
Rainmaker
553,408
Gwen Fowler-CRS- 864-638-3599 SC Mountains & Lakes--
Gwen Fowler Real Estate, Inc - Salem, SC
Gwen Fowler Real Estate, Inc.

The savings is immediate as they don't have the monthly bills.  With some of our houses on the market over 1000 days it is getting redeculus.  The more comfortable someone is while at the property, the longer they stay, the more likely you are to get an offer.  Power and water should be left on.  Heat and air at a comfortable level.  Not too much to ask to get me to show.

Jan 28, 2011 01:14 AM #8
Ambassador
517,852
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

Most of the foreclosed homes in my area are winterized but have the electricity on.  The heat may be turned off at the furnace but at least you can see.  Of course, all don't have electricity on so I never count on it.  If a client asks to see after dark I usually call the listing agent first to see if electricity is on.  If not I suggest to the client to reschedule at a time when we can view the home in daylight.  You can miss too many defects in these homes by flashlight.

Jan 28, 2011 01:36 AM #9
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Rainmaker
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Cheri Swigart

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