Investor Is Out of Town... Roofer is Out to Lunch!

By
Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

 Funny how commenting on someone's post will get you started on a post of your own!

 Mike Jaquish in North Carolina posted on roof repairs, and I thought of this home I looked at last week.

According to one of the neighbors, the out-of-town listing agent told the owner that he would have to repair the roof before listing the home, even though he was selling it as is, since the roof must be intact for the home to be considered livable.

 I guess a little advice is better than none. LOL  The absentee owner/investor hired an out-of-town roofer, who did just what he was paid to do--re-flash and re-coat the roof! 

Hey!  They didn't ask him to replace the brick!

The listing proudly announces "brick home."  Of course, the roof will have to come off to repair the brick...  And it's going to be sort of difficult to get a bank to part with a loan on something like this.

You know what they say about the Arizona sun... "But it's a dry heat..." 

The silver lining to the credit crunch cloud is that it is weeding out investors that never were.  And that's the real estate opinion of this Tucson, Arizona mortgage lender.

 Mike in Tucson

Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona

Comments (9)

Cheryl Johnson
Highland Park, CA

"When life hands you lemons...."  This could be marketed as Distressed Brick.  Sounds very trendy/arty that way.  <s>

Oct 21, 2007 01:06 AM
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

I love it, Cheryl!  LOL

Mike in Tucson

Oct 21, 2007 01:27 AM
Dan Forbes
Bradenton, FL
Hey, you get what you pay for.  Maybe calling it Aged Brick would help.  Like aged beef, it sounds better.
Oct 21, 2007 02:57 AM
Gaylen Thornton
Desert Heritage Real Estate - Surprise, AZ
It is amazing what some so called professionals are up to in this market. The old adage is certainly true, you get what you pay for. So many people just want the cheapest price and then wonder why they end up in a mess.
Oct 21, 2007 03:01 AM
Candy Henthorne
Results Realty - Spring, TX
Spring Texas Real Estate
Mike - I find it always best to use a reputable and local roofer with good references.  Just common sense.
Oct 21, 2007 07:01 AM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Maybe it can be said that the brick just adds character, you know that old world flair!
Oct 21, 2007 11:57 AM
Billnulls Blog Florida Realty Professional
Charles Rutenberg Realty - Clearwater, FL
AHWD
and that is not a bad thing - they need to be weeded out!
Oct 21, 2007 01:51 PM
Marlene Bridges
Village Real Estate Services, Inc. - Laguna Hills, CA
Laguna Homes|Laguna Condos|Laguna Real Estate

That missing brick is where you can place secret messages to be picked up by carrier pigeons.  Or, it could be a welcome home for a swallow's nest.  Yah, that's the ticket...the missing brick is for the birds!

Funny post.

Oct 21, 2007 03:58 PM
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Whoa!  Stay away for a day, and I have catching up to do!

Dan, how about "weathered brick..." LOL

 Gaylen, I'm thinking the roofer showed up, assessed the situation, and figured "it's not my job to tell him/her about the missing brick."

Candy, I'm pretty sure that part of the roofer's thinking went like this: "I've come all this way, and I'll have to make a second trip if I call the owner.  I'm not wasting MY time!  (Not MY job!)

Donna, thanks for commenting.  I think the people involved were all "characters!"

Bill & Barbara Jo, you're right!  The "would-be investors" aren't a benefit to our industry.

Marlene, you're on the money!  There WERE barn swallows nesting in the garage!

Mike in Tucson

Oct 22, 2007 12:53 AM