I'm sure that we all have seen the news that home values are down do to the foreclosure's flooding the market. I don't understand why homes that are not even live-able are grouped in with home that are in (good condition). this is a big problem! If I am going to buy a house I am probably not going to buy a bank owed property and here is why.
1. The home is AS IS......
2. 99% of the ones I have seen are not live-able.
3. It will lower the value of the neighborhood unless it is flipped or fixed.
4. For a home owner I can not include fix up cost in most mortgages. (An out of pocket expense)
5. If the home is in a HOA I am required to fix the yard and or the out side of the home with in a short amount of time. (An out of pocket expense)
6. Most have issues that the normal buy will not want to take on. ( Mold, Drugs, rot, water damage, ect......)
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