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Finally, a GOOD LOOKING bank owned property!

By
Real Estate Agent with Ellicott City Clarksville Howard County Maryland Real Estate 535650

Maybe the banks have finally wised up? Maybe the tide has turned and "someone" has realized that just a little TLC will sell a house quicker and maintain the neighborhood too.

This morning I met with a client for our first day of looking at homes. On the list was a bank owned property. It was listed $60,000 less than what the previous owners had purchased it for in 2006.

I prepared my client for what we may find at the house. I warned her to bring her gloves and wear a warm coat. I had my flashlight in my pocket.

WHAT A PLEASANT SURPRISE. Surprise

Not only was the house freshly painted, but there was new carpet throughout. Not only was the power on, but the temperature inside the house was very pleasant.

It was clean and it even had 2 washers and 2 driers- although we could not figure out why!

We plan to meet in the morning to submit an offer.

How wonderful it would be if every bank owned property was this easy and delightful to show.

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Comments(7)

Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
HomeSmart Stars - Addison, TX
Real Service. Real Results. Real Estate

LOL!  I just had 2 calls last week from investors looking for "distressed" properties that they could buy and fix.  We don't have many for them to choose from!

Jan 02, 2009 06:00 AM
Stephen Butler
RE/MAX CENTRAL - Las Vegas - Las Vegas, NV

Here in the REO capital of the world, Las Vegas, I am finding the same thing.  If the listing agent recommends minor repairs and clean up such as paint and carpet, and they can convince the bank that it will increase the sales price by considerably more than what it will cost, they will go along with it.

Jan 02, 2009 06:02 AM
Diane Ocenasek
ReMax of Higgins Lake - Higgins Lake, MI

Nice to hear that someone cares about the presentation of a property when it is bank owned.  I hope this is a wave of the future but I am not holding my breath.  There are so many out there it feels daunting to some buyers unless they are very savvy!

Jan 02, 2009 06:02 AM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

Lorrie- that's a great problem to have

Stephen- It really does not take that much effort

Diane- Maybe 2009 WILL be a good year?

Jan 02, 2009 06:11 AM
Rich Mielke
REMAX Results, Frederick MD - Frederick, MD
REALTOR, Frederick Maryland Real Estate

Hi Ellie, I just previewed a foreclosure recently where the listing agent recommended to the bank that they re-carpet and repaint the interior. It makes all the difference if lenders would do it.

Jan 02, 2009 06:15 AM
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

It is so refreshing when you find a bank owned property in good shape.  They usually sell so much faster than some of the other garbage that's available.  Good luck to your buyer.

Jan 02, 2009 06:20 AM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

Rich- Maybe this will become more prevalent

Stacey-Ann- Refreshing is a great way to describe this, thanks.

Jan 02, 2009 06:27 AM