On our website, we occasionally feature a “Deal of the Week” listing. A simple search using our Deal Finder Parameters is all that is required to summon up a slew of something is not right properties. Of course within this group of listings we are hoping for a gem or 2 along the way. However more often than not, the below market pricing is not nearly low enough given what we eventually find upon a visit to the home.
Now don’t get me wrong, we have had some success featuring listings on our blog that we feel are priced well, or are Huntsville Foreclosures. One recent sign of success was a phone call I received from a reader who wanted to see this particular featured Deal of the Week. This home is a Bank owned property and I felt (before seeing it) priced well. Imagine my surprise when I pulled up to find trash all over the yard and greeting us by the front door.
Either the bank doesn’t want to spend $500 – $1000 to have the trash hauled off, or they have no idea the condition of the property they now own. I”m going to “assume” the bank won’t cough up to have it cleaned. Surely a listing agent wouldn’t take this listing on and not suggest the MUCH needed improvements? After pulling in the driveway, I was turned off, completely. Trash greeted us in the driveway, up the walk and onto the front porch. Not just a “bit of trash” but a truckload, to say the least. Several truckloads.
Upon entering, the shock factor continued. What a pig sty. The $4,000 professional stove/oven was FILTHY…the $1000 dishwasher had SO much gross grime, grease and dirt. I opened the pantry door and it was G R O S S. Obviously, this home has been neglected far too long.
I have flipped property for years now. I’ve bought much worse than this, but you can bet I made it worth my while, when making low ball offers to purchase in the past. Had this home been cleaned up, I really feel a potential buyer would step up….the home is priced well, IF it were clean.
As it sits, I wouldn’t offer anywhere near what they are asking. Funny, coming from a Realtor. Perception is reality! Can you imagine what a potential buyer would feel? I know how my buyers felt, and I had to agree. We were knocking THOUSANDS off, just to ease the pain of the filth that surrounded us! Does the bank REALLY not care to get it’s investment back, or does the listing agent really not care if he/she never earns a dime? Either way, someone is missing the boat here.
What a shame….what a shame …because a lot of this is easily remedied.