Sunday, January 10, 2010

Saw a Short Sale Today

Saw a short sale home today. It was this house. This was considered a short sale. This is a red flag for banks and people everywhere because if this is a short sale and not a foreclosure, then we have major problems now and in the future. The photos at the website are fantastic and show the potential of this house. The reality is a sad showing of what the home has become. No one had lived in the home since at least September. The water had been shut off in October. How was this not deemed a foreclosure? I don't know. Here are the highlights...

1. There is a piano still left in the home. Great if you play. Horrible to see alone in the living room.
2. The fridge is dingy and has not been cleaned in months. Gross.
3. Collectibles and junk are in the middle of the breakfast nook; luggage as well.
4. Upstairs has a bedroom with no flooring. Nothing.
5. Bathroom cabinet doors are missing as are fixtures.
6. The family left behind photos, yearbooks and personal items. WHY????? This is your life and your past. They left them in the middle of the master bedroom and upstairs hallway.
7. The doorframe for a bedroom looks completely busted.
8. They took down a small fence and just left it rolled up in the backyard.

and the worst...

9. The garage is full of stuff. They have a crib in the garage. There are bikes, furniture, and countless 'things' in the garage.

This home could be great. The problem is that the bank is lazy, the homeowner was lazy, and the bank will just say no to any demands a potential buyer will ask for clean up so they can pretend this home is still worth more than it is now so their old loans do not look bad (unrealized vs. realized losses). This home has been owner by the same family for over a decade. The family probably refinanced up the wazoo and now they are upside down. This is not the first, nor is it the last example of bad behavior by homeowners and banks. This is just one more reason why we are in our current state.

1 comment:

"AG" said...

I saw a short sale house where the kitchen trash was "disposed of" in the garage by the family- for YEARS!!!!

What you describe is typical.