Realtor to Residents Who Remain in Neighborhoods with Forclosed Properties: Protect Vacant Homes from Looters and Vandals
May 10th, 2007Via: Real Estate Journal:
For those homeowners fearing that the “low-ballers” and banks trying to unload foreclosed homes will sap the value of their own properties, Kent suggested that residents could band together to watch out for a property.
“They could try forming a little neighborhood watch where people watch over that house to make sure there’s no vandalism, no squatters trying to move in, and to avoid people from stealing the fixtures of the home,” he said.
Banks will board up houses that are vandalized or that people break into, Kent said. Making sure that doesn’t happen can keep banks from dumping problem homes at fire-sale prices, he said.
Asking people to work for free to protect the realtors’ profits – there’s a solid business model. =)
If anyone starts asking for that kind of help in my neighborhood, I’m going to start making a lot of anonymous complaints to the bank until I can pick up the house at a fire-sale price. I bought a house I could afford and don’t have to worry about a short term decrease in comp prices. =)
We had people break in and vandalize the house next door to us when it sat unoccupied for months. They apparently threw some decent parties from the amount of trash left behind, but they were always very courteous and never made noise or anything to disturb us.