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Wednesday, October 29, 2008

They even took the kitchen sink!

I guess I should be used to it by now. As a real estate agent working with short sales and foreclosures in the Viera and Rockledge area of Florida I frequently observe properties where the owner has stripped the house before moving out.

I guess maybe there is a market for used appliances. It is unfortunate that some folks are losing their homes. Some of these are investor owned properties, I am sure.

What drives a person to take the appliances? They were purchased, more than likely, by the the mortgage the lender provided in good faith.

I have witnessed properties that have had the garage door opener, air conditioner, lighting fixtures, vanities and whatever you can think of, removed. In the end this impacts the selling price.

And the reduced selling prices impact the market value of neighboring properties indirectly as the sales prices are reflected in later appraisals in the neighborhood. Hopefully, at some point, the market will return to normal.

In the interim, the prices reflect opportunities for buyers of short sales and foreclosures!

Gary Waters, Century 21 Baytree Realty, Rockledge Florida.

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