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Today I had a (very) brief chat with Channel 12 News about the Phoenix foreclosure market.
Clicking the photo to the right will open video in a new window (sorry, I tried to embed it, but could not get the annoying auto-play feature to cease and desist).
In the segment I referenced “trashed foreclosures”. If you’ve never seen one, take a peek at this:
[…] local friend and Broker, Jay Thompson hit’s it on the head with investors coming to the valley and buying up foreclosures! The […]
[…] and they will tell you they have seen their share of trashed out foreclosure properties. Here’s a sample video of one in the Agritopia subdivision. Yes, it is illegal to wreck a home, but that doesn’t stop a lot of people from doing it.On […]
[…] Trashed Foreclosure Video Example New Twist on Trashed Foreclosed Homes […]
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Love the .tv story! So interesting for those of us who only hear horror stories of the damage done to foreclosed homes.
**Amy Sellers´s last blog post..Death Is All Around Us</abbr></abbr>
Great stuff, as usual, Jay. I'm glad some of the banks are starting to prosecute for the vandalism done to some of these properties. It hurts my heart to see once beautiful homes completely trashed.
Care to hazard an opinion on when we might see the number of REO listings return to a more "normal" % of the total number of properties for sale?
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A surprisingly objective report from the mainstream media…I find it amusing that even in a fairly straightforward story like this one they can’t help but bring up another real estate scam. Thank goodness we have these crusading journalists who seem to always have the public’s best interest in mind.
**Marty Boardman´s last blog post..The Key to Real Estate Recovery: Affordability</abbr></abbr>
That home of the video that you did was a complete mess. I can't believe that someone would take out the kitchen counters and the ceiling fan. I'm suprised that they didn't rip out all of the wiring and piping for scrap metal. Congrats on the TV spot! It's always good advertisement appearing on the evening news.
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So essentially what you are saying is that the only difference between real estate in Phoenix and Ohio is that it's 80 in January. It's almost like our media is in denial of the condition of these homes and just how torn up they really are.
Oh goodness, that is so sad to see the home ripped apart like that! My husband's job might have us transferred to Phoenix, so I found your blog and site when I started searching. Thanks for the insight to foreclosures; we will be keeping that in mind if we start house hunting there.
Nice clip. Did they track you down to interview you? Or was it just something that fell together?
I have definitely been in some foreclosures in Atlanta that look like the subject property in your "trashed" video. It's so sad to see a once beautiful home get destroyed like that. It's non-sensical to me. I absolutely believe banks should prosecute the sellers who leave homes in such un-liveable condition. It would make people think twice about ripping out cabinets and counters…
I also thought it was very interesting to hear that Pheonix has a less than 30-day supply of foreclosures…that's great! Foreclosures are what's turning here too.
I loved your .tv video. Its incredible to see a home that trashed. That's a nice tie in to the news story and amazing to hear the less than one month inventory, but of course on something so lucrative got to be careful of scammers.
Dallas Highrises, Condos & Lofts
We are down at the courthouse steps on a daily basis so our inspectors are out early in the morning looking at as many homes as possible. We have seen some left in perfect condition and others with everything including the kitchen sink missing.
**Brewer Caldwell´s last blog post..Brewer Caldwell is the BEST</abbr></abbr>
It simply amazes me that people do this – it's not bad enough they stop making payments, foreclosure and hurt their neighbors value but then they steal and trash the home – further reducing the value. It's just not right and these people should go right to jail – better yet -Never own a home again.
**Cindy Knight´s last blog post..Will the Housing Bubble Burst Bankrupt Your City or State?</abbr></abbr>
That is sad. I don't know if it is criminal or no to do that as long as the owner is the legal owner, but is sure is not right.
Maybe that big hole in the ceiling was where they took down the furnace.
I have see a couple where the plumbing, doors and window were also gone. As well as great big holes in the walls.
Sad folks are so destructive, but then someone other than the owner could have helped themselves to the property as well.