What are these Banks doing now? Foreclosures “looking” worse in the Neighborhoods
One of our companies has a division that works in the foreclosure or “REO” arena as they like to call it these days. They take care of securing the vacated properties, rehabbing them and maintaining them until sold.
However these days the banks just can’t seem to keep up and they don’t seem to care at all anymore. Last year we (full) rehabbed about 40+ homes.
Everyone sold within a week or so as almost new.
This year very few complete rehabs, just little fix-up’s and even the exterior maintenance is lacking as everyone can see when they drive throughout neighborhoods everywhere. Grass 3 feet tall, mold everywhere etc etc, simply making our neighborhoods ugly.