Today we venture out to a foreclosure property in Agritopia, a lovely subdivision in Gilbert, AZ.
Many foreclosure properties are in poor shape. (Though some are pristine — you have to be careful!).
This particular property is listed for $349,000. Comparable properties are in the $400 - $450K range. A buyer has to decide if they have the funds, time and patience to return a home like this to its former self.
And good luck getting a loan.
I don’t understand the thought process in gutting a home before you leave. I understand that foreclosure is an emotional event, but what was done to this home amounts to grand larceny in my opinion. The previous owner had no right to removed the items they did.
{ 7 comments… read them below or add one }
Craziness. I have heard of banks coming back after the owner for trashing the house and making it unsellable. Thanks for the video, I have been meaning to take a look at that house myself. Do you know if that was the drug house they found in Agritopia? Maybe that explains some of it???
I have seen a lot of trashed foreclosures- but I think this one takes first- never seen the heater ripped out like that- this is one of my favorite communities- what a shame- I think the bank needs to lower the price- it will take a good 50k to repair.
Love that you’re doing this, and I think your blog is fantastic. I have no desire to move to Phoenix…especially after your birds are headed to the Super Bowl after beating up on MY birds last weekend ;-( but if I were, you’d absolutely be my real estate agent. Keep up the good work!
Holy. Cow. I had heard of trashed foreclosures…but that’s just disgusting. And I agree: find the owner and indict him on felony theft.
Jay,
I check your blog every other day and love it. I found you after I named mine when a friend of mine said our titles are the same. I represent New Jersey Real Estate Guys . My site is also a blog for internet SEO purposes and I am also applying TV to my site. I am pretty good with video editing and have started some films that aren’t up yet but looking forward to that angle to get a little more intimate with my audience. Good stuff, keep it up..By the way, this IS grand larceny. I have seen a ton of it in SW Florida where I have property. Builders and owners think they can pawn the stuff for cash or grow so emotionally connected that they don’t want the next owner to have their stuff! Grand Larceny is over 100k right? Looked like your place here was clearly in need of a ton of work.
Nice that the plantation shutters were left behind. Wish I could say that this was the worst I’ve seen.
I live in Buckeye Az (25622) West Pleasant Lane the neighbor stripped his entire home, taking the light fixtures, doors, all the kitchen cabinets, countertops, appliances, shutters, carpet and padding leaving bare flooring; basically taking everything that was possible to remove, taking the pool pumps and so forth. The owner is bragging about the stripping of the home.