Bank-owned foreclosures represent high percentage of sales in some areas.

[Nick Gromicko]

According to a report from RealtyTrac, 53% of all the homes sold in Nevada are in some stage of foreclosure. Foreclosures represent 45% of sales in California and Arizona, and 28% of all existing home sales during the first three months of 2011. Also, these homes are selling at steep discounts, especially so-called REOs, bank-owned homes that have been taken in foreclosure. In New York State, the discount for REOs was 53% during the first quarter. And it was nearly 50% in Illinois, Ohio, and Wisconsin.

[Bob Elliott]

Try 57% in Chicago area.
Agents tell them Inspections are not needed and a waste of money because they are as is.

May not be coincidence that is close to how many % wise did not renew their Licenses.

[James L. Keilson]

Yopu just inspired me to write a quick blog post http://marylandhomeinspectionservices.com/blog/?p=182

Jim

[Bob Elliott]

Originally Posted by jkeilson

Yopu just inspired me to write a quick blog post http://marylandhomeinspectionservices.com/blog/?p=182

Jim

Glad to see a post about it however you mention wanting to know the costs involved.

That is precisely why Agents are simply telling them to bring in contractors for estimates.

Are you giving price estimates?

[James L. Keilson]

Originally Posted by belliott

Glad to see a post about it however you mention wanting to know the costs involved.

That is precisely why Agents are simply telling them to bring in contractors for estimates.

Are you giving price estimates?

Ahhh good point Bob, to answer your question No I do not (as a rule of thumb) give estimates as there is no way I could ever be that precise in every different component of the structure, nor would I want to be on the hook for being wrong. I won't lie I do sometimes give my "Educated Guestimate" along with the recommendation for further evaluation by a Licensed/Qualified "expert".in whatever field the deficiency is in.

I am going to make a klittle correction on my blog right now.

Jim