So I was showing homes on Monday in the lowest price range of Santa Maria, which is below $250,000. My client and I looked at 14 homes (all of them either bank owned or short sales) and every one of them had some serious deferred maintenance. And the majority of them had extra rooms built into the garage for additional people to live. Almost all of them has poor remodeling or uncraftsmenlike upgrades(downgrades) done to it.
It wasn't the most exciting day of showing homes.
The worst one was a bank owned home in the Westgate area off of Bettaravia (a nice, newer subdivision). The garage had two shoddy built rooms inside of it and the walls were made out of pallets. The sad thing is that the home was once quite nice and still had potential, but the rooms in the garage were so creepy, like it was a cult house, that my client got the creeps and didn't want to consider it.
A lot of people think that short sales or foreclosures are great deals, even steals. But when a person does the maintenance to fix everything that was deferred, you may as well purchase a home from someone who has been able to make the payments, and upkeep the home.
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