Sunday, November 04, 2007

A Couple Swings Of The Axe On The Way Out

Slightly amusing, though even in the absence of deliberate damage simply leaving a place - yard, pool, etc... - unattended for even a realtively short amount of time can degrade a property pretty fast. A few like that on the block and pretty soon it... looks like my neighorhood only suburban.

As many as 25 percent of Las Vegas' bank-foreclosed homes suffer intentional damage, according to an informal R-J survey of valley appraisers and real estate agents. According to Thomas Blanchard, owner/broker of First Realty Group, this damage -- most of which is inflicted in the four to 12 months between the notice of default and the constable's knock at the door -- typically requires $3,000 to $10,000 to repair. However, it can approach or exceed 10 percent of a home's total value.

(via CR)