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(CBS New York)   Do you live next to or close to a "zombie house" that's bringing your home's value down? Don't try contacting the bank that now owns it, they've forgotten about them   (newyork.cbslocal.com) divider line 35
    More: Misc, David Babel, financial institutions  
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1566 clicks; posted to Business » on 25 Jul 2014 at 9:37 PM (22 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



35 Comments   (+0 »)
   
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2014-07-25 03:48:58 PM  
Yeah, we've got one up the street from where I live. A nice three story Victorian house that was part upscale restaurant and home to the owners until it caught fire, 26 years ago. They started repairs, but then stopped after a year and it has been an eye sore for a quarter of a century now. Every so often, the city of Des Moines starts condemnation proceedings and the owner goes all apeshiat and threatens to sue and the city backs off.It recently was sold on a quit claim deed and repairs restarted and then stopped. It seems it was "sold" to a family member in just another stalling strategy.
 
2014-07-25 04:11:42 PM  
Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.
 
2014-07-25 04:34:24 PM  

ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.


Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.
 
2014-07-25 04:47:47 PM  

TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.


Totally, but we're talking about New York, here. Roof maintenance is a big deal because New York has weather. Real, East-Coast weather. I remember helping my dad and grandfather nail together the 2x4 frames when we put the tin roof on our formerly flat-roofed house 30 years ago. We get snow and rain, but the tin is still on the roof and it doesn't rust through because this is Arizona. :) There are actually very few places in the world where you can put a roof up and forget it for a few decades.
 
2014-07-25 05:05:03 PM  
Sometimes a building catches fire and no one is around to see or report it.
Happens all the time.

*whistle*
 
2014-07-25 05:53:08 PM  

Honest Bender: Sometimes a building catches fire and no one is around to see or report it.
Happens all the time.

*whistle*


That's also the way we build new buildings in New Jersey.
 
2014-07-25 06:25:44 PM  
www.reviewjournal.com
 
2014-07-25 08:12:22 PM  
I'd move my ass back in then.
 
2014-07-25 09:22:38 PM  

ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.


Welcome to Detroit.
 
2014-07-25 09:54:23 PM  
1. Check your local laws
2. Move in. Rent your old house.
3. Get utilities, phones, etc. turned on
4. Use rental income to improve property save all receipts
5. When the bank finally comes to collect. get a lawyer. In most jurisdictions, you have a good argument to become the default owner. The bank will not fight as it will be processing thousands just like it in its backlog.

/Not a lawyer.
//For Entertainment purposes only.
 
2014-07-25 09:56:30 PM  

TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.


This, adverse possession time!
 
2014-07-25 09:57:05 PM  
I know a guy who stopped paying on a cheap house, in a cheap market, about 7 years ago.  He keeps up the taxes every year and nobody hassles him.
 
2014-07-25 09:58:36 PM  

Aulus: Yeah, we've got one up the street from where I live. A nice three story Victorian house that was part upscale restaurant and home to the owners until it caught fire, 26 years ago. They started repairs, but then stopped after a year and it has been an eye sore for a quarter of a century now. Every so often, the city of Des Moines starts condemnation proceedings and the owner goes all apeshiat and threatens to sue and the city backs off.It recently was sold on a quit claim deed and repairs restarted and then stopped. It seems it was "sold" to a family member in just another stalling strategy.


Salvage what interesting fixtures and hardware remain. It's all you can do if it's been sitting half-burnt this long.
 
2014-07-25 10:33:36 PM  

Aulus: Yeah, we've got one up the street from where I live. A nice three story Victorian house that was part upscale restaurant and home to the owners until it caught fire, 26 years ago. They started repairs, but then stopped after a year and it has been an eye sore for a quarter of a century now. Every so often, the city of Des Moines starts condemnation proceedings and the owner goes all apeshiat and threatens to sue and the city backs off.It recently was sold on a quit claim deed and repairs restarted and then stopped. It seems it was "sold" to a family member in just another stalling strategy.


Finish the job. Burn that farker down.
 
2014-07-25 10:38:03 PM  

ecmoRandomNumbers: TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.

Totally, but we're talking about New York, here. Roof maintenance is a big deal because New York has weather. Real, East-Coast weather. I remember helping my dad and grandfather nail together the 2x4 frames when we put the tin roof on our formerly flat-roofed house 30 years ago. We get snow and rain, but the tin is still on the roof and it doesn't rust through because this is Arizona. :) There are actually very few places in the world where you can put a roof up and forget it for a few decades.


I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.
 
2014-07-25 10:38:36 PM  
We have five or six around here. They've been sitting empty since before we moved in four years ago. Since this is Oregon, the roofs are covered with moss and rotting. The weird part is the lawns are being cared for in most cases.
 
2014-07-25 10:39:54 PM  

Flint Ironstag: ecmoRandomNumbers: TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.

Totally, but we're talking about New York, here. Roof maintenance is a big deal because New York has weather. Real, East-Coast weather. I remember helping my dad and grandfather nail together the 2x4 frames when we put the tin roof on our formerly flat-roofed house 30 years ago. We get snow and rain, but the tin is still on the roof and it doesn't rust through because this is Arizona. :) There are actually very few places in the world where you can put a roof up and forget it for a few decades.

I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.


Stupid Americans and their... roofs and stuff.
 
2014-07-25 11:00:02 PM  

Honest Bender: Sometimes a building catches fire and no one is around to see or report it.
Happens all the time.


l.wigflip.com
 
2014-07-25 11:13:28 PM  

Flint Ironstag: ecmoRandomNumbers: TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.

Totally, but we're talking about New York, here. Roof maintenance is a big deal because New York has weather. Real, East-Coast weather. I remember helping my dad and grandfather nail together the 2x4 frames when we put the tin roof on our formerly flat-roofed house 30 years ago. We get snow and rain, but the tin is still on the roof and it doesn't rust through because this is Arizona. :) There are actually very few places in the world where you can put a roof up and forget it for a few decades.

I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.


It really depends on where you live.  In more temperate climes roofs can last longer.  In the areas with extreme winters the snow and freezing cycles will diminish the lifespan, in the south the extreme sun will shorten the lifespan.

The materials do make a difference though.  In FL you can expect 15-20 years out of asphalt shingles if you're lucky, but if you go with clay tiles it can be 50 years.  They're selling metal roofs as good for a lifetime, and I know they've become more popular recently.  Depending on the cost when my asphalt tiles need replacement I may go that route, as it would also supposedly help reduce AC costs in the summer by reflecting more of the light/heat.
 
2014-07-26 12:22:42 AM  

natazha: We have five or six around here. They've been sitting empty since before we moved in four years ago. Since this is Oregon, the roofs are covered with moss and rotting. The weird part is the lawns are being cared for in most cases.


It takes 20 minutes to mow a lawn, tops, if you've got a crew. It's cheaper to hire a crew to do all your houses than lose a sale because the lawn was funky.
 
2014-07-26 12:38:04 AM  

natazha: We have five or six around here. They've been sitting empty since before we moved in four years ago. Since this is Oregon, the roofs are covered with moss and rotting. The weird part is the lawns are being cared for in most cases.


files.g4tv.com
 
2014-07-26 01:52:19 AM  
And... In more than a few markets if the bank owned inventory was actually put back on the market RE values, tax basis, etc would have deflationary pressure that nobody will be happy about. Applies to commercial as well. We're still in a bubble sheeple, just not as flagrant
 
2014-07-26 02:06:02 AM  

Flint Ironstag: House I grew up in was over two hundred years old and still had the original roof.


What magical material was this roof made out of? Stainless steel?

My last house was 160 years old and had an "original" roof, at least in that the frame and clapboard were original. The original tin was still there, too, but there were three layers of new tin and tar on top of it. And with a pitched tar roof, you have to resurface it every five years or so.
 
2014-07-26 04:58:29 AM  

Lsherm: Flint Ironstag: House I grew up in was over two hundred years old and still had the original roof.

What magical material was this roof made out of? Stainless steel?

My last house was 160 years old and had an "original" roof, at least in that the frame and clapboard were original. The original tin was still there, too, but there were three layers of new tin and tar on top of it. And with a pitched tar roof, you have to resurface it every five years or so.


Slate.

A good slate roof may need the odd slate to be put back in place every decade or two or after extreme weather but thats it, one person and a ladder.

The area i live in was built in the 60's and 70's and all have tile roofs and all have needed zero work done on them. Spend the money upfront or spend more later
 
2014-07-26 05:01:27 AM  
Flint Ironstag:

I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.


I call BULLSHIAT. The only possible place that was built 400 years ago was farking Jamestown. I call bullshiat on your 1814 house too. Original roof my ass.
 
2014-07-26 06:23:03 AM  

leohat: Flint Ironstag:

I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.

I call BULLSHIAT. The only possible place that was built 400 years ago was farking Jamestown. I call bullshiat on your 1814 house too. Original roof my ass.


Let's watch and see if leohat eventually realises that he's posting to the WORLD WIDE Web.
 
2014-07-26 06:23:36 AM  

leohat: Flint Ironstag:

I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.

I call BULLSHIAT. The only possible place that was built 400 years ago was farking Jamestown. I call bullshiat on your 1814 house too. Original roof my ass.


UK. Four hundred years old houses are fairly common here. Even houses built in the 1400s and 1500s are around. Two hundred years old homes are everywhere.
 
KIA
2014-07-26 08:01:25 AM  

Flint Ironstag: UK. Four hundred years old houses are fairly common here. Even houses built in the 1400s and 1500s are around. Two hundred years old homes are everywhere.


To be fair, slate roofs do tend to last a bit longer than "thatched" roofs.  (Does anyone in the US still use a thatched roof???)
 
2014-07-26 09:40:13 AM  

Prophet of Loss: 1. Check your local laws
2. Move in. Rent your old house.
3. Get utilities, phones, etc. turned on
4. Use rental income to improve property save all receipts
5. When the bank finally comes to collect. get a lawyer. In most jurisdictions, you have a good argument to become the default owner. The bank will not fight as it will be processing thousands just like it in its backlog.

/Not a lawyer.
//For Entertainment purposes only.


Detroit had an official program a couple decades ago under Dennis Archer.  It went like this:

1. Claim abandoned property.
2. Bring said property up to code.
3. Take residence for a period of time (I think 5 years)
4. Back taxes forgiven
5. Deed transferred.

Only problem was that people actually started to do this, sinking lots of money into improving these homes.  Archer left office and the new mayor welshed coming after these new "squatters" for back property taxes, sometimes tens of thousands of dollars worth.  The program died overnight.
 
2014-07-26 11:28:54 AM  

jst3p: TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.

This, adverse possession time!


This was my thought. If you can stand living in it long enough, line up your finances for the eventual repairs and as soon as it's yours, fix it up and flip it.
 
2014-07-26 12:25:46 PM  
you farkers wanting to burn down useful homes....   there has to be a better way
 
2014-07-26 02:36:16 PM  
Ah tax lien sales I love you so.
 
2014-07-26 09:45:02 PM  
There should be some program like Habitat for Humanity that can help fix these up and allow low income families in. But people would biatch about that plan, so fark it.
 
2014-07-26 10:52:07 PM  

ecmoRandomNumbers: TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.

Totally, but we're talking about New York, here. Roof maintenance is a big deal because New York has weather. Real, East-Coast weather. I remember helping my dad and grandfather nail together the 2x4 frames when we put the tin roof on our formerly flat-roofed house 30 years ago. We get snow and rain, but the tin is still on the roof and it doesn't rust through because this is Arizona. :) There are actually very few places in the world where you can put a roof up and forget it for a few decades.


In a lot of the developed world roofs are routinely built to last many decades. Asphalt shingle roofs that need replacing every 20 years or so are something I've only seen commonly in the US. In most of the UK, for example, roofs will normally either be terracotta or slate, and you'd be unlucky to have to do maintenance on them more than once every hundred years or so.
 
2014-07-26 11:02:12 PM  

Flint Ironstag: ecmoRandomNumbers: TuteTibiImperes: ecmoRandomNumbers: Nobody is going to want that home after it's been sitting for 3 to 5 years with zero maintenance. The prudent thing to do is invite the neigborhood over, loot the place for fixtures, and burn it down.

Depending on the condition of the roof beforehand and whether or not it was left exposed to the elements there may be nothing wrong with it that some light rehab can't solve.

If the windows have been broken, the roof compromised, or the inside otherwise exposed to the outside, it's obviously a very different story.

Totally, but we're talking about New York, here. Roof maintenance is a big deal because New York has weather. Real, East-Coast weather. I remember helping my dad and grandfather nail together the 2x4 frames when we put the tin roof on our formerly flat-roofed house 30 years ago. We get snow and rain, but the tin is still on the roof and it doesn't rust through because this is Arizona. :) There are actually very few places in the world where you can put a roof up and forget it for a few decades.

I'd say it's only because Americans use cheap materials that their roofs don't last. House I grew up in was over two hundred years old and still had the original roof. I have friends with houses twice that age with the original roof. My home was built forty years ago and has never had any maintenance done on the roof ever. Hell, even thatched roofs will last forty years.
But somehow Americans have been convinced a roof will need replacing every twenty years and there's nothing they can do about it.


Saw this after I posted, I see you've got it well covered.

The reason asphalt shingles are routine in the US is because the original builder will never see the financial benefit of a slate or terracotta roof. It costs several times as much up front, and so you'll be dead and buried long before the initial cost is recouped.

In the UK however, the cost was normally recouped long ago and new houses have to be competitive performance wise with old houses. Nobody wants to buy a house that needs a new roof every couple of decades so builders put up durable roofs on new stock.
 
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