After showing and touring homes the past few weeks, in this fantastic Chicago weather, the reality of 'The Great Recession' as its' been called is very evident.
The number of homes that are vacant, foreclosure, abandoned or just sellers who have moved to another home, is astonishing. Even more sad is the new process of something called 'winterizing homes'. This is a process where homes in foreclosure or preforeclosure are assigned to have a crew of 'hatchet men' shut off the power and water for the majority of these homes.
The bank assigns these goons to cover all sinks and toliets, turn the heat off or very low and turn off the circuit breakers. The problem is that when the sump pump is essentially disconnected these homes flood, and in the case of several homes, including one of our listings, the excessive rain just before Christmas caused massive flooding.
Such was the case last year, when I was with a buyer contemplating an offer on a property when learning that the home had its lower level flood because of the power shut-off and then a mass melting of the snow. This has happened at other listings I have viewed recently that have been "Winterized".
Sellers who are selling and are in preforeclosure are encouraged to educate themselves on winterizing, because this could cause frozen pipes or flooding, and is important especially if the home is occupied.
So if your home or a home you have viewed is being winterized, sellers and buyers beware, that some unprofessional handyman might be starting a problem that can be difficult to fix, especially in this unpredictable winter.
Comments
I have a patient who rents houses out. He says he never throws people out during the cold months even if they can't pay the rent. He lowers the rent and then brings it back up in the spring. His reasoning is that places are harder to rent out in the winter and the gas and electric bills are in his renter's name. If he throws them out there is no one there to keep the house heated or to make sure the sump pump is still running. He thinks the banks are fools for throwing people out because of foreclosures in the winter. This is especially true when they are more likely have possibly thousands in repairs with no heat and electricity. He says the house will remain empty anyway and people will become homeless. He waits until it is warmer, raises the rent back to where it was and then thinks about evicting them in spring. Good article.
Milwaukee Dental Examiner
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