How can a distressed home be worth this much?

How does the bank typically sell distressed homes?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 30 2010
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (2)

How bout if the foundation is slipping? How do you qualify market value if the homes around it are considered in premium condition.

If the bank owns the property, as an agent of the bank shouldn't the  Realtor and the bank be making an effort to correct the problems before the property goes to sale.........after all they the ones who have been making all the money?

The prices I have seen on these types of homes are not even close to accurate if you and your community plan on maintaining a basic standard of care other than paint and carpet!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 04 2010
"Distressed homes" (referring to foreclosures and short sales and such) are generally not priced all that different than "regular" sales.  Either way, they are priced to reflect current market value.  Perhaps a distressed home may have been vandalized or neglected, and the price will be a bit lower to reflect that.  

Richard Schulman
Keller Williams Realty
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 01 2010
 
Related Questions
when on the homepath website what does under contract mean on the listings?
Profile picture for zuser20140331123548616
Latest answer by zuser20140331123548616
13 minutes ago | 8 answers
how do i appeal for property assessment so i can have a lower property tax bill. my porperty is in c
Profile picture for Jeff Nobleza
Latest answer by Jeff Nobleza
8 hours ago | 2 answers
  • Asked by jcka corbes
  • In Taxes
  • 5 days ago
who do I contact to put in a bid on a property that was foreclosed ?
Profile picture for wetdawgs
Latest answer by wetdawgs
11 hours ago | 1 answers
i have 350000 in equity can i get an equity loan with bad credit?
Profile picture for user03450220
Latest answer by user03450220
12 hours ago | 3 answers
Home is not in any type of foreclosure
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.