Pests Make Themselves at Home in Foreclosures
By: Leslie Pandey, Senior Content Writer/Editor | September 9, 2008
Last summer, Amy wrote about how California had been seeing a rise in cases of West Nile virus linked to foreclosed homes with swimming pools. As this CBS News report says, this alarming trend is still going strong. Plus, there has also been an increase in reported cases of a more virulent strain of the virus. It’s scary stuff indeed. But mosquitos aren’t the only scary pests moving into uninhabited homes.
As the national rate of foreclosures continues to increase (we recently reported that more than 18 percent of sales transactions in the second quarter were foreclosures), all sorts of pests are finding these homes perfect breeding grounds. Roaches, rats, ants, spiders…oh my.
This Bakersfield Californian article on foreclosure pests says that many foreclosed homes are left filthy, and it’s often months before banks send real estate agents to prep the homes for sale. That’s when the little critters move in. Just as mosquitos do, many of these pests pose health hazards, as this article provided by RISE (Responsible Industry for a Sound Environment) points out.
Ticks, fleas, and stinging insects — often found in overgrown yards — carry the risk of Lyme disease, Rocky Mountain spotted fever, and other infections. Poisonous spiders like to hide in dark, warm places that can be found inside uninhabited homes. And rats and roaches can spread E. coli, streptococcus, and Salmonella.
These pests can even wreak havoc on neighbors’ homes once the foreclosed properties are being cleaned up, as pests scurry to seek out new hiding places. It’s yet another weird — and icky — effect of foreclosure.
Photo credit: ©iStockphoto.com/lissart
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Florida real estate instructor on September 10, 2008 1:08 pm
A very good reminder to have a recent property inspection before you bid on any of this type of neglected inventory!
There are units that have been empty and uncared for in my market in terms of months (many months). In Florida that could be a disaster…
Lisa on October 1, 2008 8:19 pm
We just bought a foreclosed home. In October before the previous owners lost it we viewed the home and it was very cozy warm and dry. Not clean or cared for (divorce situation) but it was dry. In January it was foreclosed on, didn’t sell at auction in April and came back on the market in July. In July when we did the home inspection they discovered two types of mold.
5 calls for mold inspection at a cost of $0-$2200. just for an inspection and two estimates with two of those companies one for $5500. and the other for $12k. Mold removal is a racket. We discovered with 2 former mold removal professionals that the removal will take $200. worth of product and about 10 man hours.
We understand the critter problem with bees, yellow jackets and wasps littering our newly purchased 2 acres.
The bank (Freddie Mac) was kind enough to mow the property twice this summer and when the house was broken into they will replace the windows that were damaged.
We bought our home for $199k and last October the former owner wanted just over $300k. In this market it is not worth a dime over $270. So even though we have discovered that we need to put in a $20k septic system before we get to move in we have still made a home purchase which provides us with instant equity. The banks appraisal is for $258k.
My point is although buying a foreclosed home is a lesson in red tape and many critter and mold issues there are deals out there.
We now can afford to live in a great home in a great town and it will remain our choice for me to remain a stay at home mother.
edward lovette on October 1, 2008 9:16 pm
The only unfortunate thing is that you ‘caught a falling knife’…Fortune magazine says the market won’t bottom until 2012…other experts say it can’t bottom until 18 months after foreclosures peak…they have not yet peaked
Lisa on October 2, 2008 10:54 am
I would agree with one exception. We bought our home in Tyngsborough, MA. This town has very few homes for sale and with the property size and size of the house and a 4 car garage plus a pool and large shed in a private setting on a quiet street we were not the only ones interested in this home. Multiple calls were made to the listing agent to view the property before our offer was accepted. Now if this property was 2 towns over we could have waited 6 more months and gotten it for 30-50k less but not where we bought.
We are 1/4 mile from one lake and 3/4 mile from another, the schools are amazing, they have a private preschool program and this house is the only way we could have afforded to be in this town.
We were lucky to get it and we know we were not willing to take the chance of losing it to someone else willing to jump through the hoops we are jumping through.
We will be snowmobiling from our back yard this winter.
My suggestion is for anyone looking at any home is to do the research on that property. Find out all there is to find out on public record and be educatated before making an offer.
Good luck to all of us in this economy!
NYC Mold Removal on November 8, 2009 7:17 am
The real estate companies are using mold resisting products while building homes. This one is very difficult to remove mold without help from professionals.
Nyc mold removal