I’ve been working with a bank since the first of the year listing bank-owned properties around Phoenix and Scottsdale. According to some of the other professionals that I’ve worked with (namely locksmiths and contractors), I’ve seen the best and the worst of how prior owners treat their property.
Two weeks ago, one of the homes in the small community I live in was scheduled to go up for sale at the courthouse steps on Monday morning. On Friday afternoon, two trucks showed up, with what I would speculate were “professional home strippers”. Neighbors watched helplessly, as these people proceeded to remove the air conditioner, hot water heater, all the interior and several of the exterior doors, most of the plumbing fixtures, most of the window coverings, the carpeting, as well as all of the kitchen cabinets and appliances. Police were called on site several times, but said that there was nothing they could do about it, since the property was still in the hands of the foreclosed homeowner.
On Monday morning, as I rode by on my bike, I saw one of the guys out on the lawn, and I told him that what he was doing was a Class 5 felony. He turned to me and told me that “the police were out three times this weekend, that they didn’t do anything, and there’s nothing you can do about it.”
I was steaming. So were my neighbors.
And, I was very glad to see this article in the Arizona Republic this week:
FBI cracks down on foreclosed-home strippers
A task force led by the FBI has targeted distressed-property owners who rip out cabinets or lighting and plumbing fixtures to sell as the banks foreclose on their homes. Five people have been arrested by the FBI Mortgage Fraud Task Force.
Plus, contact info with the FBI was included.
Julie Halferty, supervisor of the FBI Mortgage Task Force, said that home-stripping thefts can be reported to the FBI at 602-279-5511 or to px_cashback@ic.fbi.gov.
Besides the FBI efforts, banks reclaiming homes may also go after the prior home owner. I was contacted by a law firm, inquiring about the status of one of my bank-owned listings. They wanted detailed information about how much damage had been done to the home, as well as what had been removed, and indicated that they would be going after the homeowner if the dollar value reached a certain threshold.
So, now my neighbors sit and wait for the bank to come in an assess the damage, and decide if they will do any repairs before they put the house on the market. Whether they do or not, the sales price of this home which was in upgraded condition before, will not be something that will benefit any of my Sandpiper neighbors who are or may be selling their homes in the next six-twelve months.
It’s a shame.
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Twitter: buytucsonlots
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Great article, Dru. These idiots should not be allowed to own a home again…
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Twitter: drubloomfield
05.30.09 at 7:43 pm
Hi Bubba!
It was the wierdest thing to be on the sidelines watching this going on, but not be able to do anything about it.
I was working with a client a year or so ago who was from Arizona. It was about the same time foreclosures started showing up in our area. As we went through some of them, she was amazed that everything in the home was in tact. She said that in Phoenix where she was from, that lots of times people who lose their home take everything from counter tops to light fixtures. Needless to say, I thought the idea was crazy.
Only recently have I seen the same type of activity that you describe here in Boise, ID. Every light fixture gone, appliances of course, even doors.
Its a sad state of affairs when people who have in some cases willfully given up their home (not in all cases) and turn around and steal property that is obviously not theirs and most likely never would have been.
Being a victim of circumstances is far different than stooping to the level of being an outright thief!
Aaron Catt | Boise Real Estate Soup’s last blog post..3 Quick Tips To Sell Your Home Faster In The Boise Real Estate Market
Interesting that the guy the FBI busted a few weeks ago for home stripping was a real estate agent. He’d been hired to sell the very homes he himself had stripped. This guy clearly was unable to see how he was eating his own lunch.
Twitter: drubloomfield
06.21.09 at 6:15 am
Will be interesting to see how long it takes the bank to get this house cleaned up and back on the market. It’s still sitting there.