Roaches & Bullet Holes Or A Market Decline?
By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
The first task in writing this post was to look up whether "bullet holes" was 1 word or 2. Turns out it's 2 words. Learn something every day right? Or is it everyday? Anyhow, I went to a bank owned property in Falls Church today.It was disgusting. It was infested by cockroaches (we didn't see any live ones) and a bullet hole in the window (or a run in with a Kevlar beaked crow). What a gem!The good thing was this client was able to see it as an opportunity, instead of being freaked out. Don't get me wrong, it wasn't my thing, but this isn't about me, this is about the buyer. It got me thinking about how bank owned properties (and other dumps) affect neighborhood pricing. I've never really believed in broad market data that say that an area has gone up or down. See my UP 14%!? No, Down ...
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