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Sunday, February 15th, 2009 at 9:33 PM

Self-Indulgent Mold Fest

An example of how you can lose 40% in three months….

Posted on Sunday, February 15th, 2009 at 9:33 PM in Foreclosures/REOs, Jim TV | 13 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 13 Responses

  1. Doesn’t remediating mold a little bit at a time just let the areas you’ve cleaned up get reinfected by mold from the areas you haven’t done yet?

    GeneK | February 15th, 2009 at 9:48 pm

  2. See the problem here is not enough people want to live here, and no investor wants to rent out previously a mold-infected place for fear of lawsuits. There’s nothing price can’t fix, but the question is what price.

    sdbri | February 15th, 2009 at 9:55 pm

  3. You made me laugh with that comment about changing your aspiration to move in there.

    Despite your tough talk, Jim, you’re not *quite* jaded or curmudgeonly to live in Geezerville…. yet… :)

    greenlander | February 15th, 2009 at 11:02 pm

  4. Trailer park meets Stalag 13…I’m guessing you’re not going to make Realtor of the Month at the Oceana HOA meeting.

    lgs | February 15th, 2009 at 11:11 pm

  5. Epic rant, beginning at 4:06.

    RBRenter | February 15th, 2009 at 11:20 pm

  6. What a mess……literally!!!

    bobfather99 | February 15th, 2009 at 11:36 pm

  7. Yes Gene, the mold needs to go all at once.

    I didn’t say it right – we cleaned out the mold first, it’s the reconstruction that we’re having to take in baby steps.

    There was another one on Pala Rd. where I had the same problem. Mold goes first, but then the asset manager pulls up halfway through the reconstruction and tells me to list the property – for full retail. I refused, and he calls me, which is rare. We get into a HEATED discussion, and I end up telling him to shove it, I’m not putting the property on the open market in that condition at that price. “Give it to another agent” was my parting shot.

    He did, and it doesn’t sell, and last week they assigned it for auction.

    If he would have taken my advice, he could have spent another $10,000 and gotten retail, instead, they’ll lose AT LEAST $100,000 more.

    They assign these properties to agents, and make us accept or decline them before seeing the interiors. On this mold farm in the video, once I got inside I immediately began calling and emailing the bank to change my vote – I don’t want this listing. Not only did the refuse, they won’t even acknowledge the request – no callbacks, no emails, nothing. Just flat out ignored me, and proceeded to send me tasks as if my vote doesn’t exist. Meanwhile, the neighborhood listings are dropping 40% in three months while they kick it around for months.

    Jim the Realtor | February 16th, 2009 at 4:34 am

  8. Love the Frank Zappa reference!

    Brad | February 16th, 2009 at 10:08 am

  9. Did any real lowball offers come your way before the repairs started? Presumably there are some who are not daunted by the prospect of an extensive renovation if the price is low enough.

    Johan Larson | February 16th, 2009 at 10:43 am

  10. A once-mold-infested house is usually a giant Petri dish just waiting for a chance to start growing again.

    GeneK | February 16th, 2009 at 12:37 pm

  11. The stalag 13 comment was one of your best ever. Bravo.

    Former RB Resident | February 16th, 2009 at 7:16 pm

  12. Thanks, I’m not sure how I referenced Hogan’s Heroes and Frank Zappa in the same rant…

    Jim the Realtor | February 16th, 2009 at 7:21 pm

  13. 58 days = 2 months, not 3 :)
    Love the video

    Anonymous | February 18th, 2009 at 10:00 am

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