I think you should go for the awful one with the mice and stuff…
Property #16
OMG!!! And I don’t say that very often about these properties. I think I have seen it all and then realize I have not. Completely overgrown, could barely find the front door. The agent was outside and almost refused to go in. Rat poop everywhere inside the house, full of leftover personal belongings, trash and crap. And what was really weird is that were bird feathers everywhere. Back yard was a mess. Abandoned swimming pool, weird concrete pond thing, sheds full of crap and a strange concrete bunker thing.
This property is in San Carlos and I am not familiar with the neighborhood. I did a thorough comparable analysis and discovered that houses are selling hot. Good first time home buyer area. I had a lot of similar properties to review. I was amazed to discover there was a good margin possible for the house. So I made a written offer directly to the bank. Its a long shot because most banks insist that a property be on the market for at least two weeks. Its very rare to get a property directly from the bank without it ever getting listed.
Property #17
very cute house in OK condition, just needs updating with kitchens and baths. BUT its close to a freeway and there is terrible freeway noise outside on the deck. Listing agent met me there and was down playing it. She stated “house down street just sold for 763,000”. I couldn’t believe it so went home and researched. Yes, a house 2 blocks down street did sell $763k but everything on this block lingered for 3 to 6 months trying to sell and for a lot less. This tells me that the freeway noise does make a difference to buyers. Discussed with my agent and she doesn’t want to touch anything with freeway noise.
So wrote a nice email to the agent letting her know that I wont be able to make a strong offer against her asking price.
Property #13
I am meeting a foundation repair company at the property to get an estimat on Friday afternoon. I want to be careful about the total cost to get a certified fix. Will make a decision about next steps after I get their estimate. My agent hasn’t stopped talking about how much she loves the house. I’m worried because elementary school assigned is not highly rated and its obviously going to be a family house.
cb, are the middle and high schools rated OK?
RE: #16 with the over growth, rodents and feathers please be careful of snakes!
Property #13
Yes, for some reason the middle school and high school are rated good - not the highest, but decent.
Property #16
It was hilarious when we were in the house. Every single sound the agent leaped out of her shoes like something was going to come out and attack her.
For some reason it didn’t smell bad, it’s not actual wet type trash in bags and stuff. It’s more like there was a hoarder living in there and it was just ‘junk’ everywhere, cobwebs, gross mold in bathroom, etc. There could probably be a lot of snakes in the yard area. If I get this house I will suddenly ‘be called out of town’ during the trash out and demolition phase and miraculously show up on the day that everything is cleared out 
I’m probably wearing out my pleading to the poor guys that have had to deal with all this grossness on several houses now.
I did discover something that was very disturbing. The side gate to the house was unlatched and swung open easily. There is a very deep empty pool with about 3 feet of gross standing water in it right inside the gate. The listing agent (who is responsible for the bank-owned property) has a HUGE liability if some kid got into that back yard and fell down into that concrete pool. I pointed this out in hopes that they would realize that they need to get rid of that property ASAP.
Then we both did something really stupid. The house next door was flipped and just went back on the market. We went over and snooped around the house. The side gate was unlocked so we went through it to get into the back yard. We didn’t realize that it shut behind us and when we tried to get out the latch was very low on the outside of the gate (which is kind of weird… usually gate latches are on the inside of the property). We had gotten ourselves locked inside the yard of the other house. We couldn’t reach the latch on the outside. I had to go get one of the big trash cans, drag it over to the gate and try to get on top of it to reach over and open the gate.
My job is so glamorous!
Property #4
Going all the way back to the Mid Century Modern house with the major termite damage. I have been following it. It was on the market for 10 days and they just closed escrow. Someone paid $877,000 all cash and they closed in 3 weeks. I cannot tell who bought the property - I don’t think it was an investor.
This is the one where I thought a total fixed up price might get $950,000 so I just couldn’t compete.
how does house #16 compare inside to flip #3 – re: trash & etc. ?
Good question regarding the trash.
This house does not have neatly stacked trash bags to the ceiling. It does not have disgusting trash all over the kitchen. It has loose ends strewn all over the floor and most of the personal belongings and furniture are gone. So, there is not an Estate Sale involved here. But, you can tell that it was a terrible living situation with rats. I can guarantee there are still rats living somewhere in that house - probably in the attic. It has two completely illegal ‘additions’/enclosed porches with illegal wiring running everywhere. These will have to be torn down. It has metal storage sheds all over the yard completely filled with stuff.
There are interesting laws regarding foreclosure. When a buyer at foreclosure auction (whether it be the bank taking it back or a private individual purchase at auction) takes possession of a property they are required to ‘inventory’ all personal property remaining in the house. The inventory has to be posted for 18 days and you have to try to send the list to the prior owner (believe me, you have no idea where they are so this is impossible). If the inventory is over $600 you have to have a auction or sale of the property. Then you have to give the proceeds to the prior owner. Laws are very sticky about this.
In this situation the bank tried to tell the Real Estate Agent that she had to go through the place and do an inventory and do the auction. She refused to do that. So the bank has been taking their sweet time trying to figure out the mess. They sent an ‘estate’ company in to pull out anything of value and conduct an auction. My understanding is that this process has been completed and all of the stuff remaining can be thrown away.
It is my opinion that the Bank will have to spend a lot of time and money to clear out the house and get it ready to be listed for sale. And, there is a huge liability with the abandoned property right now. If I was one of the neighbors I would be calling the ‘management company’ phone number that is posted on the house (which, in reality, is the listing agent) and be complaining every single day about the situation.
cb, if you were sneaky like I am, you’d be asking your friends and relatives to call the agent and pretend to be neighbors. And they’d tell the agent that the house is an abomination, must be cleaned up and fixed up quickly, and the sooner the better!
VH, it is a risky proposition, what if the agent knows the neighbors? And if the agent ask for a call back number? The names of the neighbors can easily be found from various sources.
Just knock on a few of the neighbors doors and give them the number to call to complain about the house. I’d be honest and tell them you’d like to get in their to fix it up so it wouldn’t be a danger and “rat magnet” Chance are if this house is a breeding ground for rats and there is limited food they are moving into neighboring properties. If people are given the info on who to call, they will likely do it you just need to give the phone number. Much better if the complaints come from the real neighbors.
cb, here is my philosophy about elementary schools. Ours was the lowest rated in the school district, but mostly for a stupid reason - % of kids getting free lunches. Kid went there and did very well; ended up in a TAG track anyway (so if that elementary school offers any specialized programs for advanced learners, it can be emphasized in the brochure for the house). Plus, parents usually get very involved with their elementary kiddos homework anyway… Not so much with the older kiddos’ work. The quality of the middle and high schools was way more important to us when we looked for the house. It could be different in your neck of the woods though.
The last house sounds like a real gem! 
cb, you are a superhero - clearing blight out of the neighborhood one house at a time!
Property #16
I just received an update that my offer has already been submitted to the bank this morning. That was fast!!
After the visit yesterday, the listing agent is kind of panicking about the property because they are liable for that empty pool situation. I think they are going over there immediately to put a pad lock on the gate. But, a house and yard infested with rats will definitely spill over to the neighborhood. Unfortunately it might spill over as soon as there is activity clearing it up, fumigating and trapping. I’m afraid we may have to resort to rat poison and I hope that there aren’t any neighborhood critters that get in there. Will probably only use it up in the attic areas
cb, is the pool on #16 salvageable, or would you wind up burying it?
The pool and pool tile appear salvageable, but the pool equipment is shot. but, the prior owner just put strange bricks around the pool instead of a patio. They are all loose and crooked, huge trip hazard. It all has to be removed and new concrete patio poured around the pool. My biggest fear is that we get it cleaned up, fill it and then find out it is leaking.
ooohhh. the little mouse who we found living in our garage was manageable. rats are another story!
liking the updates.
I guess I’d go in with the assumption (figured into the budget) that the pool IS leaking, and then be happily surprised if it wasn’t.
I think that pool is going go be an extremely expensive proposition. I completely agree that you should assume it will need replastering.
Is a pool still a desirable feature given the drought and water shortages? Just a question from a clueless Washingtonian.