Monday, October 13, 2008

One Problem We Aren't Facing

This isn't strictly Portland related, but I thought you guys might be interested.

We had dinner with a friend from Boston who's been watching the housing market there, waiting for prices to drop to the point where they can afford something (patience...) and she had a great story.

Apparently there are so many houses that went into foreclosure, or were bought back by banks last winter, and ended up sitting vacant over the winter. The banks would turn down or turn off the heat to save money, and of course the pipes would freeze and burst. SHe has seen a number of houses that at a minimum have holes in the floor from water damage, and in the worst cases have developed nasty cases of mold.

I can't imagine that banks did this intentionally, but it speaks to the volume of properties that they must be dealing with, overwhelming their reduced staff.

Luckily we shouldn't have that problem here. But I have been seeing more and more houses that look like they've been empty for a while.

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3 comments:

Stewart said...

We may have less of this problem, but I know of at least one house on NE 15th that sat open to the weather for at least a year.

Good thing they chose a good material for the NW when they finally finished it - Stucco! That'll keep that black mold in.

PDX Outsider said...

Sat open? As in holes in the roof? Or doors wide open?

Stucco, brilliant!

Stewart said...

Siding was removed, OSB was up in spots, shards of Tyvek wrap exposed wall insides when the wind blew it like discarded sheets.

I would put money it being a black mold tear-down in 2 years.