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Realtor: Home Damage Costs More Than Banks

Banks Make Up Damage Costs On Future Homes, Realtor Says

POSTED: 8:26 am PDT May 2, 2008
UPDATED: 8:46 am PDT May 2, 2008

As more foreclosures flood Valley neighborhoods with abandoned homes, these houses are becoming more unsightly thanks to vandals.

Realtors who sell foreclosed homes said they have a larger problem on their hands, thanks to people who damage the homes because the house loses further value. Sometimes the former homeowner is responsible for the interior and exterior damage, they added.

"In some homes, the former owner or occupant was so mad that they lost their property, they lost it," said David Rubinger with Footprints Realty. "(Banks) usually have to discount prices further than the discount prices (to sell the homes). So, they're gong to make it up in future loans."

Rubinger suggests that if someone is damaging a home in your neighborhood, contact Metro police.

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