One Man’s Trash, Another Man’s Treasure
Housing starts are down, and prices for new homes are trending in that direction. But a small group of enterprising Homebuilders and Re-modelers are finding a new income source by refurbishing trashed houses that are in foreclosure by bringing these distressed properties up to Code.
Often when homeowners are forced to leave, the house will be left in a shambles, or looters may strip the property of anything that can be removed. Banks, cost conscious investors, and mortgage companies have a vested interest in refreshing these houses and also making sure that all Codes are followed. It is very important that the Codes be met so that the houses can be approved by inspectors for occupancy.
Unfortunately many fly-by-night operators are going into these neighborhoods, contracting to do the work that has to be done and then completely ignoring the Codes and regulations. If savvy Homebuilders and Re-modelers make a reputation for themselves by doing the job right and letting the current owners of these properties know that they do so and follow the Codes, get proper permits and inspections, it can be a win-win situation for everybody.