Stale turkey in Foreclosed Home does not Deter Buyers

Posted on October 8, 2009
Filed Under Foreclosure Homes | 2 Comments

Usually the smell of turkey roast would help to sell off a house; but if the turkey has been sitting in the bake for over a month, the stink might put off the buyer. But even though Preston Wright was a vegetarian he would not be deterred from the purchase of this unit in St. Paul.

None knew for sure what had happened to the previous owner who lived her with 11 adopted children. But the turkey in the oven indicated that they had left in a hurry. Wright was rather taken aback that those who were show piecing the house had not bothered to clean up the rotting mess. But when one is shopping in the foreclosure shops nothing should come as a surprise. It is all part of the game.

The house is in the non-fashionable eastern side of the city and had slipped into foreclosure from 2007 October. So too had 1,800 other houses in St. Paul according to the Department of Safety and Inspections. Wright had started to browse through aerial maps of Ramsey County hunting for REOs.

Wright was not a speculator flipping houses and cashing in on the foreclosure crisis but he was part of a new group of urban home hunters. The city authorities said the number of those who have bought and shifted to properties that were once vacant has doubled over the last year’s numbers. On the other hand number of foreclosures started to drop.

Wright had been hunting for an affordable unit in the locality where he had been living since 2000 and was acquainted with the many hobby farms that had once speckled this region. Some of the farms never developed and this made Wright start dreaming – an orchard within the perimeters of the city.
While zooming around on his motorcycle Wright kept his eyes and ears open. He spotted a property with a sale sign. It seemed just his right cup of tea. He had marked this on the government maps and now it was within his reach having gone into the market. The land was inclusive of a farmhouse that was built in 1900 standing on 2.6 acres of undeveloped land. It had been used however. For $316,000 Wright got the right to own all this together with a family dump site, stone patio, tree house, broken horse corral and tottering garage.

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