By saying that you are in 85224, That being roughly South of Warner, and between the 101 & Alma School.
Now taking into account that you wonder who takes care of the landscaping..Hmm must be vacant.
"That is in Foreclosure"..."is in"....has not been foreclosed.........being Short sale.
You live on a street that rhymes with Bark.?
I can`t use the real name, I am not sure that there is enough money in my legal defense fund
Well if I am correct.
Then the home is a short sale, the Realtor is simply lowering the price to bring in buyers. The newest trend in short sales is to bring in as many buyers and create a bidding war. Besides that the bank wont start talking to the listing agent, or get the ball rolling until there is a contract.
Don`t worry, it is very unlikely the bank approve that price. Bad news is the home will be foreclosed and become a REO.
The bank will do a BPO AKA Appraisal, and re list the home probably in the high 200`s.
Call the Realtor to voice your concern about the landscape. While you have them on the line ask if it is a short sale, again if it is, the bank needs to approve that price.
The Bank is not going to walk away from that much money.
Keep me posted,
I understand your frustration, but in the long run it may benefit you to have the sold sooner than later to avoid the unsightly property condition bringing down the neighborhood appeal.
It is the bank's responsiblity to take care of the property since they are the new owner. Typically the assigned REO listing agent will prepair the property for sale and maintain the landscaping until the home is sold. The bank then reimburses the listing agent for any costs they incurred.
When a lender forecloses they pay almost another 50K in costs to do the foreclosure and then they have carrying costs. It is sometimes better to price it to sell.
A home in foreclosure will always be of a lower value even when the market was not as challenging as it is right now. In my opinion the worse thing that can happen is for this house to sit there empty and decaying...so the sooner it finds a buyer the better is for everyone. As for the value of the surrounding homes, if your area does not have a lot of home in foreclosure, this one will show as a blip on the "radar" of comps made by realtors when pricing your or other homes for sale, if it does not stay too long without an owner. Hope this helps.
On the downside, if the house sells really low, then you're stuck with that price as a comp.