Selling The ‘Extreme Makeover’ Home in Clayton County, Georgia
The Extreme Home Makeover Foreclosure home in Lake City, Georgia has been given a reprieve from the auction block for 30 days. As we previously reported the homeowners financed the home for 450,000 dollars and have since gone into foreclosure.
The bank has given the couple 30 days to find a buyer, but realistically unless a good Samaritan comes forward, it is very unlikely to sell. The home, while nice, is overbuilt for the neighborhood. That is the curse of the Extreme Makeover homes, they do not fit the communities they are in.
If the families that get this lavish gift live there is a great benefit. But when the time comes to sell, they will never get what the home is worth if built elsewhere. That old adage comes to mind; location, location, location.
But the whole idea of the home was never to be a piggy bank like the Clayton County family used there gift as. They instead created a mess and now have to face the consequences.
The home was listed with ReMax — with an asking price of $950,000 — until the listing expired a few weeks ago. Max Chavez, a ReMax associate broker who listed the home for the Harpers, said it appeared the Harpers were still interested in selling the home when the listing expired.
“I’m hoping that they’ll re-list the property with me,” he said. Their house wouldn’t be the first “Extreme Makeover” to be sold. Extreme Makeover homes in Idaho and New Jersey were also put on the market earlier this year.
An ABC-TV spokesman declined to discuss problems some show participants have faced. via AccessAtlanta.
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Pingback by Extreme Foreclosure - TRNT.com/LIFE at TRNT.com/LIFE on 10 August 2008:
[...] The Real Estate Bloggers have been giving me updates on the situation. The family is getting a reprieve from the foreclosure for 30 days, but really…who is going to buy a house like that in the neighborhood it is in? [...]
Pingback by Hitting the Links | Redfin Boston Sweet Digs on 11 August 2008:
[...] The latest victims of “Extreme Makeover: Home Edition” have thirty more days before they lose their home. [The Real Estate Bloggers] [...]
Comment by erikko on 11 August 2008:
that’s really the big deal. when somebody pimped your home and it didn’t fit, you got no choice but to sell it because you can’t maintain it
Comment by Diane Tuman on 11 August 2008:
Your assessment that Extreme Makeover Homes do not fit the communities they’re in is right on the mark. Lots of people are offended by the audacity of this idea. Take a look at these comments: http://www.zillowblog.com/extreme-makeover-homes-on-market/2008/05/
The general feeling is fitting the ancient Chinese proverb: “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.”