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Real estate bargains abound, but watch out for home rage

I'm sure you've heard you can find some amazing bargains in the housing market, something echoed by financial real estate columnist Jim Woodard in a column that appeared in today's News & Record.

But brace yourself for all the unwanted extras when it comes to foreclosed homes.

Our real estate agent described an increase in what I like to call home rage during our recent home-buying experience in Greensboro. That's when a growing number of owners, angry they can no long keep their homes, take it out on the property.

They smash windows, flood bathrooms. Vandalize and steal fixtures including toilets. You name it.

Exhibit A was a foreclosed home we looked at in Greensboro. Yes, the price couldn't be beat. But wait. Why are my eyes watering? Is it tears of joy that we've just landed the deal of the century?

Dream on. That's just the overpowering smell of cat urine, which, like cockroaches, would still be making its presence known after a nuclear war.

Then there's the smashed window and other amenities (it looked like the previous owners glued dozens of pasta shells all over the fireplace mantel. What a waste of food.).

Sure, if we wanted to fix up the place - hire some carpenters, etc. - we might be able to come out ahead. And that might make perfect sense for some.

But for us, we wanted to move into a place that was habitable from the start. We eventually got lucky. We discovered a fairly new home at a great price in a nice neighborhood in northeastern Greensboro.

And it smells great.

Accompanying Photos

File photo (Associated Press)