As I was going through the residential area of the Tri-Cities I noticed all the homes that are obviously under foreclosure: The lawns are dying, the shrubs are overgrown or dead, making once-beautiful homes look like they've been left to rot.
We owned one of these homes in Kennewick. We purchased it in 1972 and owned it for the next 28 years. During that time, the house was well maintained. The kitchen was updated, the bathrooms were redone, a small pool was added in the backyard and the greenhouse was enclosed. The house was sold in 2000 and again a few years later. Now it sits empty!
This is a custom-built home with private dining room, three large bedrooms, two and one-half baths, a private entry and hardwood floors throughout. It has a full downstairs family room with wet bar and fireplace.
For three years, this beautiful home with its sculptured ceiling, hardwood floors and plastered walls has been sitting empty. When the bank forecloses and then does not maintain the property, the whole neighborhood suffers. Property values plummet, causing a decrease in tax revenue and the ability for others to sell their homes. One would think the financial institutions foreclosing on these properties would find it beneficial to maintain them, but they obviously don't agree.