Flood Victims Selling Damaged Homes As Is
More and more south Louisiana flood victims are selling their flood damaged homes to investors as is. Baton Rouge area realtor Ginger Maulden says the category “Currently Damaged” is being used to help flood victims track and sell their homes. She says the listing will be especially helpful to investors.
“An investor is looking to purchase this home to refinish it and either possibly rent it out or resell it later,” Maulden said.
Maulden says several homes in this category have already sold, and all of them were cash buys from investors. She says they expect the number of homes in the listing group to continue to grow.
“There are 97 active homes in this category, and there’s already 40 pending, and like I said 7 of them already sold,” Maulden said.
Maulden says she believes this category will be useful for at least another year or two. She says there are a lot of flood victims who still don’t know what they’re going to do with their flood damaged homes.
“They’re waiting for FEMA to tell them what they can do, and some of them are still uncertain. So we expect this to happen for a while in our market area,” Maulden said.