Copper prices like many other metal commodity prices have gone through the roof in the last few years, and some of that copper has also gone out the front door, and garage after being ripped out of the houses it was installed. Copper pipe theft is as huge challenge and now we find that many of the homes foreclosed on, have had their previous owners steal the copper pipes on the way out, and then they've sold the pipe to a metal recycler.
Interestingly enough, even if the former home owner would never do such a thing, there are plenty of thieves who prey upon foreclosed vacant homes and they can rip out all the copper pipes, gut the walls, and be in and out in less than a few hours with a couple people. They leave behind a mess, but they don't care, they are stealing the copper pipe, loading up their pick-up or trailer with 1000s of dollars in copper. Not long ago, a friend of mine and I were looking at some foreclosed homes being sold by a local bank here, as a potential investment, realizing that in 6-7 years all the real estate prices will be back up again.
CHOPPER PRICES
We were amazed at the number of "as is" homes for sale with ripped out walls, missing appliances, and copper pipes stolen and sold for scrap I presume. The costs to fix homes like this and re-install the pipes, fuse boxes, air-conditioning units, water heaters, and built in kitchen hoods, vents, and appliances is huge even if one is buying at a wholesale level. So, you have to ask yourself; would you invest in a copperless house even if it were selling for 1/3 the cost?
That is half-off or more due to the real estate market, and some more off that due to the fact it's now been neglected post-foreclosure, and been gutted either by the former owner or thieves. And, before you hastily answer this question, why not ask yourself if you know what the going price of copper is these days, as you could easily have another 10 to 12 grand in new piping before you are finished, and then you have to wonder if you are getting a grand bargain anyway. Remember copper commodity prices are up steeply.
Buying a fixer upper makes sense for some, but a home which has been purposely neglected and gutted may be more than you are going to want to tackle, and just one step under being condemned, as these homes are not livable. Worse copper prices fluctuate, but are generally trending upward. Please consider all this and think on it.
Copperless Houses For Sale Thanks to High Copper Commodity Costs
Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes writing 24,444 articles by September 4th at 4:44 PM will be difficult because all the letters on his keyboard are now worn off now..
CHOPPER PRICES
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