Reply to Pre-foreclosure next door- how scared should we be?

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[quote=Anonymous][quote=Anonymous]So the crazy lady next door refused to renew the lease on her rental tenants last year (really lovely family, btw) and raised the rent. No takers. Then she put it on the market to sell (as is) at a ridiculously high price. Again, no takers. We're trying to improve our home without going over the general property values/sold prices in the neighborhood, so I occasionally check realtor sites for homes in our neighborhood. I was poking around on Zillow and saw that the house is now listed as a pre-foreclosure with an auction possible. What does this really mean, and how concerned should we be that it's next door. We're not planning to move in the next year, but this surely isn't going to help our property value. [/quote]

I don't see what the issue is here if you're not moving in the next year.  You're getting rid of an obnoxious neighbor, which is a good thing.  The distressed house next door is going to be out of the foreclosure process at least a year before you intend to move, which is a good thing.  Maybe instead of a crazy lady next door there will be a young family that hunted for a bargain in your neighborhood.  That's a good thing.[/quote]

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