"Trashing out" in the Inland Empire
Video worth checking out: KCET's "SoCal Connected" explores the foreclosure business in the Inland Empire and finds what one contractor calls "a disaster on a grand scale."
One booming business: So-called trash-outs, in which teams of laborers rapidly "trash out" foreclosed homes by removing all the furniture, toys, appliances, food and assorted possessions left behind by the departing residents. You'd be surprised at what people leave behind: computers, flat-screen TVs, children's toys, birth certificates. An urn containing cremated remains.
Relatedly: I've filed a couple of blog items as a "guest blogger" for "SoCal Connected" this week.
You can find the entire show blog here.
--Peter Viles
Your thoughts? Comments? E-mail story tips to Peter Viles.
What’s appalling is all the “stuff” headed for the dump. Now multiply this by 1000 homes per day. What waste.
I know a guy that started doing trash-outs a few years ago. He now has several people working for him. A big screen TV is no big deal – he brought back a motor home recently!
Posted by: TakeFive | October 01, 2008 at 04:05 PM
From the video, some of these items look like they would have value. Wouldn't it be in the bank's interest to get a used furniture person in and get some money for it? If this is how they are handling it then they are literally throwing potential money and needlessly overloading the land fills.
If every house had let's say $500 worth of items, the total would add up quick and offset the cost. Or get a charity in to take some of the items for the poor. Just another example of wastefullness and the mismanagement of these files! In the early 90's, I knew a realtor who handled alot of foreclosures and "trash outs". She always made sure to separate the items from value from the trash. This is why pictures were taken and sent to the REO department. We are truly in a different time right now. What a shame for our environment.
Posted by: aj | October 01, 2008 at 04:33 PM
Off point...
Does anyone else get the sense that the Bailout has been orchestrated? The outrageous proposal by Paulsen; the machinations of Dodd and Frank; the media taking up the cause after the first vote...
Frankly, does anyone believe the Paulsen or the Frank-Dodd approach would restore liquidity in the market?
I hate to foster conspiracies, but...
Posted by: David | October 01, 2008 at 05:47 PM
Cinco, mi amigo.
Only take five would lament the "waste" left behind by a foreclosure and offer no empathy for the homeowner. Hey, is your buddy with the RV going to convert the engine to LPG or solar? I had no idea that you were so progressive, thinking about our landfills and all.
Posted by: inaweofE | October 01, 2008 at 05:58 PM
It just shows the reckless mindset of these losers. And the democrats want to bail these people out? Gimme a break. I'm a lifelong democrat but the Barney Franks in Congress are making me sick.
Posted by: GDC | October 01, 2008 at 06:07 PM
this dude is an eco-terrorist
Posted by: dudeman1961 | October 01, 2008 at 06:32 PM
Peter, what do you actually do besides link to stories already posted by Calculated Risk? That's a national blog that covers LA real estate faster, and more thoroughly, than you. I find it stupefying that the LA Times allows the use of valuable journalistic real estate for half ass reporting on a one sided topic. I guess that Zell must like it with his new venture in foreclosures with Zetabid - hope he's able to make enough money on that to pay off those bonds coming due.....
Posted by: cane | October 01, 2008 at 07:13 PM
Why would people leave behind a big-screen TV? They bought all the furnishings on credit and are about to declare bankruptcy, better to trash out than to wait for the Levitz repo man.
Posted by: kosher krab | October 01, 2008 at 08:48 PM
We saw a short sale recently -- the occupants (renters) had fled and abandoned thousands and thousands of dollars in high-end furniture, electronics, designer clothes, etc.
The next time we saw it, the owner had changed the locks and cleared everything out.
Weren't able to come to an agreement on price, unfortnately.... the owner/seller was insisting on showing the bank he was "responsible" by bringing in an offer close to his mortgage balance.
See you at the foreclosure sale!
Posted by: Drew | October 02, 2008 at 12:34 AM
Cane,
Then don't come on the site. This is my favorite site to check in the morning and evenings because it covers LA. Peter, keep up the good job.
Posted by: GDC | October 02, 2008 at 10:45 AM
I'm am sickened by this waste. I totally agree -- open the home for a day and sell everything off at discount prices and use the revenue to offset some of the loss.
Or, donate it to charity. Maybe even a charity that helps to feed and clothe people who have lost their homes.
What a waste -- such a shame. When so many people in this world have nothing. We are such a careless society.
Posted by: Cassiopoea | October 02, 2008 at 11:28 AM
It is a waste and a shame.
But, I don't like how they are biasing the story towards the "poor homeowner" and look what they left behind.
Like the guy said in the story, they had plenty of time to make arrangements. I think you are not giving these people credit, they knew full well what they are doing. They simply didn't want to pay for something that they were losing money on!
Now that you can walk away without any tax consequences - people do it. Sure your credit is trashed, but that will come back when it's time to buy again.
Posted by: Peter | October 02, 2008 at 05:06 PM
You would have to have the heart of a lawyer to not feel some empathy for the people who left without their trinkets and momento's of their life and family.
Posted by: syscom3 | October 02, 2008 at 09:10 PM
A few months after the Rodney King riots, one of my Long Beach apartments came vacant. The former tenants left behind some nice electronics and pricey jewelry. I think anyone who has had rentals for any time has had some similar experiences to what this video shows.
Posted by: Inland Empire | October 03, 2008 at 08:32 AM