When is distressed to distressed

[Stephen Dominick]

I went to do a drive by of a property and check out the neighborhood.  The building is a side by side duplex 3/1 on both sides. All utilities are separate.  Located in a solid blue collar town in northeast Pa. The building has been reduced monthly from 134,000 to 100,000 in the last 6 months.  While looking at the building, a elderly woman appeared out of the basement door.  She told me she was the owner and was cleaning the snow from the steps as her husband can no longer do it due to medical issues. (They live down the street in what used to be her mothers house).  We began to talk, I ask a couple of questions and just listened to her tell me all that was done to the house and all that was wrong with it. Nutshell- New vinyl siding, replacement windows, gutters, large 4 car detached garage.  Asked what was the problems. Foundation, slanting floors on one side was the major issue. They hired an engineer who told them the place is solid just needs to be jacked and leveled. (home was built in the 1900) also high radon levels in basement for todays standards. She was very nice, sweet, and totally at the end of her rope with this building. Its been vacant for 6 months since the last tenant moved. Has great wood work but needs bath room and kitchen upgrades also. SO when is distressed to distressed?