Yep. The wife and I were looking in Orlando a couple of weeks back. The REOs were in VERY bad shape. Pre-forclosures were just as bad. I went into one house and the Realtor was claiming that it only needed a cosmetic to bring it up to showroom. All fixtures, faucets, appliances, baseboards, crown molding, air-handlers, compressors, garage door openers, water conditioners, electric covers, light fixtures, shelving, cabinets, window treatments....
Of course the entire landscaping was completely dead and I haven't even discussed the one bedroom monther-in-law suite which had been gutted. Stupid stupid Realtor. My BOE was $100K in rework to bring it to showroom. They wanted $380K for the property.