I have strong opinions, but I rarely make a rant into a post. This is a rant. Let me get it off my chest while I am still shivering:
BANKS ARE COMPLETELY NUTS!
One of the many ways they are completely nuts (definition: intent on acting irrationally) is in refusing to keep the electricity on in the Bank-Owned properties they have listed for sale in regions like mine.
Outside the sunny south, they endure the cost of weatherizing these vacant homes, turning off water service, taping notices to sinks and toilets, cluttering up the appearance of the home with notice after ugly notice. But I get that. They are risk adverse; they don't want broken pipes and water damage. I just showed a regular listing today that has obviously had that very problem....with the floor coverings all torn up because of it.
But do the asset managers have to also turn off the electricity? No, they don't. But they do.
Why in the heck do they do that?
Answer: because they don't listen to their REALTORS.
Any selling agent could tell them, that by saving money on power they are also:
1. Turning out the lights.
That means buyers can't fully "see" kitchens, bathrooms, garages and closets, even in the day time. Not being able to see features means you can't see their benefits or, ultimately, their contribution to value.
That means buyers can't see backyards at night. In fact they can't see the whole house at night.
That means the seller has effectively restricted access to the daytime.
That means they are making it hard for many working buyers to see the house in the evening.
That reduces their pool of possible buyers. Remember what a even a 5-7% fluctuation in demand can do nationally:
take us to boom, then take us to bust.
They have avoided the light bill....and lost thousands of dollars in price.
2. Turning off the heat.
Without heat in the winter, a house doesn't "feel" like a home. A home is supposed to feel warm and cozy. 
It's supposed to "feel" like a place you want to be. A home isn't supposed to be a place you want to get to hell out of as soon as possible.
No heat in the house, means all buyers will want to flee the premises for the warmth of the car waiting outside. Most will do so. 
Take away the heat and buyers literally cannot warm up to the house. They won't take time to see the home's many good points. They won't stay around long enough to see past the bad points.
By saving the heating costs, lender just eliminated...maybe even alienated....another segment of potential buyers...especially older buyers. Reduced buyers means reduced price. Remember what a even a 5-7% fluctuation in demand can do nationally:
take us to boom, then take us to bust.
3. Turning off their buyers.
I've been writing long enough, here in my warm office, that I am no longer shivering.
But I am still shaking my head in disbelief.
I just showed seven houses to some retired buyers - dressed for cold weather. A couple were toasty warm. A couple were merely comfortable. The other three colder than the worst arctic circle coat commercial.
Somebody, PLEASE, tell the bankers that this market needs all the heat and light it can get!
Just in case they haven't heard.
***********************
Jim Hale
Principal Broker / Owner
Graduate, REALTOR Institute e-PRO
2012 Member, Million Dollar Club of Lane County
2012 Member, Real Estate Brokers Million Dollar Club
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Eugene, OR 97401-1962
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Eugene Oregon Homes / Real Estate jim@actionagents.net
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