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Activity continues to build....
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Greetings!
As we wind down one of the most enjoyable spring and summer seasons in recent memory, weatherwise, we continue to watch closely what is going on in our national and local economy: are we passed the worst of it?
It woul appear that the free-fall in house prices is over, at least for the time being, but we are far from a "recovery".
Read on.....
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Going, going....Phfttt!
Auction process doesn't work well for all.
On a balmy Thursday afternoon in late August, a group of about twenty potential buyers showed up for a foreclosure auction on Mountain Road about 3 miles north of Rte 9. Being offered were two building lots, one with the abandoned structure shown above, the 2nd to the south, which had a 5 bedroom SureFlo septic system approved.
The auctioneer started his staccato pitch while the buyers shifted from foot to foot.
"TWO HUNDRED THOUSAND!"
No response.
"ONE HUNDRED FIFTY THOUSAND!"
Silence.
"ONE HUNDRED THOUSAND!"
Nothing.
Five minutes later, at $35,000, one hand went up.
The auctioneer, trying his best to get the job done, barked on in eternity. $40,000.....$45,000.....$50,000.
At fifty thousand dollars, no one moved.
"Come on" he urged, "there must be one more bid!"
What seemed like an eternity later, the bidding stopped at $56,000.
"Going once....Going twice.....Going..."
A hand went up.
The representative of the bank which held the note raised his hand and bid the properties in at the face value of the outstanding balance: $216,000!
There was an outburst from many of the attendees: "Why in the hell did you waste all our time if you knew you were going to bid such a stupid amount?" yelled one gentleman, while his two friends shook there heads in agreement.
The banker, the auctioneer, and attorney who filed the foreclosure beat a hasty retreat to their waiting cars, and headed off the to their next foreclosure in Lost Corner just north of Lucketts.
A lot of unhappy people headed home.
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Recently I had occasion to preview, then show this incredible turn of the century stone church complex, and I was blown away.
Built in the early 1900s, and offered in the low $600Ks, this unique property has a picture perfect 2400 square foot chapel, complete with organ, and an adjacent gathering hall of some 3600 square feet, complete with a commercial kitchen. The large, dry basement even has a duck-pin bowling alley.
Slate roof, large grounds..... what a great art or antique center, wedding hall, music venue..... Call me for more information.
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With each passing day, the residential housing market in our area continues to improve.
So if you have ever thought of trading up for more size or amenities, or a better location, and you're afraid to do so now, I recommend that you take a closer look. If your income is reliable, and you're not upside down in consumer debt, this may be the best opportunity you will have to own the home of your dreams here in Northern Virginia. Call me.
All the best,
Carl Fischer, Broker/Owner
All The Best Real Estate
MORE EXPERIENCE
BETTER OUTCOMES
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COMMERCIAL
LISTINGS
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New retail lease available;
Click the link below to see all my current listing inventory of retail, , industrial, and
investment properties
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UNDER CONTRACT
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This all-brick rambler located in Hamilton was recently on the market at $159,900. The 2009 assessment on this property is $287,200.
Call me for more details.
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Land of Plenty
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One of the joys of living here in western Loudoun is the ability to be exposed to the fruits of some of the most talented artisans in the country, usually at little or no cost. Recently, on a whim, I attended a performance at of the Skyline Boys Quartet, singing Southern Gospel music at the Blue Ridge Bible Church. You don't have to be religious to enjoy the talent God gave a few among us, and I can tell you, it was an evening I won't soon forget. So take the time to enjoy this great land of ours; its friendly and caring people, its music, wine, rich history, and abundant natural beauty. |
JUST SOLD
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This nearly new home located on Hollow Brook Lane near Bluemont was situated on 13.5 beautiful wooded acres. It just sold at the incredibly low price of $435,000
The number of buys like this continue to decline in number as the % of short-sales and foreclosures continue to decline. But there are still some great buys out there.
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NORTHERN NECK
OF VIRGINIA
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Now is a great time to think about buying a waterfront property in Virginia's famous "Northern Neck". Three and a half hours from here on good divided dual highways without dealing with the Rte 95 corridor or the Bay Bridge.
It's like turning back the hands of time. Picturesque settings like this which I photographed on a recent cruise from Reedville to Tangier Island.
As a member of the Northern Neck Association of Realtors (NNAR) since 1997, and as a former owner of waterfront property in Reedville, I'd love to share some ideas about how best to tie down a "placeholder" on the water for your affordable enjoyment.
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