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Foreclosure

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Harrisonburg & Rockingham County Foreclosures
By Scott Rogers  •  April 15, 2008     
For some time now, I have been posting the details of foreclosures on my blog. I began to post all Harrisonburg and Rockingham County foreclosures because I have had clients interested in buying foreclosed properties. I'm making a change starting today, that I believe will still well serve my clients, and those interested in foreclosure properties.

First, let me explain that I categorize foreclosures into three areas:
  • Terrible Opportunities - where the original amount borrowed (or my estimate of its current balance) is at or above the assessed value. Here is one example, where the original loan was for $231k, and the current assessed value is $157k.
  • Good Opportunities - where the original amount borrowed (or my estimate of its current balance) is close to, but below, assessed value. Here is one example, where the original loan was for $270k, and the current assessed value is $316k.
  • Great Opportunities - where the original amount borrowed (or my estimate of its current balance) is well below the assessed value.  Here is one example, where the original loan was $87k, and the current assessed value is $196k.
A few observations about the people who may be interested in foreclosure properties:
  • Investors who hope to flip foreclosure homes (buy, fix, sell for profit) would likely be interested in the "great opportunities."
  • Buyers looking for a home for themselves would likely be interested in the "good opportunities," and certainly the "great opportunities" as well.
  • I have yet to meet someone who is interested in the "terrible opportunities," mainly because they aren't likely to be able to buy them at a reasonable price -- the bank will take the houses.
Unfortunately, for those who hope to do well buying a foreclosed home, most foreclosures in this area fall into the "terrible opportunities" category.  For example, yesterday a home on Chestnut Oak Lane was in the Daily News Record with an original loan amount of $343,920 --- and an assessed value of $316,700.

As I move forward, I will only be posting the foreclosure properties that I would categorize as a "good" or "great" opportunity.
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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 492 Lee Ave, Harrisonburg - $76k opportunity
By Scott Rogers  •  April 14, 2008     
492 Lee Avenue, Harrisonburg
Property Characteristics
Finished SF
1,404
Circa
1945
Bedrooms2
Bathrooms1
Lot Size0.172 acres

Pricing
Assessment
$181,700  (2008)
Original Amount of Deed of Trust
$105,000 (7/2006)
Equity Opportunity
$76,700

Trustee Sale Details
Date/Time
April 23, 2008 at 12:00 PM
Location
Rockingham County Courthouse
Deposit10%




Source: Daily News Record, April 7, 2008
Trustee: Bierman, Geesing & Ward, LLC, 301-961-6555

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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 222 1st Street, Broadway
By Scott Rogers  •  April 1, 2008     
Property Characteristics
Finished SF
1,440
Circa
1999
Bedrooms3
Bathrooms2
Lot Size0.502 acres
 
Pricing
Original Amount of Deed of Trust
$258,000  (5/11/2006)
Assessment: Land
$30,800
Assessment: Improvements$123,700
Assessment: Total$154,500
Most Recent Sale
$98,000  (12/10/1999)
 
Trustee Sale Details
Date/Time
April 9, 2008 at 4:45 PM
Location
Rockingham County Courthouse
DepositLower of $20K or 10%



View Larger Map

Source:  Daily News Record, 3/31/2008
Trustee:  Samuel I. White, 757-457-1460
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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 19389 Mt. Pleasant Road, Elkton
By Scott Rogers  •  March 30, 2008     
Property Characteristics
Finished SF
1,445
Circa
1947
Bedrooms3
Bathrooms1
Lot Size0.706 acres
 
Pricing
Original Amount of Deed of Trust
$179,900  (9/5/2007)
Assessment: Land
$28,000
Assessment: Improvements$81,400
Assessment: Total$109,400
Most Recent Sale
$179,900  (9/5/2007)
 
Trustee Sale Details
Date/Time
April 28, 2008 at 12:30 PM
Location
Rockingham County Courthouse
DepositLower of $15K or 10%


View Larger Map

Source:  Daily News Record, 3/25/2008
Trustee:  Shapiro & Burson, LLP, 757-687-8822
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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 324 Gravels Road, Harrisonburg
By Scott Rogers  •  March 30, 2008     
324 Gravels Road, Harrisonburg, VA
Property Characteristics
Finished SF
1,237
Circa
1954
Bedrooms3
Bathrooms1
Lot Size0.947 acres
 
Pricing
Original Amount of Deed of Trust
$86,400  (7/27/2001)
Assessment: Land
$32,000
Assessment: Improvements$78,100
Assessment: Total$110,100
Most Recent Sale
$108,000  (7/27/2001)
 
Trustee Sale Details
Date/Time
April 3, 2008 at 4:00 PM
Location
Rockingham County Courthouse
DepositLower of $7,500 or 10%


View Larger Map

Source: Daily News Record, 3/24/2008
Trustee: Samuel I. White, 757-457-1460
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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 244 Hillendale Avenue, Harrisonburg
By Scott Rogers  •  March 24, 2008     
244 Hillandale Avenue, HarrisonburgThis house is currently on the market --- click here for details.

Property Characteristics
Finished SF
1,375
Circa
1966
Bedrooms3
Bathrooms2.5
Lot Size0.448 acres
 
Pricing
Original Amount of Deed of Trust
$200,000  (9/17/2004)
Assessment: Land
$52,000  (2008)
Assessment: Improvements$145,400  (2008)
Assessment: Total$197,400  (2008)
Most Recent Sale
$97,500  (9/5/1996)
 
Trustee Sale Details
Date/Time
April 22, 2008 at 10:00 AM
Location
Rockingham County Courthouse
Deposit$10K


View Larger Map

Source: Daily News Record, 3/22/08
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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 2090 Annandale Court, Harrisonburg
By Scott Rogers  •  March 24, 2008     
2090 AnnandaleCourt, Harrisonburg
Property Characteristics
Finished SF
1,015
Circa
1985
Bedrooms2
Bathrooms1
Lot Size0.225 acres
 
Pricing
Original Amount of Deed of Trust
$134,500  (10/19/2006)
Assessment: Land
$28,000
Assessment: Improvements$80,100
Assessment: Total$108,100
Most Recent Sale
$93,900  (10/24/2002)
 
Trustee Sale Details
Date/Time
April 3, 2008 at 4:00 PM
Location
Rockingham County Courthouse
DepositLesser of $10K or 10%



View Larger Map
  
Source: Daily News Record, 3/22/2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 1530 Apple Ridge Court, Harrisonburg
By Scott Rogers  •  March 13, 2008     
1530 Apple Ridge Court, Harrisonburg
Property Characteristics
Finished SF
2,493
Circa
1997
Bedrooms4
Bathrooms2.5
Lot Size0.288 acres
 
Pricing
Original Amount of Deed of Trust
$222,400  (7/29/05)
Assessment: Land
$75,000  (2008)
Assessment: Improvements$231,500  (2008)
Assessment: Total$306,500  (2008)
Most Recent Sale
$278,000  (8/1/05)
 
Trustee Sale Details
Date/Time
April 2, 2008 at 4:00 PM
Location
Rockingham County Courthouse
Deposit10%


View Larger Map

Source: Daily News Record, 3/11/08
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 247 Rayann Lane, Broadway
By Scott Rogers  •  March 11, 2008     
Property Characteristics
Finished SF
1,344
Circa
2003
Bedrooms3
Bathrooms2
Lot Size0.287 acres
 
Pricing
Original Amount of Deed of Trust
$231,000  (4/27/06)
Assessment: Land
$33,000
Assessment: Improvements$123,900
Assessment: Total$156,900
 
Trustee Sale Details
Date/Time
March 19, 2008 at 4:15PM
Location
Rockingham County Courthouse
DepositLower of 10% or $20,000
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: Mt. Hope Lane, Keezletown
By Scott Rogers  •  March 8, 2008     
Mt Hope Lane, Keezletown Virginia

Property Characteristics
Structure
1,320 SF log home
Bedrooms
3
Lot Size91.075 acres
 
Trustee Sale Details
Date/Time
March 28, 2008 at 4:00PM
Location
Rockingham County Courthouse
Deposit$20,000
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 730 Virginia Avenue, Harrisonburg
By Scott Rogers  •  March 8, 2008     
730 Virginia Avenue, Harrisonburg
Property Characteristics
Finished SF
1,232
Circa
1947
Bedrooms3
Bathrooms1
Lot Size0.143 acres
 
Pricing
Original Amount of Deed of Trust
$159,205  (10/11/05)
Assessment: Land
$42,000  (2008)
Assessment: Improvements$123,400  (2008)
Assessment: Total$165,400  (2008)
 
Trustee Sale Details
Date/Time
March 20, 2008 at 10:00AM
Location
Rockingham County Courthouse
DepositLower of 10% or $15,500
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 1121 Rebecca Ridge Court, Harrisonburg
By Scott Rogers  •  March 5, 2008     
1121 Rebecca Ridge Court, Harrisonburg, VA 
Property Characteristics
Finished SF
2,400
Circa
1997
Bedrooms3
Bathrooms3.5
Lot Size0.234 acres
 
Pricing
Original Amount of Deed of Trust
$269,600  (11/3/06)
Assessment: Land
$80,000  (2008)
Assessment: Improvements$235,700  (2008)
Assessment: Total$315,700  (2008)
Most Recent Sale
$337,000  (11/3/06)
 
Trustee Sale Details
Date/Time
March 18, 2008 at 4:59 PM
Location
Rockingham County Courthouse
Deposit10%
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Daily News Record >> Getting Local With Real Estate
By Scott Rogers  •  March 5, 2008     
Dan Wright, Daily News RecordI applaud Dan Wright (pictured to the right), and the Daily News Record (DNR) for running some local stories on our real estate market, such as today's "Feeling The Ripples" article on foreclosures.

In contrast to today's story about our local market, the DNR will often run AP stories --- which are written from a national perspective, and about markets that are usually quite different than the Shenandoah Valley.

As a quick aside --- if it's not immediately apparent whether the article is local, check the "dateline" --- the city that precedes the article.

And yet, despite my excitement for seeing a local article today, I can't keep from commenting on a few interesting parts of this story . . .
  • The photo is a stock photo of a bank-owned home in Las Vegas. Apparently, even though foreclosures are really on the rise in Harrisonburg and Rockingham County, they hide themselves well, such that they can't be photographed. :)
  • The photo caption seems a bit backwards: "...The nation's housing bust has begun to be felt in the Valley, as well, sending local foreclosure rates higher." The "housing bust" is (partially) being caused by foreclosures --- I'm not sure I see how the housing bust would cause the foreclosures.
  • In the article, William Wood, an economics professor at JMU, states that "Housing prices had risen to a point that a correction was inevitable..." and later, "...the Valley's correction was not as painful [as other parts of the country]." I'm not sure what correction William Wood is referring to, as average sales prices continued to trend upwards in 2007.
Again, it is fantastic to see stories in the Daily News Record about our local real estate market, as the national AP stories often paint a very different picture than that which we are experiencing in the Shenandoah Valley.  Keep up the good work Dan!
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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 292 E. Riverside Drive, Timberville
By Scott Rogers  •  February 29, 2008     
292 E. Riverside Drive, Timberville, Virginia
Property Characteristics
Finished SF
913
Circa
1974
Bedrooms3
Bathrooms1
Lot Size0.256 acres
 
Pricing
Original Amount of Deed of Trust
$107,860  (1/26/06)
Assessment: Land
$24,200
Assessment: Improvements$73,100
Assessment: Total$97,300
Most Recent Sale
$135,000  (1/27/06)
 
Trustee Sale Details
Date/Time
March 11, 2008 at 8:15 AM
Location
Rockingham County Courthouse
DepositLower of $10,500 or 10%
ContactGlasser and Glasser, P.L.C.
757-321-6465
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 97 Blue Stone Hills Drive, Harrisonburg
By Scott Rogers  •  February 28, 2008     
97 Blue Stone Hills Drive, Harrisonburg
Property Characteristics
Finished SF
2,509
Circa
2005
Bedrooms3
Bathrooms3.5
Lot Size0.121 acres
 
Pricing
Original Amount of Deed of Trust
$247,200  (3/29/06)
Assessment: Land
$65,000  (2008)
Assessment: Improvements$233,600  (2008)
Assessment: Total$298,600  (2008)
Most Recent Sale
$309,000  (3/30/06)
Current Asking Price
$339,900  (2/27/08)
This property is currently for sale -- click here for details.
 
Trustee Sale Details
Date/Time
March 18, 2008, at 5:00 PM
Location
Rockingham County Courthouse
Deposit10%
ContactBierman, Geesing & Ward, LLC
301-961-6555
www.bgwsales.com

Per the Daily News Record, February 27, 2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 12173 Port Republic Road, Grottoes
By Scott Rogers  •  February 28, 2008     
Property Characteristics
Finished SF
900
Circa
1974
Bedrooms3
Bathrooms1
Lot Size0.459 acres
 
Pricing
Original Amount of Deed of Trust
$102,400
Assessment: Land
$25,000
Assessment: Improvements$74,600
Assessment: Total$99,600
 
Trustee Sale Details
Date/Time
March 18, 2008 at 4:59 PM
Location
Rockingham County Courthouse
Deposit10%
ContactBierman, Geesing & Ward, LLC
301-961-6555
www.bgwsales.com

Per the Daily News Record, February 27, 2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 1182 Portland Drive, Harrisonburg
By Scott Rogers  •  February 25, 2008     
1182 Portland Drive, HarrisonburgProperty To Be Sold:  1182 Portland Drive, Harrisonburg

Date/Time of Sale:  Friday, March 5, 2008 at 3:15 p.m.

Original Principal Amount of Deed of Trust:  $177,882

Assessed Value:  $193,000

Deposit:  $15,000 or 10% of the sales price, whichever is lower

For Information Contact:
Samuel I. White, P.C.
5040 Corporate Woods Drive, Suite 120
Virginia Beach, VA 23462
757-457-1460 (call between 9:00am and 11:30am)
ASAP# 993440

Per the Daily News Record, February 21, 2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 111 Middlebrook Street, Harrisonburg
By Scott Rogers  •  February 18, 2008     
111 Middlebrook Street, HarrisonburgProperty To Be Sold:  111 Middlebrook Street, Harrisonburg

Date/Time of Sale:  Friday, February 29, 2008 at 9:30 a.m.

Original Principal Amount of Deed of Trust:  $260,775

Assessed Value:  $260,400

Last Sale:  $274,500 (April 3, 2006)

Deposit:  $26,000 or 10% of sales price, whichever is lower

For Information Contact:
Glasser and Glasser, P.L.C.
Crown Center Building, Suite 600
580 East Main Street
Norfolk, VA 23510
File No. 61895
757-321-6465

Per the Daily News Record, February 18, 2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 80 Shotgun Spring Road, New Market
By Scott Rogers  •  February 12, 2008     
80 Shotgun Spring Road, New MarketProperty To Be Sold:  80 Shotgun Spring Road, New Market

Date/Time of Sale:  Friday, February 29, 2008 at 8:00 a.m.

Original Principal Amount of Deed of Trust:  $90,000

Assessed Value:  $130,300

Last Sale:  $66,500 (November 30, 2000)

Deposit:  10% of sale price

For Information Contact:
Bierman, Geesing & Ward, LLC,
attorneys for Equity Trustees, LLC
4520 East West Highway, Suite 200
Bethesda, MD 20814
(301) 961-6555
www.bgwsales.com

Per the Daily News Record, February 12, 2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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Foreclosure: 7110 Rocky Bar Road, Elkton
By Scott Rogers  •  February 11, 2008     
Property To Be Sold:  7110 Rocky Bar Road, Elkton

Date/Time of Sale:  Friday, February 22, 2008 at 9:00 a.m.

Original Principal Amount of Deed of Trust:  $92,800

Assessed Value:  $155,700

Deposit:  $5,000 or 10% of sale price, whichever is lower

For Information Contact:
Stephen B. Wood
Friedman & MacFadyen, P.A.
1601 Rolling Hills Drive, Ste. 125
Richmond, VA 23229
804-288-0088
Ref# 213234

Per the Daily News Record, February 6, 2008
Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).

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