Opportunity
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Foreclosure: 2437 Mosby Court, Harrisonburg |
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Property To Be Sold: 2437 Mosby Court, Harrisonburg, VA Date/Time of Sale: January 3, 2008 at 3:00 p.m. Terms of Sale: A deposit of $10,000.00, or 10% of the sales price, whichever is lower, cash or certified check, will be required at the time of sale with settlement within fifteen (15) days from the date of sale. For Information Contact: Samuel I. White, P.C. (41925-07/CONV) 209 Business Park Drive Virginia Beach, Virginia 23462 (757) 457-1460 Call between 9:00 a.m. and 11:00 a.m. Original Principal Amount of Deed of Trust: $100,400 2008 Assessment: $125,800 Comparable Properties For Sale: http://millwood_condominium.scottprogers.com Per the Daily News Record, December 29, 2007 | |
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Harrisonburg High-End Real Estate Market |
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Each month I run the same series of calculations to determine how supply and demand relate in several price ranges --- less than $200k, $200k - $350k, and $350k and up. At the start of December, there were 20 months of supply of homes priced $350,000 and up. One of my readers posed the question of whether there might be more of a story to tell in what could be a very large price range --- $350k and up encompasses many hundreds of thousands of dollars. So, let's take a look --- please note, I updated the "Available" numbers to reflect current availability.
So --- it is somewhat interesting --- there are only 17 months of homes priced between $350k and $600k --- and a whopping 61 months of homes available priced above $600k. But to give the $600k+ homes a fair shake, let's make sure September, October and November weren't unusually low sales months. From January 2007 through November 2007 (inclusive), there were 16 sales of homes above $600k. This is 1.45 sales per month --- which would make the current inventory (43 homes) equivalent to 30 months of supply. Better than 61 months --- but this is still the most oversupplied price range by far! | |||||||||||||||||||||||||||||
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Still Looking For The Perfect Gift Idea?? |
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![]() Consider buying your loved one a house --- with a large supply of homes in our area's upper price range ($350k +), you will have plenty of selection, and may be able to land a great price on a very valuable gift! Looking for the best deal? Some might suggest that the longer a home has been on the market, the more flexible the sellers might be on price. Here are the "best buys" in that regard . . .
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A Great Townhouse Opportunity! |
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![]() In the past six months, 15 two-story townhomes have sold in Beacon Hill at an average price of $159,786. This townhome is priced at $148,000 --- thus providing a $12,000 margin. Please note, work is needed to bring this house up to a similar condition as the comparable sales. The two key factors to making this a great opportunity are: 1. Whether the buyer can do most of the work themselves. 2. The degree to which the seller will negotiate the price down below the asking price. If the eventual buyer will live in the house themselves and do most/all of the work themselves, they will only have the cost of materials for the repairs to be completed. Furthermore, if the seller can be negotiated down further, there will clearly be even more of an opportunity. Are you interested? Know of someone who is? Be in touch . . . 540-578-0102. scott@cbfunkhouser.com. | |
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Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
Licensed in the
Commonwealth of Virginia
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