Driving through town this afternoon, I ran across this sign …
First, the size of the sign was shocking, but then when I looked at it further I realized I had never seen one of 
these in town before … at least, not since I started in real estate nearly five years ago. Has the foreclosure wave finally hit Blacksburg?
I doubt it.
We’ve seen foreclosures in other areas of the New River Valley, and it’s not necessarily an unusual occurrence. Why won’t this home sell?
- 4 bedrooms, 3 baths, 2304 square feet
- built in 2000
- hardwood and tile floors
- gas fireplace
- full walkout basement
- Mountain views
I don’t have the answer about why the home hasn’t sold. When it was listed, it was listed for $350000.
That’s not a bad price, and I listed and sold the house directly across the street for $355000. Seems like a good value, what’s the problem? But if you’re interested in taking a look, let me know and we’ll go together.
Of course I’m optimistic – there’s a lot to be thankful for here, and the signs indicate there’s more to come. It’s a wonder you ever decided to leave the New River Valley!
I don’t have accurate figures on how long the home was listed for. MLS shows it was listed for 160 days, but then it was For Sale By Owner for a while as well, so I’d venture to guess AT LEAST 200 days at a minimum. It’s a bit of an anomaly – you’re right, most of the time the signs of a foreclosure are apparent. Unkempt yards and homes, signs of distress … that sort of thing. This one’s completely different, but it just goes to show it can happen anywhere to anyone. You’re dead on … it’s not indicative of the market but of borrowing habits. Responsible personal spending …
Good comment. When are you moving back to Blacksburg?
Your optimism around Blacksburg real estate is impressive. How long was this house listed for? I see foreclosures as not indicitive of the local housing market but of people’s borrowing habits. On another note, I’ve found foreclosed homes to often be in worse shape than “regular” listings since the people have more motivation (and cash) for upkeep. No “the bank will take it over” option.
Your optimism around Blacksburg real estate is impressive. How long was this house listed for? I see foreclosures as not indicitive of the local housing market but of people’s borrowing habits. On another note, I’ve found foreclosed homes to often be in worse shape than “regular” listings since the people have more motivation (and cash) for upkeep. No “the bank will take it over” option.
Of course I’m optimistic – there’s a lot to be thankful for here, and the signs indicate there’s more to come. It’s a wonder you ever decided to leave the New River Valley!
I don’t have accurate figures on how long the home was listed for. MLS shows it was listed for 160 days, but then it was For Sale By Owner for a while as well, so I’d venture to guess AT LEAST 200 days at a minimum. It’s a bit of an anomaly – you’re right, most of the time the signs of a foreclosure are apparent. Unkempt yards and homes, signs of distress … that sort of thing. This one’s completely different, but it just goes to show it can happen anywhere to anyone. You’re dead on … it’s not indicative of the market but of borrowing habits. Responsible personal spending …
Good comment. When are you moving back to Blacksburg?