Upcoming foreclosures for sale
I have two foreclosures that will be on the market soon. They are vacant and being evaluated now for pricing but I wanted to give everyone a heads up if you or someone you know may be interested.
The first foreclosure is in Blue Ridge (Botetourt County) in the Rainbow Forest area. It is a 3 bedroom, 3 bath ranch with a full basement (50% finished). The basement has a fire place and the kitchen in this home is enormous. It also has a two car garage and is at the end of a cul-de-sac just off of Mountain Pass Road. Price to be determined but it’s sure to be a bargain in this popular neighborhood. A few minor repairs and it’ll be a show place. (This property is now for sale. See it here.)
The second foreclosure is in NE Roanoke City in Read Mountain Estates off of Old Mountain Road. It is a 4 bedroom, 2 and a half bath Colonial with nice level yard and great landscaping. It features skylights, walk-in closets, a large island in the kitchen and a quiet dead end street in another popular neighborhood. The price on this home is also to be determined but no doubt it’ll be a bargain too. The last foreclosure I sold in this neighborhood sold for way below the market value.
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The foreclosures are still running strong all around the country. They probably will continue, especially in the speculative area of Southern California, Florida, Nevada and Arizona. Until we find a bottom, which i hope we are getting now. The equity declines are too big for many people in those markets of 60% drops to hold on.