Just received an email from the City of Roanoke Collections Office that there will be a judicial sale of delinquent homes on June 29, 2010 at 12:00pm.
Fitzpatrick Hall, Jefferson Center
541 Luck Avenue
Roanoke, VA 24016
I’ve been to a few of these and while the homes are usually distressed to some degree, if you’re a flip-it or fix-it-up type investor, you should be there. The sale is handled in an auction format with bidding, etc. Make sure to check out the terms, etc. for purchasing before you arrive.
Here’s the full email:
ROANOKE, VA – The City of Roanoke will hold an auction at noon on
Tuesday, June 29, at the Jefferson Center’s Fitzpatrick Hall for
approximately 22 properties that have delinquent real estate taxes,
assessments for weed and trash abatement, and demolition or board-up
costs. A listing of the properties is online at
According to state law, properties qualify for the Judicial Sale
process when taxes are delinquent on Dec. 31 following the first
anniversary of the date on which the taxes have become due. State law
also provides that any property sold during these proceedings is
purchased free and clear of all liens incurred by the owner or any
other party involved in the suit. However, all successful bidders
must meet the terms of the Bidder Qualification Program to ensure
that there are no unpaid taxes or code violations on other properties
that they may own. All sales are subject to Circuit Court approval.
“Despite vigorous collection efforts by the City Treasurer and the
Department of Billings and Collections, these property owners have
failed to pay their debts,” said Dana Long, Manager of Billings and
Collections. “Aside from the collection of delinquent taxes, fees,
and assessments, neighborhoods benefit from the tax sales by having
new, responsible owners who will properly maintain the property and
pay future taxes.”
To redeem any tax sale property, the owner must pay, in full, all
accumulated taxes, assessments, penalties, interest, and costs,
including all legal fees, by 5 p.m. on the day before the sale. The
listing of the tax sale properties is subject to change up until the
time of sale.
Additional information is located on the city’s website at
www.roanokeva.gov/taxsale. For more information call Dana Long at
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.
There’s a nice little foreclosure that just came on the market in the Woodhaven area of North Roanoke County. I’ve personally inspected it and although, as with most foreclosures, it does need some repair work, it’s a great value. Here are the vitals-
- 4 bedrooms
- 2 baths
- 1660 square feet
- Full basement
- Huge deck in the back yard
- Tile floor in kitchen
- Central air
- Forced air gas heat
And here’s a foreclosed town home also in the North Roanoke County area. It’s vitals are-
- 4 bedrooms
- 2.5 baths
- 1924 SF
- Full basement
- Central air
- Forced air gas heat
Call me for a personal tour of either of them or to answer your foreclosure questions!
You see it on the news, cable television and infomercials-
Buy foreclosures at pennies on the dollar! Save big money in real estate investing with foreclosure short cuts!
I regularly sell and help people purchase foreclosures in the Roanoke Valley and surrounding counties. With all this experience I’ve learned a thing or two! Here’s the real skinny folks and a few things you need to know before thinking about buying a foreclosure-
- Foreclosures are often a very good deal but not the kind of deals you see on TV.
As an agent who regularly markets, services and sells foreclosed homes in the Roanoke area, I understand the process and while it is a foreclosure, the bank who owns it is trying to keep from losing as much money as possible. They do not sell for pennies on the dollar.
- Foreclosed homes generally are in fair to poor condition.
It’s unfortunate; the people who lose their homes to foreclosure do so because they can’t afford their payments and therefore also can not afford to upkeep the house. Foreclosed homes almost always have maintenance needs and sometimes major maintenance problems.
- Foreclosed homes are sold “as-is”.
The financial institutions who own these homes know they have problems and they aren’t going to spend time negotiating over carpet stains or damaged tiles. Before a foreclosed home is ever advertised for sale, it has gone through a rigorous valuation market analysis with the listing agent and other real estate agents who take these problems into account when suggesting a fair list price on the home. Hire a home inspector so you are less likely to be surprised with a problem after closing. Caveat Emptor!
- Negotiating with the bank on a foreclosed property is almost the same as a private seller.
Low ball offers and unreasonable expectations are likely to be quickly rejected by the selling bank the same as you would on your own home. They are reasonable negotiators but not desperate.
So there you have it. A few tips from an experienced foreclosure agent. With all of that said, foreclosed homes are still a good deal and typically priced below the actual market value, and, the longer it’s been on the market, in most instances, the better the deal for you. Be smart though and consult with an experienced agent before buying any home, foreclosure or not.
Here’s a great Botetourt County ranch home, HUD foreclosure, ready for a quick flip or new home buyer.
This home features 3 bedrooms and 2 full baths. The master bedroom looks onto the backyard (see photo) and has its own private master bathroom with bathtub! Ceiling fans in the rooms and an enormous dining room and kitchen with newer cabinetry and counter tops really provide room to entertain your guests!
The exterior features a large 2-car garage with garage-door opener, and back-door access to the garage. The yard is 0.5 acres with views of the surrounding woods and mountains in Botetourt County.
Foreclosed real estate in Botetourt County like this doesn’t come around every day and is a real steal at only $160,000. Call me today before it’s gone!
This Botetourt County real estate has been sold.
This foreclosure in northwest Roanoke was a great deal for the investor who purchased it. I sold it for only $47,000!! Can you believe that? Foreclosing banks and the government are eager to get rid of their inventories.
There are many many foreclosure deals like this to be had in Roanoke. Why don’t you contact me to receive a regularly updated list of deals?
DUPLEX FORECLOSURE SOLD
One of my regular investment clients recently purchased this duplex in SW Roanoke City. It appears the previous owner was attempting a remodel job when they were foreclosed on, saving my investment client some time and money.
This duplex foreclosure features 2 units with 2 bedrooms and 1 bath each with kitchens and baths.
The duplex also features a full basement for tenant’s storage and a walk-up attic that could be remodeled into an efficiency apartment. Quite the bargain with a sales price of around $57k.
Are you out there looking for deals like this? Contact me for more info and to be added to my regular foreclosure listing email!
My two most recent home sales in southwest Roanoke.
The first house is 609 Elm Avenue SW sold to an investor who plans to refurbish the home to either rent or possibly resale at a later date.
The second home is a foreclosure in southwest Roanoke. This investor picked up a solid deal on this home that, although it needs moderate repairs, will turn him a good profit when he decides to sell it.
If you’re interested in foreclosed homes for sale in or around the Roanoke Valley, please feel free to contact me to be added to my list of investors and buyers. I regularly email my list with new and upcoming Roanoke and Smith Mountain Lake foreclosures.
I have a list of current REO properties available for sale and soon to be available homes.
Find out about foreclosure homes before they hit the market by contacting Roanoke real estate agent Marty Martin.
If you didn’t already know, I sell a lot of foreclosed homes in Roanoke. Through relationships I have developed with lenders serving the Roanoke Valley, I am one of a few agents in the area who is consistently retained to service these real estate foreclosure opportunities.
I received word from one of my best asset managers today that they will be putting quite a few properties up for auction very soon. What does that mean for the opportunistic foreclosure investor? It means the REO (foreclosing) banks don’t want to have to go to auction, they’d rather sell quickly! I understand they will be accepting even lower offers than before in an attempt to avoid the auction process. The only bad part is the deadline for these deals is May 1st and only applies to properties on the market for a longer period of time!
If you’ve been thinking of investing to flip or rent a foreclosed home in Roanoke, now is the time to give me a call (397-0014) for a complete list of affected homes.
This foreclosed farmhouse in Floyd County was sold to a buyer who relocated to the area from Virginia Beach. He found this real estate website and contacted me about a previous Floyd County home I had for sale. Unfortunately that home was already sold but I was able to find this great deal in Copper Hill.
Originally listed for $129,900, I was able to negotiate with the foreclosing bank on his behalf and secure the property for the unbelievable price of $95,000. This Floyd County farmhouse features 1.56 acres of real estate, a great farmhouse for country living and the peaceful surrounding that is Copper Hill.
UNDER CONTRACT IN 1 DAY!
This great home isn’t going to last. I bring you another foreclosed home for sale at the unbelievable price of $129,900. I completed a market analysis on this property for the seller well above this opening price. They want it to move!
This home is in great condition with beautiful hardwood floors, replacement windows, nicely painted rooms, screened in porch, FOUR bedrooms and two and a half baths! A spacious fenced-in backyard is great for the kids, pets or anyone who just loves a fenced-in yard! This home also features garage space for two cars and a work area with storage as well as attic storage in the garage! A beautiful brick wall trims the driveway.
This foreclosed home is in a southwest Roanoke County neighborhood that is convenient to Electric Road, Grandin Court and Brambleton Avenue. This house isn’t going to be available long at this price so check it out now!
Priced to sell at $129,900. More pictures of this great Southwest Roanoke County home available by clicking link below. Read more