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Bank Owned

Real estate owned by a bank or lending institution. Also known as REO. These are usually properties that served as collateral for a mortgage or commercial loan. Bank owned properties are often referred to as foreclosure(s), but that's a misnomer. They are "post-foreclosure(s)" as the bank or lending institution secured ownership during a foreclosure process.

3241 Holly Road Connelly Springs NC 28612

August 19, 2011 By

SOLD

Unfinished remodeling project for a 4BR/3.5BA home.  Upstairs has 2 original bedrooms (one with private balcony) and a shared bathroom.  Main floor has a partially completed: kitchen, dining and living room, plus framing and roughed in plumbing and wiring for proposed renovations.  Full basement has partially finished: den/game room, bedroom, bathroom, utility room, and closet spaces.  .48 acre lot at an elevation of approximately 2100 feet, gentle slope, super long range views, paved circular driveway, detached two bay garage and workshop plus a large bonus room above it.  Located in Pine Mountain Estates, a gated golf course community adjoining South Mountains Sate Park. Area amenities include: 18 hole golf course (open for play year round), miles and miles of scenic roads and trails for hiking, biking, and equestrian activities, designated trout waters, camping, guided park programs, and more.

Listing Price: $59,900
Address: 3241 Holly Road
City: Connelly Springs
State: NC
ZIP: 28612
Subdivision: Pine Mountain Estates
MLS #: 9560710
Square Feet: 3096
Bedrooms: 2 +
Bathrooms: 1 +
Acres: .48
Year Built: 1973

Tax Value: $96,963
HOA Fees: $246.50 Per Quarter
Elementary School District: George Hildebran
Middle or Jr. High School District: East Burke
High School District: East Burke
2011 Tax Bill Amount: $670.74
HOA Fees Pay For: Water, Private Road Maintenance, Gate & Security, Taxes & Insurance For Common Areas, Dumpster For Household Garbage

 

 

Associated Documents

Click on the links below to download PDF copies of:
Seller’s Agent Disclosure
Pine_Mountain_Estates_By-Laws
Owners’ Association Disclosure & Addendum
As Is Addendum
Lead-Based Paint or Lead-Based Paint Hazard Addendum

 

Listing information courtesy of Pless Realty Services (828) 326-8822.

 

Filed Under: Real Estate Tagged With: , , , , ,

Bank Owned (REO) Market Share Analysis

May 1, 2011 By Leave a Comment

Let’s take a look at bank owned market share.  The sales data analyzed is from the Multiple Listing Service of Catawba Valley (MLSCV), and was current for the year to date on April 29th, 2011.  Projections are based on pending homes sales.

Alexander County

In Alexander County there have been $6,302,425 spent on homes sold through the MLSCV.  21.77% of the dollars were spent purchasing bank owned homes.  This is the lowest percentage in the area.  The data suggests the banks will gain market share in Alexander County in the second quarter of 2011.

Market share year to date: 21.77%.  Projected market share in the second quarter of 2011: 31%.

Catawba County

In Catawba County there have been $35,199,005 spent on homes sold through the MLSCV.  23.79% of the dollars were spent purchasing bank owned homes.  This is the second lowest percentage in the area.  The data suggests banks will lose market share in Catawba County in the second quarter of 2011.

Market share year to date: 23.79%.  Projected market share in the second quarter of 2011: 14%.

Caldwell County

In Caldwell County there have been $13,841,910 spent on homes sold through the MLSCV.  32.81% of the dollars were spent purchasing bank owned homes.  This is the second highest percentage in the area.  The data suggests banks will gain market share in Caldwell County in the second quarter of 2011.

Market share year to date: 32.81%.  Projected market share in the second quarter of 2011: 49%.

Burke County

In Burke County there have been $4,687,225  spent on homes sold through the MLSCV.  41.63% of the dollars were spent purchasing bank owned homes.  This is the highest percentage in the area.  The data suggests banks will gain market share in Burke County in the second quarter of 2011.

Market share year to date: 41.63%  Projected market share in the second quarter of 2011:  48%

 

The opinions expressed here are strictly those of the author, and do not represent the opinions of the Multiple Listing Service of Catawba Valley, Inc..

Filed Under: Market Analysis, Real Estate Tagged With: , , , , , , , ,