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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.

3190 Holly Road Connelly Springs NC 28612

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Elevation 2000 feet: Chalet featuring panoramic views of the South Mountains and Catawba Valley.  Entertain on the full wrap-around deck or move it inside and enjoy the game room /bar area. Interior features include two fireplaces, a spacious master bedroom, recently installed French doors, new kitchen counters.  Move in ready can be purchased fully furnished.  Situated amidst hundreds of acres of pristine woodlands, Pine Mountain Estates is a gated golf course community adjoining South Mountains State Park.  Area amenities include; 18 hole golf course, designated trout waters, miles of scenic roads, hiking, biking, and equestrian trails, guided park programs and more.

Listing Price: $149,900
Address: 3190 Holly Road
City: Connelly Springs
State: NC
ZIP: 28612
MLS #: 9563183
Square Feet: 2088
Bedrooms: 4
Bathrooms: 2
Acres: .51

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3241 Holly Road Connelly Springs NC 28612

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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
MLS #: 9560710
Square Feet: 3096
Bedrooms: 2 +
Bathrooms: 1 +
Acres: .48

 

 

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.

 

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Bank Owned (REO) Market Share Analysis

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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..

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