Bank Sale

Originally uploaded by In Shaw

I don’t know a thing about this house, but whoever listed it, listed the location as “Truxton Circle” and because of that, it’s gettin’ featured on the blog. This bank owned foreclosure @ 119 Bates St is (when you throw in a 100 dollars) $300K. It’s been on the market almost 90 days. And I’ve got an oriental runner bigger than that front yard. But hey, it’s a yard with a southern view.
There are several bank owned houses in the hood, but they don’t seem to be moving quickly. Someone mentioned one reason why, people won’t leave. Well in one instance. I don’t know how widespread it is. I’ve also heard that banks are slow as molasses at moving on offers and are still too focused on how much was owed for the property as opposed to the amount someone is willing to spend to take said property off the bank’s hands.
But the bank is no different than other investors or people who are trying to sell remembering too fondly the prices of yesteryear. But the market has changed. There are too many great looking deals out there. If I weren’t broke….. Yeah, I daydream about selling the crumbly pile of bricks and buying another (but larger with a bigger yard) crumbly pile o’ bricks fixer upper. But not now. I’ll wait for the next downward cycle.

3 thoughts on “Bank Sale”

  1. Those circle decorations may have originally sported louvers, the idea having been to vent the crawlspace attic. Often those were filled in/covered over later.


  2. that place has been on the market for months and months. maybe almost a year, maybe more. i’ve been thinking about it whenever it crops up on my occasional neighborhood real estate searches. i hear it is –or was–a rooming house–and needs tons and tons and tons of work. i like the big deep bates rowhouses and wish someone would buy it who could fix it up and love it. –molly

  3. The person who buys this house will have a great backyard neighbor…ME! I don’t think that it has been on the market for a year, but it has been many months for sure. Yes it was indeed a rooming house. Occasionally from my kitchen window, I see people snooping around it, sometimes taking pictures. One young couple with a baby looked at it 6 weeks ago. Currently the only occupant is a rat I sometimes see running to a nearby trashcan for dinner.

    Shane of Shaw

Comments are closed.