Tuesday, May 19, 2009

Probable Foreclosure on Briarcroft Road






I drove down the entire road, and this is the only property that was in anywhere near this state of disrepair. No "for sale" sign, but there is a paper taped to the back door's window. I didn't drive up the driveway to read it, though. The grass is about a foot and a half or so high, the roof has some problems that need to be looked at immediately, and the shrubbery is way overgrown, but it looks like a great investment, but not at the listed price, which I think is way too high.

Seems to me that I first encountered this FC back a couple of years ago, when the real estate house of cards began coming down, and this property was listed as an auction, along with some beach property down in Rehobeth, owned by the same pair, a couple of real estate agents/realtors. Then the property was either sold or the abck taxes or whatever were paid and it went off the radar.


Here's the listing, from Yahoo RE (REO or Real Estate Owned means that the bank owns it now):

Briarcroft Dr
Oxford, PA 19363

$379,496
Bed(s):
3
Bath(s):
3
Foreclosure Status:
Real Estate Owned
Sq/Ft:
-
Age (years):
-
Date listed on Yahoo!:
April 25, 2009
(23 days ago)
Register to see more details
Description
This property is an REO (Real Estate Owned). This is the final step in the foreclosure process. Ownership has reverted to the lender. This 0 square foot property has 3 bedroom(s) and 3 bath(s). The estimated sale price is $379,496.00.

What you cannot see from the photos is the roof, which has some missing or moved shingles, probably from the recent wind storms. I have to say that 380 thousand seems like a pipedream at this point. If there is water damage from the roof problem, then this place won't be worth half that price. My guess is that this place will sit until the price drops to around a quarter of a million.

Got some info recently, too, about the Rocky Glen FC: the owners are still living in it, so I am not going to grab any images. I hope they can get things straightened out.

I think that the Lewisville Road FC is catty-corner across from the antique place at the end of Hickory Hill and Lewisville, right by Matteo's Pizza and that garage. As a matter of fact, I think it is right beside that garage, which we have used and is a nice place, FWIW. The potential FC is a prefab/manufactured housing, I think, and, you'll recall, is listed at like 50 grand. Big difference between these two FCs, huh?

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