Thursday, December 18, 2008

935 Belmont Avenue - "Free" Rent

We first looked at 935 Belmont last May, when the price was $375K without the yard.

Now, after more than a year on the market, the price is $275K without the yard, which goes for an additional $125K.

The house needs extensive renovations. So now it's available for "free" rent--if you're a drywaller. In all seriousness.

Q: Why hasn't the price dropped further?
A: Seller doesn't need to sell. And must believe the market will come back.

MLS #453087
3 Bedrooms, 1 Bath
1,332 Sq. Ft.
Year Built: 1925
Acre: .09


Anonymous said...

We have been in town for 5 years now, and we have always been curious as to what prices would be now if they had followed the normal 3-4% traditional appreciation. Any ideas? It seems that for housing in downtown Cville to come in line with current wages they would have to drop by way more than 17%, or am I skewing my math?
- Curious -

Real C'ville - The Bubble Blog said...

You're not skewing your math. We're preparing a post on this that will give some kind of answer, working w/the data we have....

Anonymous said...

That's a $100K house. At most.