Friday, April 24, 2009

Spence, Goldschmidt, Church Hill Development: More Foreclosures

This isn't the first time these names have appeared in The Hook's Property Auctions column since last October's $3.5M worth of foreclosures. Will this be the last time?

April 24 at 3:45pm at the Albemarle Courthouse

Property: Lot 6 Murray Dick Woods Road
Debtor: Church Hill Development Co., James B. Spence III, Joshua A. Goldschmidt
Amount owing: $200,000
Bidder brings: $20,000 or 10 percent sale price
Info: Samuel I. White PC 757-457-1460

Some properties that went into earlier foreclosure:
  • Three homes at the Belvedere development off Rio Road in Albemarle County.
  • Seven vacant sites and two houses in the Wickham Pond development in Crozet. The Wickham Pond properties are assessed at a total of $990,000, according to tax records.
  • A $479,900 house under contract in the Old Trail development in Crozet.
  • In Charlottesville, two of Church Hill’s condominiums are facing foreclosure. One property is a $599,200 luxury residential unit in the ACAC complex on Monticello Avenue.
  • The other condo, assessed at $732,000, is in the same building.
  • The Fluvanna County foreclosures include two 4-acre vacant sites in the Centre Hill Estates development, as well as two small vacant sites and one house in the Fox Glen development.
  • The Greene County foreclosure is a lot in the Water’s Edge at Lake Saponi neighborhood and is assessed at $126,000.
Related post.


craigger said...

does anyone know who bought the previous foreclosed properties?

Greg Slater said...

At Belvedere, one home was u/c and the sale was completed. Another is u/c and will close soon. Both to owner occupants. The third is on the market for $375k. Its open on Sunday afternoon.

The two homes at Wickham have been sold to owner occupants. There are lots owned by a couple of banks now that are available for purchase.

The sale in Old Trail was completed to the owner occupant purchaser.

The residential condo downtown is for sale and I think the commercial condo is still for sale too.

There are two small homes in Fox Glen that are now being completed by Southern Dev Homes and are on the market. I do not know the disposition of the Centre Hill lots.

I don't think anything has happened with the Waters Edge lot and the bank probably owns it now.

ITBH said...

Greg, wondering how you work with someone who has the same designation as REALTOR as you do who has made such incredibly bad financial decisions? How is it possible the trade association overlooks this?

Also I recently read in the Sold column in the Hook that one of these guys unloaded a property for more than a million in Glenmore/Keswick. Sorry can't find the link. But it was in the past few months. How is this possible when one/both owe so much? DBA as an LLC? or something like that?