Friday, July 24, 2009

Missing Glenmore Treasurer Michael Comer's Home For Sale

The props owned by the missing Glenmore ex-Treasurer / Country Club prez and his wife are newly listed this week. The representation is handled by agents from Real Estate III, where Comer's brother-in-law, Jeff Gaffney, is CEO.

The Comer's family residence is at 2930 Milton Village Lane--not in the Glenmore subdivision.

MLS 467792 - $1,348,000 - 4 bedrooms/3.5 baths 4,800 sq feet, built in 2005.

It's described as one of the "first Earth Craft homes in Cville" and "horse suitable w/5.28 acres." It's convenient to Stone Robinson Elementary, the Clifton Inn, Keswick Hall, and downtown Cville.

The house was purchased in '05 for $1,030,800. That's an expected return of $317K in a market where higher-priced sales are stagnating. Assessed at $1M.

Also offered is a single family home at 3803 Richmond Road in Keswick.

MLS 467873 - $425,000 - The house has 2 beds and 2 baths, 2081 sq. feet on 2 acres, built 1987. The house was purchased in '08 for $250,000, or an expected return of $175K.


The listing:

"This wonderful home is located just 5 minutes from town and is situated on 2 level and manicured acres of land. Spacious with an open floor plan, new carpet, freshly painted, new front porch, new laundry and large covered rear deck. Large two car garage has room for 4 vehicles."

$317K + 175K = $492K...not quite $666K.

Related Reading: Glenmore Associates, the subdivision developer, will now have their own audit.

3 comments:

Anonymous said...

Mr. Gaffney must be taking these listings as a favor to the family. A Realtor would have to be certifiably insane to list these properties at those prices otherwise.

dave said...

It is truly shocking that realtors actually are listing these properties at this price. The realtors must have a reality check.

They should read this article. http://www.housingnewslive.com/housing-market-crash-in-us.php

Anonymous said...

This is absurd. They must know that these homes won't sell at these prices.