Thursday, May 19, 2011

Bundoran Farm Foreclosure Relisted By Bank for $2.3M

1701 Bundoran Drive
MSL #488824
7 bedrooms/5 baths/2 half
55 Acres, ca. 1952


Upper Bundoran, the manor house at the Bundoran Farm "preservation development" trying to get going amidst s/low local and nationals sales is relisted for $300k less than what the previous underwater owner hoped for.

(See Albemarle County's declining home prices and data on the Charlottesville Area real estate market).

The April 18 foreclosure auction on the steps of the Albemarle County Courthouse unloaded the 6,500 sq ft house built in 1955 sitting on 55 acres.  The house held a $3.1 Million mortgage and had been for sale for $2.6 M, and  went back to the bank for $2,033,000. 

"Nobody bid $2,034,000," said attorney Bill Schmidheiser, the foreclosure rep.  "I was surprised," according to The Hook's after-auction coverage.


Image copyright CAAR.

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