House On The Hill (Pix Heavy)
Throughout the summer I've had several requests for updates on our "House On The Hill" saga. Yes, there's been movement & progress. We've located the trustee responsible for servicing the property. Whew, what an ordeal that was!
In January '07 the house was listed @ $850K as a fire sale by the owner/flipper. We first 'discovered' the house early Feb. '07 & the builder had lowered the price to $759K. (There might have been a price between those two...frankly, I can't even remember it's been such a mess!) I won't repeat the entire story but by the time of the foreclosure sale (June '07) but before the AHM bankruptcy filing the price was somewhere around $650K.
We were at the auction with a $60K check but the attorney conducting the sale didn't allow us to bid. Ahem. We spent the next 12+ months trying to locate the owner when the lender went toes-up a week after the auction. There was a heated but polite & fun conversation here on the forum about us possibly resorting to adverse possession.
We are now in the $459K range & it'll go much lower. There's no CO on the house. The town is playing it close to the vest as to whether they'll even issue a CO. The builder/flipper pulled permits but never called for any inspections. The house was built circa 1825. Major renovations were done by the builder/flipper (also a source of great debate here on the forum).
Anyway, just thought some might like to know what's going on with the property. We're getting closer...our goal is $200K-$225K...basically site value. This property has certainly tested our patience! We still feel it has tremendous potential but we have to get that price down so if it takes $300K-$400K to get the CO the deal still makes sense.
Time is on our side & we're in no rush, thank goodness. If we can't make a deal before the Holidays that house will sit thru another New England winter empty. Come spring, we'll be back...but at closer to $150K-$175K.
Here's some pictures of the inside:
This is from the kitchen looking through the first floor showing the infamous pillars we discussed here on the forum. There are 3 rooms to the right of the pillars (2 with fireplaces). On the left is a 1/2 bath & a weird empty room about the size of a half bath (nothing in that room). The bowling alley affect is quite dramtic in person but, again, decidedly not c. 1825! Yet, all of the trim, windows, doors, fireplaces, etc. remain intact.
Here's a couple shots of the kitchen that in no way matches the aesthetics of a c. 1825 house but is very nice, if too dark for my tastes.
There's a fireplace in this room. We'd use it as a TV area.
Here's the window in the master bedroom we talked about here. Also very un-1825'ish. Ahem.
I have lots more pictures but I know it's gets hard to load for some people.