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house for auction on Broad Street
01/12/2009 7:37 PM by John M
3003 East Broad Street goes up for auction on Tuesday, January 13th, 2009 at 11:30AM.
From a Motley’s flyer I received today:
3003 E. Broad Street
Richmond, VA 23223
Auction On Site 11:30AM
3,166± SF Duplex with New Roof
2BR/2BA Unit with 3rd Floor Office
1BR/1BA First Floor Unit
If you haven’t been to an auction and you are going to be around there tomorrow about that time, check it out. Even if you are not interested in buying the house, calling auction is really a fascinating talent those guys have.
I always have trouble not laughing, for some reason. Then for a couple weeks after I go to one, I drive everyone I know crazy by trying to talk like that.
Worth seeing.
Ooh! And it’s cool that the site has tons of interior shots, too. Just noticed that.
This should be fun!
Shannon, is this truly a bankruptcy auction, or just an auction to get marketing attention?
Tax records say it is bank owned by foreclosure from November, 2008 for $185,000. Assessed at 308. Actually looks like that house has been foreclosed on twice in the past two years. Wow. I’ve never seen that before.
About marketing attention – auctions have become kind of popular as a means of gathering attention for properties. I say, whatever works to bring the right buyer along. Some auction companies cooperate with agents, too. One of the main auction house guys came and gave a talk at my office not too long ago, and it was cool to hear him explain the process.
I like the idea, personally. It’s grassroots and old school. And kind of hardcore, too. Buyers can’t waffle around at an auction, and they have to know how to recognize a good house without formal inspections. Plus, the goofy side of me loves the theatrics.
Is this the house where the guy had the “Repent Richmond” signs in the window up until the fall?
If anyone is interested in bidding on it there are a couple things you need to know. In speaking with the bank I found out that the roof had been leaking for some time and there was a good deal of water damage. I recall that drywall had to be done. I pulled up the records and NO permits have been pulled, demo, etc. Just go in with your eyes open if you plan to bid. Good luck!
The site says it has a new roof. Bring your ladder.
For anyone interested – sold for $150,000.
“Great deal of water damage” = it was a wreck. I’d seen it from the inside a number of times.
Thanks for following up, it was interesting to find out more about this.
I called the bank (small Petersburg bank)that owns it a month or so bsck. At the time said that they were “hoping” to get $239,000 for it. Thanks for the update Shannon! I hope who ever bought it turns it around for the good.
What a bargain! Good gracious, it’s been a long time since I’ve seen prices like that in good areas of the city. Congrats to the new owner.
You are welcome! I have had a strange attraction to that house for a while, and it was fun to be a cub reporter for a day.
Wow–pretty sure we looked at this house back in ’97 when we first started house hunting in Church Hill. IIRC it was about $120K then. More than we could afford at the time, and too much house for us too—good thing, cause it sounds like it would have been a real money pit.
In response to John Vetrovec’s question: yes, this is the house with the Repent Richmond signs. I think the neighborhood would really lose something if the Armegeddonist left, so I’m hoping he’ll get to stay on. And someone correct me if I’m wrong, but I believe that during the auction one of the tenants was actually standing on the porch. At one point the auctioneer broke off his rattling to ask him how much he paid in rent. It reminded me of the beginning of James McPherson’s “Crabcakes” memoir.