Why has this house been on the market for so long? Is it because it's on a very busy road?

Asked by Tara, West Hartford, CT Tue Dec 30, 2008

This question is about this property: http://www.trulia.com/property/28814428-2298-Albany-Ave-West…

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Amanda Albert, Agent, Woodbridge, CT
Tue Dec 30, 2008
This house is a short sale on its way to be a foreclosure. Short sales can take up to a year to complete if at all, so that is your reason. If you can wait, it could be a good deal. My suggestion would be to call the bank directly, ask when the foreclosure is scheduled for and then buy directly from the bank. This is called an REO.
It does take extra time and effort to go after an REO, but it could be a nice investment.

Good luck to you...
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Laurie Murray, Agent, West Hartford, CT
Tue Dec 30, 2008
Tara-- I'm sure that's the reason because the house is really nicely done inside-- hardwood floors, central air conditioning, newer roof, new H20 heater, remodeled main bath, & adorable balcony off the master bedroom. I sold this house back in 2006 (I was the listing agent) and the biggest obstacle for buyers who looked at it then was the busy street. The house has many updates and shows well, so if you don't mind a high-traffic location, then you could get a great buy since it is a short sale property. (It sold for $245,000 in September of 2006). Please give me a call if you'd like to take a look-- I'd be happy to schedule an appointment (860) 212-8305. Laurie Murray, Keller Williams Realty
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Jessica Bega…, Agent, Avon, CT
Tue Dec 30, 2008
While I haven't seen that house personally, I have driven past it many times and I'm sure that's a factor. However, if you don't have an issue with a busy road, it might be worth exploring further.
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