Prices for beautiful old country estates low for a reason? (Richmond: house, purchasing)

[badger74]

At least Bedford in near civilization. But that looks rough. Here's done one. https://www.zillow.com/homedetails/7...08039798_zpid/

[Csonka]

Originally Posted by Ted Bear

Why?


Well, compared to California, for starters....


But then....


Old.


Cost a fortune to heat and cool.


Cost a fortune to maintain.


People with the money and interest in a similar home will build from scratch so they have a modern home, even if it "looks" like a classic.


Younger buyers have no interest in yesteryear. They want a new house with a smattering of crown molding, stainless steel appliances, and a granite countertop. Gives them something to brag about. Even if it falls apart in ten years. Tract builders LOVE these buyers.


Bottom line: money pits (antiques) which appeal to a limited selection of potential buyers.

great insights !!!!

thanks

[Csonka]

Originally Posted by badger74

At least Bedford in near civilization. But that looks rough. Here's done one. https://www.zillow.com/homedetails/7...08039798_zpid/

If I could have that house in a different area I'd do it in a heartbeat

surroundings look kinda cheap

[spencgr]

Originally Posted by Csonka

2) Updated kitchen. If yes, and yes to central HVAC, my hunch is the owners did quit a bit of new electrical work and added new gas lines.

Natural gas out to a large acreage property in the boonies? You've got to be kidding me. Never going to happen. Almost a 100% chance these houses all have oil heat. Perhaps someone may have put in a propane tank for cooking, but not for a whole house.


BTW, it costs me around $400/ month to heat a 2k SF home (only 85 years old) with oil heat in Virginia. I can't imagine the cost for some of those old drafty homes.......

[grouse789]

Originally Posted by badger74

At least Bedford in near civilization. But that looks rough. Here's done one. https://www.zillow.com/homedetails/7...08039798_zpid/

that's a sweet looking home, for those who want to be away from it all. Not cheap in my book, but most of the work was done already. Love the interior.

[Shabba Snacks]

[quote=gemstone1;58201744]

Originally Posted by Csonka

Here are two examples that are a fair representation of what I am talking about.

https://www.realtor.com/realestatean...-60726?view=qv

This one has been on the market for years, I recall seeing it listed at least 3 years ago., at the same price. It does seem to be a fantastic bargain.....like you, I wonder why ?

Regards
Gemstone1

Saxe is in Charlotte County. It is a VERY rural and poor county. I have been there many times I have no cellphone reception what so ever. It takes you 30 min on winding country roads to get to Halifax, VA and about 1 h to Farmville. Halifax and Farmville are hardly thriving areas either, but I am partial to Farmville.

[Shabba Snacks]

Originally Posted by mango_jade

Another example that makes my heart sing is this home. Unfortunately it sold in 2019!

https://www.realtor.com/realestatean...3_M69449-65303

Also another thing is that some of these homes have various restrictions because they are historic so if you aren't willing to restore them and maintain them to a particular standard set by a number of governmental bodies you shouldn't buy these properties. For example conservation easements are a great tax deduction tool but they also mean you cant divide up the land and sell it so that is limiting for many properties especially if they have tons of acreage. So that deters a lot of buyers and the property has to be priced to entice people willing to put up with the restrictions.

Well, that house is in Bedford, halfway between Lynchburg and Roanoke, so I am not that surprised someone bought it.

[Shabba Snacks]

Originally Posted by Csonka

Here are two examples that are a fair representation of what I am talking about.

https://www.realtor.com/realestatean...-60726?view=qv

https://www.realtor.com/realestatean...-41544?view=qv

Phenix, Virginia!!! I really think you need to visit these areas. I have been to Phenix many times. This is a very small and very poor area. I cannot remember if the Dollar General has closed down or not, but if you need milk or some bread you have to get it at the gas station, or drive 40 min into the town of Appomattox for Walmart or Kroger (This is not the kind of Kroger that has organic foods, a wide selection of Boar's Head meats or a Starbucks inside it.) More basic stuff though.

I am confident that your dream house is in Virginia, but while I am not trying to be rude or obnoxious, I really recommend you to familiarize yourself with rural south-central Virginia. Counties like Nottaway or Amelia might be a good fit too. A quick drive drive to Richmond to assess a decent airport.

[Shabba Snacks]

Originally Posted by badger74

At least Bedford in near civilization. But that looks rough. Here's done one. https://www.zillow.com/homedetails/7...08039798_zpid/

Nice looking house...and Glasgow isn't too far from Lexington (20-30 min).

Rockbridge County is interesting. Lexington is very affluent and a neat place to live or work.

The rest of the county (Glasgow, Buena Vista etc) I find very depressing.

[lionsgators]

not exactly where the poster is looking, but regardless of state, you can find large old homes on land for next to nothing when they are in the middle of nowhere like these.