New beginning on Old Fields?
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Sold "as is" with deferred maintenance, this Free Union home on 5+ acres was originally listed for $975,000, but sold for $620,000, less than half the current assessed value.Samantha Masone
8/16/11
Beneficial Financial Inc. to Patrick Rutkoskie Jr., 7027 Secretarys Sand Road, $54,000, Albemarle
Octopus Property LLC to Meneka Nadar, 740 Walker Square, Unit 1A, $197,900, Charlottesville
European Homes of Albemarle to Kasoondie Frazier, 116 Blincoe Lane, $295,000, Charlottesville
June & Donald DeFabio to Robert & Sarah Hamfeldt, 1723 Yorktown Drive, $320,000, Charlottesville
Sean & Jessica Reilly to Alan Taylor & Claire Waters, 1325 Rugby Road, $1,350,000, Charlottesville
8/17/11
Joseph & Carol Flynn to Mark & Judith Beenhakker, 3296 Beau Mont Farm Road, $555,000, Albemarle
Melvin & Elizabeth Johnston to Jay Kolbrener & Amy Wells, 1143 Woodlands Road, $416,000, Albemarle
Gordon & Roberta Colley to Sarah Owens, 39 Georgetown Green, $170,000, Albemarle
Deutsche Bank National Trust Co. to Dorothy Gibson, 6024 Cling Lane, $157,000, Albemarle
Meadow Wood Inc. to Megan Harris, 1504 Villa Terrace, Unit B, $120,250, Albemarle
Julie Vianello to James & Patsy McCormick-Goodhart, 132 Hessian Hills Circle, Unit 1, $118,500, Albemarle
Cary T. Branch Jr. Estate to Ronnie & Barbara Breeden, 578 Huckstep Branch Lane, $38,500, Albemarle
Wells Fargo Bank to Laura Light, 322 Berring Street, $32,700, Charlottesville
Elizabeth Rosenblum to Kenneth Moore, 2525 Woodland Drive, $140,000, Charlottesville
Martha Menard to Rosamond Casey, 1124 E. Jefferson Street, $384,500, Charlottesville
8/18/11
Piedmont Realty & Construction Co. to Andrew & Jody Markopoulas, 6541 Woodbourne Lane, $1,047,330, Albemarle
Dayuan Li & Ling Liu to TImothy & Stephanie Smith, 2625 English Oaks Circle, $408,200, Albemarle
Southern Property LLC to Craig & Lynn Ringuette, 2117 Sundown Place, $299,900, Albemarle
Argent Development to Trent Snarr & Caroline Wilby-Snarr, 1112 Arden Drive, $281,000, Albemarle
Dale Ludwig to Southern Property LLC, 1168 Cottage Green Way, $75,000, Albemarle
David Elkins to Dale Felker III & Dolma Pasang, 622 U.S. 250 Bypass, $140,500, Charlottesville
Betty Payne to Federal National Mortgage Association, 910 Rougemont Avenue, $128,299, Charlottesville (foreclosure)
Federal National Mortgage Association to Anthony Carbonelli, 910 Rougemont Avenue, $80,000, Charlottesville
8/19/11
Shelter Associates to Michael Conway, 4235 Free Union Road, $325,000, Albemarle
James & Bernice Hutchins to Lynn Bradley, 1521 Jarman Lake Road, $305,000, Albemarle
Pedro & Evelyn Ortiz to Craig & Elizabeth Schneiders, 2599 Ravenscroft Way, $254,000, Albemarle
Old Trail B-4 LLC to Jae Yim & Yoon Jung, 1058 Killdeer Lane, $253,000, Albemarle
Adell Haley to Andrew & Juliane Haley, 1785 Jumpers Run, $175,000, Albemarle
Hilda Awkard to Federal National Mortgage Association, 1531 Pughs Store Road, $131,562, Albemarle (foreclosure)
R.L. Beyer Construction Inc. to David & Elaine Cheng, 229 Huntley Avenue, $416,602, Charlottesville
8/22/11
Robert & Patrice McKeel to Andrew & Elizabeth Darby, 1763 Locust Shade Lane, $735,000, Albemarle
William Daniel & Stella Ray to Timothy & Virginia Michel, 4505 Old Fields Road, $620,000, Albemarle
Alice & Karl Barkley II to Lee & Tommie Bruderer, 1327 Tilman Road, $386,000, Albemarle
Florence Nana & Nana Tchienkou to Servertis REO Pass-Through Trust I, 4000 Tompkins Drive, $342,500, Albemarle
Michael & Brenda Beitzel to David & Lori Rocco, 370 Grayrock Drive, $330,000, Albemarle
Janice Hendricks to Robyn Sealey & Michael Sinclair, 1326 Gate Post Lane, $315,000, Albemarle
Barbara Ann Graham to Sean Stanford, 1700 Goldentree Place, $224,000, Albemarle
Andrew Darby to Timothy Brooks & Rachel Jaberg, 1031 Bristlecone Lane, $214,000, Albemarle
William & Howard Goodwin to Robert & Shirley French, 316 Harvest Drive, $208,000, Albemarle
Federal National Mortgage Association to Matthew Rusk & Cary Watkins, 4669 Briarwood Drive,$137,500, Albemarle
Deutsche Bank National Trust Co. to Gary Smith, 1670 Riding Club Road, $53,199, Albemarle
8/23/11
Frances Cheevers to James & Clare Farmar, 2147 Timber Meadows, $351,000, Albemarle
Clarence Smith to Jerry Rainey, 1673 Old Brook Road, $290,000, Albemarle
Dave Chua to Georgi Zotev & Marchela Panaoit, 102 Milford Terrace, $125,000, Charlottesville
4 comments
Tax assessment has nothing to do with market value of a property. It seems like the writer doesn't understand the difference between assessment and appraisal, as per photo caption.
The value of a property is what someone is willing to pay for it. Not sure what your post addresses as the assessed value, which is what the tax rate is based upon, does not require and special understanding, just the ability to search the local databases. While the current assessment is 975K, it seems pretty clear that it will be 620K or so next time around. So if the writer did a quick search, then she knows what she is talking about.
Either way somebody lost their shirt. Sign of the times.
The Tax Assessment is supposed to be based on the Fair Market Value of the property as determined by arm's-length sales of comparable properties. This one is interesting because it's the first time it has sold since it was built in 1988.
In 1996 it was valued at $701,300 -- Land $115,500 and Improvements $585,800. Stayed at $669,600 for 1997 through 2000. Got as high as $1,402,600 for 2007.
Its recent selling price means it was either a huge bargain sale or the Assessor has been hosing the previous owners for years. Assessor shows it's a "qualified sale" so looks like the previous owner got a very raw deal for a number of years. Why am I not surprised? Just another Hookee in Hookville!