Dale's News Report- When a Subdivision becomes a Dud

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Contractor with Baker Energy Audits and Commercial Properties Inspections Happiness is Homemade

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Post 544

In Lebanon, NH - there was two parcels of land, that was approved for a subdivision that was to be called Prospect Hills near Route 4 that are now going to be auctioned off next week, after the bank foreclosed on the developer of the subdivision. There had been planned to build 170 homes, but the combined 70 acres was deeply in debt to the bank that holds the mortgages on the property, according to the court documents. The City of Lebanon also has two liens against the development for unpaid taxes back in 2007 and 2008, tax records show.

The City of Lebanon said, the approval for the Prospect Hills development would be carryed over to the new owner. They are still obligated to develop it according to the approved plan.

The combined assessed value of the two tracts up for auction on 16 Jule of this year. Is $2,668,000 according to the web site of the auctioneer.

 

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Topic:
Real Estate General Information
Location:
New Hampshire Sullivan County Claremont Bible Hill
Groups:
1st Diary of Real Estate Professionals Across America
1st Sullivan - Grafton Counties, New Hampshire
A ActiveRain Exceptional First Time Homebuyers across America Group
Keller Williams Referral Network
New Hampshire - Real Estate and Life in The Granite State!
Tags:
new hampshire real estate
claremont real estate
sullivan county real estate
vermont real estate
springfield real estate
windsor county home inspectors

Comments 8 New Comment

Ambassador
1,662,616
Dale Baker
New Hampshire Relocation and Views Info Blog
Baker Energy Audits and Commercial Properties Inspections

Howdy there Janice

Its always a real pleasure to have you stop by to visit, and to read and reply back to your comments. Lefted on any one of the posts, here at my little ole Blogging Homestead, my friend

Thnk you kindly, for the kind words! They sure do mean a lot to me.

It sure is to bad that AR its self does not feel the same way, about my posts.

Baker Home - Commercial Property Inspections and Consulting Blog

July 13, 2009 06:13 PM
Rainmaker
188,816
Pat Whitehouse
Broker/Owner
RE/MAX 1st Olympic Lynchburg Va

Hi Dale-We had that happen here to one of the builders that had quite a few properties in one subdivision. The economy has hit a lot of folks hard. Have a great week. :-)

July 14, 2009 12:42 AM
Rainmaker
1,172,482
Steven L. Smith
Bellingham WA Home Inspector
King of the House Home Inspection, Inc

Dale,

It is good that you provide the localism information that you do.

July 14, 2009 07:48 PM
Ambassador
1,662,616
Dale Baker
New Hampshire Relocation and Views Info Blog
Baker Energy Audits and Commercial Properties Inspections

Howdy there Pat, and Steven

Its always a pleasure to have the both of you stop by to visit for a bit, and read and reply back to your comments lefted on a post, here at my little ole Blogging Homestead, my friends

Pat - the economy sure has hit hard and has harmed a lot of folks all over our fine Country. Thats for sure!

The really bad thing is, there will be more than likely a lot more of this kind of thing going on. Before its all said and done.

Steven - thank you for your kind words!

Its to bad that AcriveRain them selves, don't think my posts are are worth any thing or their time.

Both of you take care, ya hear! And this ole cowboy will see y'all out on the trail.

Baker Home Inspection and Consulting Blog

July 14, 2009 10:39 PM
Rainmaker
627,947
Dale Baker
Home and Commercial Properties Inspections Vermont
Baker Residential and Commercial Properties Inspections

Howdy to each of ya mighty nice folks,that have been so kind to stop by to pay a visit and to read this post and the other blog posts here at my blog.

Folks I sure do hope when you did take the time to stop by, that you found this blog post to be helpful and an enjoyable post to read.

I sure do hope you have a good one folks,and I sure do want to say Thank You mighty kindly for coming by to sit and visit for a bit!

March 22, 2013 04:36 AM
Ambassador
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Dale Baker

New Hampshire Relocation and Views Info Blog
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