Sorry for the silence... please forgive us.
Here is a quick update on what is going on in the Box Bend world.
We have our contractor adding value to our own personal home right now. He is taking an unused storage room upstairs and converting it into another permitted bedroom, and a separate home office. He has been on other projects, but for now, and for us, he is in a holding pattern on Box Bend business.
Moreland is done and has been on the market for a little while now. Showings in general are way down for a lot of properties including this one. We think (and we hear) that this may have a lot to do with a couple of weeks of miserable weather. It has rained and rained and rained some more. We are praying for sunshine and showings and sales.
State Street's little bungalow, as pointed out in the last post, is being sold back to us through another business that we co-own. (See the post before this one.) We are super stoked about this one. Again, check out the earlier post.
And Moncure is going to auction. We have paid to divide the land into seven parcels, and we are being told by the auctioneer and our Realtor that the auction date is set for December 8th. We are (truthfully) hopeful, but unsure. This is a test to see what happens and possibly use this as a model for other land sales. We have set a reserve, we have developed about a gazillion questions, and we are looking forward to seeing what happens. If it is not successful, it will have been worth the price of admission based on the education alone.
It doesn't show in the picture, but there is an easement to lot 7 from the other (non-main road- side) of the property. We are more than comfortable with the reserve, because the land prices are incredibly reasonable as compared to land 30 minutes away in the western suburbs of Raleigh. We are also fairly sure that the auctioneer and our super Realtor are both comfortable with the price and the reserve. This is a good place to be.
We are also debating starting a new home or two on one of our lots in Durham. Recall that we have three lots and they were purchased with the intent of starting Box Bend Home.
We are also in the process of starting a new business that is only slightly related to Box Bend and/or our real estate franchise. This has been eating up some time as we put together the dossier and financial models for the business. We are still in the evaluation phase of this business. As we work through the models, we will know if it is a "go," or a "no go." Needless to say, this business assessment has eaten up a little bit of our time. None-the-less, we are still focusing on Box Bend. We haven't been so good about the blog, though. (Sorry about that.)
So now (today) there are just a few question marks floating around out there...
Will we sell Moncure's land and Moreland's beautifully renovated home before Christmas? Will we start new home construction on one of our three lots in Durham? Will we buy another transformational home instead? Will we do both?
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