1414 Horizon Ct is a 3,547 sqft REO returned to Central Mortgage Co. The home was purchased just March of last year for $995,000. It is currently pending sale after being listed for $620,000. Interestingly, the bank has not paid the property tax and $14,581 is due to the county.
1418 Horizon Ct is another REO, this one owned by Aurora Loan Service. This REO went back to the bank this past January and has not been listed just yet. Once again, another overdue property tax on a bank-owned property. Total due is $14,369.
Just three doors down from REALTOR® Javier, Heather at 1457 Horizon is overdue on $16,619 of back taxes.
Down the street, REALTOR® Justin over at 1409 Horizon is also overdue on $15,559.
Are there any other signs of distress? Interestingly, REALTOR® Jeff living at 1421 Horizon did actually pay his property tax. Unfortunately, Jeff only had enough dough for the taxes but not enough for the mortgage as he just got his NOD last month.
So what’s the final tally on Horizon Court?
5 out of 22 homes, or 22.7%, are overdue on property tax.
out of the 5 tax delinquencies, 2 are already REOs and 1 has a NOD, leaving 2 with just the overdue tax issue.
counting all REOS, NODs, and tax delinquencies, 6 out of 22 homes are distressed properties, or 27%.
of the 6 distressed properties, 3 of them are owned by REALTORS®.
of the 6 distressed properties, one is pending sale, but 5 are not listed for sale currently at all (phantom inventory!!)
Unfortunately, things are not looking so good here on Horizon Court. Too bad things are going from bad to worse down the Horizon…
