The last Buying Trip that we had was in Washington County, Pennsylvania which is about 28 miles south of Pittsburgh. This small county was having a Judicial Tax Foreclosure Sale with approximately 340 properties for sale. In touring the county we were able to learn some history of this area and what stood out the most was the abundance of mining in the last 50 years. The mining has substantially halted in the last ten or fifteen years, but had left extraordinary footprints. Many of the properties and houses we visited had subsidence issues. There were entire colonies where you could see hillsides caving in and what appeared to be sink holes, but were actually the underground mines caving in. These mines are no longer active, but there are rumors of oil companies wanting to drill in this area - it proves to be a region rich with natural oils and minerals.
This part of Pennsylvania was beautiful; very green and fresh. Many of the areas we toured had fantastic architecture. Old Victorian houses polka dotted the older down town neighborhoods. This was a area were the effect of the recent economy is present. In years past, most of the run down neighborhoods used to be flourishing and wealthy - now (according to neighbors) harbor less than ideal environments for a family atmosphere.
We stopped for lunch in Donora. Walking up the main road through town, we stumbled across a small Italian Bistro and decided to eat there. After a delectable meal, we loaded the bus and continued our tour of the county. Many of the houses we visited were open or accessible. It was very interesting to see what condition these houses were left in. Some were wrecked. Others were in great condition. One in particular looked move in ready.
The morning of the auction there was much excitement. There was a decent turn out at the auction, a little larger than normal for a county of that size (most likely because of the group we brought.) In going through the items to be sold, the auctioneer (which was the county attorney) announced townships and asked if there was any interest in that particular township. If there was no interest in the township he announced, he would move on to the next - as to speed through the 300 parcel list a little faster. Out of the clients we had attend our Buying Trip, approximately 2/3 of the group bought one property or more. Several of those purchases were houses. Most bids stayed under a few thousand dollars. Many properties went for opening bid.
The auction was exillirating. The clients that had never been to a live auction before showed excitement in attending this one. It was particularly interesting to know what these properties were worth, and see them purchased for literally pennies on the dollar.
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