This probably won’t help 127 Lake Avenue’s chances

169 Lake

169 Lake

Farmington Bank has initiated foreclosure proceedings on 169 Lake. I’m not making light of someone’s difficulties (and I’m not linking to the court docket), but Zillow now sends out notifications on these things the day they’re filed. An old listing for the property can be found here. It’s not presently on the market but I suppose it will be sooner or later, and assuming it goes as a distressed sale, whatever price it fetches won’t buttress values of the other houses along this stretch. Purchased for $1.268 million in 2006, I don’t see that number in its future.

2 Comments

Filed under Uncategorized

2 responses to “This probably won’t help 127 Lake Avenue’s chances

  1. InfoDiva

    Given the glacial pace of foreclosure proceedings in Connecticut these days, do you really think 169 Lake’s problems will affect 127?

    A neighbor’s foreclosure proceeding is now going into its third year. The homeowner shows up–without a lawyer, no less–and gets his law day extended time after time. The folks at Patriot are in no hurry to book this loss. Will the guys at Farmington Bank really take a different approach?

    • Nah, you’re right, Info – if the owner wants to hang out for the next 3-4 years there’s nothing stopping her. I’d slipped into my old mode of lawyer when, back in the 80s, a foreclosure was a matter of months, not years. New world.