Jul
26

In Asheville Area, Commercial Market’s Woes Follow Those of Housing Market

By
– citizen-times.com

The only people who showed up for a recent foreclosure auction of an office building on downtown’s south slope were the attorney conducting the auction, a representative of the lender and a reporter.

After Asheville Savings Bank official David Kozak put in the bank’s bid while standing on the steps of the Buncombe County courthouse, there was a silence until he and attorney Veronica Colvard jokingly invited the reporter to make an offer.

No sale.

In Black Mountain, a 1,400-square-foot building on Cherry Street in the town’s downtown retail district is listed for sale at $279,000. Three years ago, Realtor Chip Craig says, “It would have sold for $450,000.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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    Categories : Asheville

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