Home for Sale at 1247 Cannady School Road SE, Floyd, VA 24091

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1247 Cannady School Road Se
Floyd, VA 24091

Linda DeVito with UC/Blue Ridge Land & Auction, original listing - (540) 745-2005

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Property Details

List Price:	$785,000
Beds:	3
Baths:	Full: 2
Status:	Active
SqFt:	16.49 Square Feet
Agency:	UC/Blue Ridge Land & Auction
Agency Phone:	(540) 745-2005

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Description/Comments

Lot Size:	32 acre(s)
Property Type:	Farm-Farm
Year Built:	2012
Notes:	Come and visit this beautiful farm in Floyd County ready for horses, livestock, complete with farm building and a pond. As you approach this 32.498 acre farm you'll be greeted by beautiful tree lined road frontage and large oak trees. The farm has a nice mix of pasture and woods complete with wooded trails, open pasture, and homestead comfort. The main floor has 2048 sqft open floor plan with vaulted ceiling in the great room, separate dining area and beautiful appointed kitchen. The light filled kitchen has walnut and off-white cabinets, granite countertops, large island with cooktop, double ovens, and stainless steel appliances. A front covered porch, back deck and side porch. The basement has laundry, framed & wired for bedrooms, kitchen, large bathroom, daylight windows and separate work space. Spring fed stocked pond. Dressage arena for horses with some automatic water troughs in some pastures. Please see attached document for all equipment conveying with the farm.
MlsNumber:	--
ListingId:	426014

Listing Provided By:	UC/Blue Ridge Land & Auction, original listing
Phone:	(540) 230-7255
Office Phone:	(540) 745-2005
Agent Name:	Linda DeVito
Disclaimer:	Copyright © 2025 New River Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

Property Details

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Description/Comments

USHUD.com on the Go!

HUD Foreclosures

Free Foreclosure Listings

Foreclosure Listings Increasing