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Virginia property owners prevail

By
Real Estate Agent 0225218019

The headline should read: Virginia property owners prevail. Jay and Stephanie Burkholder were awarded a $2.2 million dollar judgment. The Roanoke Redevelopment and Housing Authority had offered to pay the Burkholders $1.53 million. An article in the Roanoke Times reports that the jury set the value of the land at $2.2 million.


The housing authority was ordered to pay the Burkholders $2.2 million for the land that was seized by eminent domain. The Burkholders had two appraisals that gave the property a value of about $4.5 million and the $2.2 million dollar judgment is the difference in the appraised value and what the housing authority offered.


The Burkholders plan to continue their fight against the seizure, and say they hope to ultimately strengthen the rights of Virginia property owners.

 

Posted by

Sybil Campbell, REALTOR®, ABR, SFR, SRES

Long and Foster, REALTORS®

(757) 876-0140

WHATEVER THE DIRECTION SYBIL CAN HELP YOU LOCATE THE HOME OF YOUR DREAMS

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