The adobe-style home at 1708 Caldwell St. in the Robinson Historic District sold Friday to a real estate agent with plans to replace the historic home with a single-family residence.
Real Estate Agent Reed Weaver of Century 21 Dunaway & Hart, Inc. bought the property for $15,101 with his nephew Colby Swope, after the property foreclosed for $65,279 in November.
The condition of the house is very poor, Weaver said, with a chimney that’s at risk of falling, among other needed renovations.
"I’m afraid restoration isn’t economically an option," he said.
Having an appreciation of the history and architectural design that is represented in Conway, Weaver said his first and foremost goal is to try to preserve the unique history of the property.
He plans to build a single-family home that has features consistent with other properties throughout the Historical District, contingent on the Historic District Commission’s approval to demolish the existing structure.
"I look forward to meeting with the Historical District members and hearing their input," Weaver said.
As far as previous requests to rezone the property to office, Weaver said he doesn’t feel that is the proper use.
"The applicants were probably just trying to find a use that would justify the previous asking price," he said.
Paul Nahlen, a real estate agent with Century 21 Dunaway & Hart, Inc., was the selling agent and had the property listed prior to foreclosure.
"Nahlen worked very hard to find the right buyer; however, I feel like the asking price was too high," Weaver said.
Past attempts at restoration and remodel elevated the asking price, which Weaver says is further evidence that restoration isn’t an option.
"Although foreclosure is never good, I think it allowed the property to be sold at a true market value which will allow appropriate residential improvements to be constructed," he said.
(Staff writer Michelle Corbet can be reached by email at email@example.com or by phone at 505-1215. To comment on this and other stories in the Log Cabin, log on to www.thecabin.net. Send us your news at www.thecabin.net/submit)