Darci Marchese, wtop.com

WILLIS WHARF, Va. – It’s one thing to purchase a waterfront property knowing the risks. But inheriting a property that you don’t want and can’t sell presents its own set of challenges.

That’s what’s happening to Suzanne Kubota, an employee of Federal News Radio 1500 AM, WFED.

Kubota inherited her mom’s home on Virginia’s Eastern Shore two years ago. It’s located about half way between Chincoteague and Virginia Beach.

The three-bedroom home is in a quaint and quiet fishing village called Willis Wharf, outside of Exmore.

The reality of owning a waterfront property hit fast.

“The first year came and went. And here come the bills for the taxes and the insurance and the flood insurance and the maintenance.”

Those are things she cannot afford for the long term.

But before Kubota could digest all the expenses, she got an offer from a potential buyer.

“I was offered what the house is priced at now, almost immediately after my mom died and I turned it down thinking it was too low. Now, I’m kicking myself that I didn’t take it.”

She felt how many other homeowners have felt — that they could do better.

“It really is difficult I think, when you know how much it used to be worth.”

Kubota has accepted the reality of sinking home values and has lowered the price to $199,500.

But it hasn’t made a difference.

“There has been so little interest in it, that it’s been shown three times I think in the last two years.”

The house sits and the expenses continue to pile up.

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