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7221 County Road 111a
Salida, CO 81201
$1,250,000
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
2884
Property Description
This beautiful home is a true gem of a property, located in an exceptional setting and has been well cared for by the original owner. From the front of the home you will enjoy the outstanding views of Mount Shavano and the surrounding mountain peaks to the west where you'll welcome every spectacular sunset. The living room is warm and inviting and features vaulted ceilings which make the home feel spacious and comfortable. The kitchen is just off the dining area and has wood flooring and granite countertops. The primary bedroom suite is large and inviting and features a gas fireplace. The primary bathroom is sizable with double sinks, walk-in shower and a separate bathtub. There are two large walk-in closets adjacent to the primary bathroom. The two additional bedrooms are located on the other side of the living room, separated from the primary bedroom. Off the main living room is a bonus room/den that has endless possibilities for use. The two-car attached garage has plenty of storage and also features a small workshop area. A new roof was just installed in 2022 and the sellers have the exterior repainted regularly to ensure quality and longevity of the exterior product. The hot water base board furnace was also replaced two years ago. The entire driveway is paved asphalt and has a circular area for convenient access to the front door. The back deck is very private and feels secluded from the rest of the world where hummingbirds love to visit. The south side of the house has raised beds for a garden and the north side is landscaped with wildflowers and natural rocks. There is a sprinkler system for the majority of the landscaping which is tastefully done, and the well is augmented. The property is five minutes from downtown Salida, has no covenants or restrictions and feels like country living at its best.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1997
MLS Number
6603503
Location
Address
7221 County Road 111A
City
Salida
State
CO
Zip Code
81201
County
CHAFFEE
Listing
Provider
First Colorado Land Office Inc, original listing
Name
First Colorado Land Office Inc
Phone
(719) 539-6682
Office Name
First Colorado Land Office, Inc.
Office Phone
(719) 539-6682
Agent Name
Beatrice Price

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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.

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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.