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966 S Jersey Street
Denver, CO 80224
$900,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3896
Property Description
Attention Investors! Don't miss your opportunity to own an almost 4000sf home in Central Denver minutes from Cherry Creek for $900,000. Lowest price per square foot in Virginia Vale at $231/psf!! Plenty of equity to be had with a little updating. With 3,896 square feet of living space, this 4-bed, 4-bath home stands as a testament to the artful transformation of a 'pop top' renovation, distinguishing itself in Virginia Vale's architectural landscape as only one of three! The main living and dining room area beckons, setting the stage for an inviting atmosphere. Venture further, and you'll discover the heart of the home—an expansive open-concept eat-in kitchen adorned with high-end appliances, abundant storage, a dazzling quartz island/countertop, and a space ready to host grand dining gatherings. Adding to the allure, the main floor unveils the first of two bedrooms and a full bathroom, offering convenience and comfort. At the end of the hallway, a generously sized junior en-suite bedroom unfolds, featuring a charming sitting area and its own 3/4 bathroom. Ascend to the upper echelon of luxury living, where the entire top floor is dedicated to the primary bedroom suite. Revel in the opulence of a 5-piece primary bathroom suite, dual walk-in closets, and a private sitting area/flex space. Step outside onto the private deck, offering panoramic views across Garland Park—a serene retreat just steps away. Descend into the basement to discover a sprawling home theatre/family room, a spacious fourth bedroom, a 3/4 bathroom, and a convenient laundry room. The expansive 4-car garage stands as a symbol of convenience and luxury, a rare find in this neighborhood. Situated just two houses away from Garland Park and McMeen Elementary, with Cherry Creek, Downtown, and the DTC mere minutes away, and surrounded by the allure of the Cherry Creek Bike Trail, this residence seamlessly balances tranquility and accessibility.
Property Information
Lot Size
-- square ft
Property Type
Other
Year Built
1959
MLS Number
9012942
Location
Address
966 S Jersey Street
City
Denver
State
CO
Zip Code
80224
County
DENVER (SOUTH)
Listing
Provider
Engel & Völkers Denver, original listing
Name
Engel & Völkers Denver
Phone
(720) 692-6563
Office Name
Engel & Völkers Denver
Office Phone
(720) 692-6563
Agent Name
Randy Jeffrey

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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.