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3816 Lake Brite Street
Groveland, FL 34736
$1,299,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2368
Property Description
Seller is finishing the house! Disregard the under construction photos, it will be beautiful when complete. Very large house on almost 10 acres, multiple barns, stalls and an approximate 10,000 sqft metal building -concrete slab and 4 overhead doors. The house contains 3 Bedrooms and 2 1/2 Baths. Downstairs contains the separate dining room, kitchen, study and a family room plus the 1/2 bath. Walk out of the kitchen to another patio under roof. This house has tons of closets, storage and a bonus room off of the kitchen that is approximately 256 sqft. Upstairs, walk out of the Master Bedroom onto very large covered and screened balcony. Upstairs has 3 bedrooms, master bath plus a second full bath with a tub. This house has abundant space and sits up on the hill looking down at the farm. The land is split into two larger pastures. You will notice multiple barns with stalls, and another barn with 3 oversized stalls that has additional rooms, tack and feed room, bathroom, extra storage. The property is fenced and cross fenced, everything was just put in, maybe a year old. As you drive up the fenced lane, you will notice the huge metal building, 18' high at the peak with a clear span. 4 overhead doors that are 12x12. Shed roofs follow along the building 15' wide which gives an approximate sqft total for the entire building at 10,000sqft. This building has an office, bath. The office roof is structurally sound to sue for additional storage.
Property Information
Lot Size
8 acre(s) square ft
Property Type
Residential
Year Built
2008
MLS Number
G5074969
Location
Address
3816 LAKE BRITE STREET
City
GROVELAND
State
FL
Zip Code
34736
County
LAKE (SOUTH)
Listing
Provider
RealTeam Realty Inc, original listing
Name
RealTeam Realty Inc
Phone
(352) 267-6216
Office Name
REALTEAM REALTY INC.
Office Phone
(352) 267-6216
Agent Name
Trish Leisner

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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.