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000 Hermosa Dr
Kingsland, TX 78639
$18,500,000
Conventional
Property
Bedroom
--
Bathroom
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Property Type
Conventional
Square ft
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Property Description
Once in a lifetime opportunity to purchase a very large, ~364-acre, contiguous, development tract of land inside the unincorporated city of Kingsland, TX. This tract has the potential to connect to Lake LBJ via a channel.The tract is surrounded by housing and housing infrastructure. The Lighthouse Country Club golf course is close by. The Llano River arm of Lake LBJ is within easy walking distance. There is a private airstrip just on the west side of the property. This tract is currently a blank slate as far as development. Highest and best use will require some imagination and design work, but the possibilities are endless.The property has a fertile sandy loam soil and is currently covered by native vegetation which includes many large oak trees as well as native elm, cedar and mesquite trees. The property is currently leased for grazing and is under a 1-d-1 Ag valuation which keeps the taxes very low. Kingsland is unincorporated and is a census designated place (CDP) with a population over 7,000. As per the Kingsland/Lake LBJ Chamber of Commerce, Kingsland is nestled between the beautiful waters of the Llano and Colorado Rivers, and on the banks of Lake LBJ. The Highland Lakes area attracts many vacationers as well as second home owners. The property is relatively flat and is accessible at four different locations, with the main entrance on the south side from Hermosa Street. Location: Walking distance to Lake LBJ, 3 ½ miles to downtown Kingsland, 16 miles to Marble Falls, 18 miles to Horseshoe Bay, 18 miles to Llano, 65 miles to downtown Austin.
Property Information
Lot Size
0 sqft square ft
Property Type
Farm-Farm
Year Built
--
MLS Number
--
Location
Address
000 Hermosa DR
City
Kingsland
State
TX
Zip Code
78639
County
LLANO
Listing
Provider
Keller Williams - Lake Travis, original listing
Name
Phone
(281) 224-2094
Office Name
Office Phone
(512) 263-9090
Agent Name
Robert Pahmiyer
Agency Phone
(512) 263-9090
House Features
Architectural Style: Other
Architectural Style
Neighborhood/Schools
Elementary School/District: Packsaddle
Elementary School/District
Middle/Junior High School/District:
Middle/Junior High School/District
High School/District: Llano
High School/District
Subvidision Name:
Subvidision Name

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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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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.