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320 S Lysbeth Court
Norman, OK 73093
$739,900
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
--
Property Description
**Seller offering $10,000 in incentives toward anything of buyers choice.*** Located serenely at the end of a cul-de-sac in the coveted Sunset Ridge Estates, this bespoke residence is a testament to luxurious living. Set on a sprawling 3/4 acre lot, this custom home boasts an impressive 4,490 sq. ft. of meticulously designed living space. The exterior is adorned with a 3-car garage, a convenient 1-car porte-cochere, and a covered patio, providing both practicality and aesthetic appeal. Safety and peace of mind are paramount, as evidenced by the reinforced concrete safe room/storm shelter—an invaluable feature during inclement weather. The interior exudes sophistication, showcasing extensive ash millwork and custom cabinetry throughout. The thoughtful floor plan includes a ground floor primary bedroom suite, ensuring convenience and privacy, while three additional versatile spaces offer flexibility as bedrooms or a media room. An elegant entry unfolds through a formal curved staircase and a second private staircase, providing secure access via the garage. The two-story foyer sets the tone for the home's grandeur, enhanced by a Juliet balcony overlooking the space. The open living, kitchen, and dining areas feature a majestic cast-stone fireplace and 12-foot tray ceilings, creating an atmosphere of refined comfort. The kitchen, a culinary enthusiast's dream, boasts stainless steel appliances and two expansive granite-topped islands—an ideal setting for both meal preparation and family gatherings. This residence is not only a visual masterpiece but also offers practicality, with excellent Norman schools and school bus eligibility. Experience the epitome of elegant design and functional living in this exceptional home, where every detail has been carefully crafted to elevate the quality of life.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2008
MLS Number
1097367
Location
Address
320 S Lysbeth Court
City
Norman
State
OK
Zip Code
73093
County
MC CLAIN
Listing
Provider
Dillard Cies Real Estate, original listing
Name
Dillard Cies Real Estate
Phone
(405) 366-7707
Office Name
Dillard Cies Real Estate
Office Phone
(405) 366-7707
Agent Name
Alexis Brendemihl

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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.