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205 Wallace Street
Broken Bow, OK 74728
$199,000
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
--
Property Description
Nestled within the city limits of Broken Bow, this charming older home exudes a timeless appeal. Situated on a generous lot of approximately 0.38 acres, the property offers ample space while retaining its historical character. The residence boasts a comfortable 1734 +/- square feet, providing plenty of room for both living and entertaining. Approaching the home, you'll notice its classic architecture, featuring a combination of sturdy wood siding that reflects the passage of time. The exterior may be accented by a modest front porch, perfect for engaging in friendly conversations with neighbors passing by. Upon entering, the interior welcomes you with a sense of warmth and nostalgia. The living spaces are thoughtfully laid out, with an emphasis on functionality and practicality. The floor plan design offers endless possibilities for a new owner to explore. While some updates have been made there will be room for the touches of a new family to make it their own. The four bedrooms are distributed throughout the home, offering both privacy and convenience. These rooms vary in size, accommodating various needs and preferences. The two bathrooms are well-appointed, providing essential facilities without excessive frills. One notable feature of this property is the spacious yard, which, while not formally landscaped, presents an opportunity for a new owner to create a personalized outdoor oasis. The expansive lot gives you room to exercise your creativity and turn the blank canvas into a beautiful garden, play area, or whatever your heart desires. Overall, this older 4-bed, 2-bath home with approximately 1750 square feet on 0.38 acres offers a unique blend of history, space, and potential. Its location within Broken Bow's city limits ensures convenient access to local amenities, while the absence of a fireplace and landscaped yard provides a canvas for you to make this house your own, reflecting your personal style and preferences.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1960
MLS Number
1075198
Location
Address
205 Wallace Street
City
Broken Bow
State
OK
Zip Code
74728
County
MC CURTAIN
Listing
Provider
Leadership Real Estate Investments, Inc dba Keller, original listing
Name
Leadership Real Estate Investments, Inc dba Keller
Phone
(405) 748-8500
Office Name
Keller-Williams Platinum B.B.
Office Phone
(580) 494-3466
Agent Name
Debra Elliott

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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.