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16201 Scotland Way
Edmond, OK 73013
$799,000
Conventional
Property
Bedroom
2
Bathroom
3
Property Type
Conventional
Square ft
--
Property Description
Nestled in the highly sought-after Muirfield Village, this exquisite home presents a rare opportunity to reside in one of the most desirable neighborhoods, especially favored by empty-nesters. As you step inside, you are greeted by a large foyer adorned with a striking wood barrel ceiling, setting the tone for the elegance that unfolds throughout. The home boasts a side courtyard with a cocktail pool and fireplace, perfect for intimate gatherings. Rich oak wood floors grace the main areas, while the kitchen and breakfast rooms feature stylish tile flooring. The study, with two walls of built-ins, provides a serene workspace. This home is an entertainer's dream with two dining areas and a large living room, complete with a cathedral ceiling, rustic wood beams, and a stone fireplace. A cleverly concealed built-in hides the TV, maintaining the room's sleek aesthetic. The spacious guest suite ensures comfort for visitors, while the large primary bedroom features a corner fireplace, adding a cozy touch. The primary bedroom's sliding glass doors open onto the courtyard, seamlessly blending indoor and outdoor living. An in-ground storm shelter in the primary closet adds a layer of safety. The kitchen is a chef's delight with a large island, ample cabinets, a walk-in pantry, and an appliance garage with slide-out drawers. Upstairs, a large enclosed storage room provides additional space. The garage is not only tiled but also heated, ensuring convenience in all seasons. Located on a corner lot, this home offers easy access to a greenbelt and overflow parking. Residents of Muirfield Village enjoy a gated community with a clubhouse, fitness center, swimming pool, and conservatory. The newly opened Homeland grocery store is very close, and the home's location offers easy access to highways, shopping, and restaurants, making it a perfect blend of comfort and convenience.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2006
MLS Number
1107873
Location
Address
16201 Scotland Way
City
Edmond
State
OK
Zip Code
73013
County
OKLAHOMA
Listing
Provider
McGraw REALTORS, original listing
Name
McGraw REALTORS
Phone
(405) 348-4422
Office Name
McGraw REALTORS (BO)
Office Phone
(405) 348-4422
Agent Name
Bill Wilson

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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.