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200 Settlers Ct
Elkton, OR 97436
$394,900
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
1606
Property Description
In the center of some of Oregon's best fishing and hunting, and only about 30 minutes from Winchester Bay and the Pacific Coast beaches, this remodeled home in the desirable Wells Creek/Scottsburg area is a rare find, and the assumable VA loan at 3.5% is a real bonus if you can take advantage of it. This property is a stones throw from the mighty Umpqua River, with boat launches and fishing opportunities in abundance. The beautiful open concept home features a spacious kitchen with a movable island, an abundance of oak cabinets and room for a small table, together with an adjacent dining room with a pellet stove. The generous living area has vaulted ceilings and direct access to both the kitchen and dining room. Since 2020, the sellers have replaced the refrigerator, range/oven, dishwasher, range hood and kitchen sink, as well as the kitchen island, which is on wheels which makes it very easy to adjust its' location in the kitchen. The sellers have also have painted the entire interior, installed new laminate flooring in the bedrooms, installed a new Culligan water treatment system in the pump house, remodeled the primary bedroom closet, replaced both toilets and installed new lighting in the kitchen and bathrooms. The spacious laundry room as plenty of room for additional refrigerators and/or freezers. The large shop/garage has two double garage doors and two open areas, which would be great for storing a boat, small RV or other toys, and could be enclosed to provide additional shop space or whatever you would like. New LED lighting was installed in the garage in 2022. There is a full RV hookup site in the yard quite a distance from the home, and additional sewage dump beside the driveway. The fenced garden area and small orchard, when combined with fertile soil and the mild climate, make this parcel a great option for gardeners. All this, and a small seasonal creek runs through the property and year around Golden Creek forms the back property line.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
2007
MLS Number
23263329
Location
Address
200 SETTLERS CT
City
Elkton
State
OR
Zip Code
97436
County
DOUGLAS
Listing
Provider
Heritage Real Estate, original listing
Name
Heritage Real Estate
Phone
(541) 643-6292
Office Name
Heritage Real Estate
Office Phone
(541) 643-6292
Agent Name
Rich Raynor

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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.