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45840 Mckenzie Hwy
Vida, OR 97488
$1,150,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
3092
Property Description
Watch the McKenzie River drift by through the wall of windows in this 3092 square foot high-bank riverfront home. This recently remodeled 4 bedroom, 2.5 bath home features a lodge-style great room with high ceilings, wood floors, a travertine fireplace and huge windows to enjoy the river. The open floor plan, remodeled in 2021, incorporates the great room with a formal dining area as well as a spacious kitchen with granite counters, a center island, wet bar with sink, built-ins, stainless steel ice maker and a breakfast nook. The sun-soaked deck with sweeping views is accessed from the great room. A guest half bath plus a laundry room are also on this level. The main level primary suite includes double walk-in closets, bath with walk-in shower, which was just remodeled in 2024, plus a separate private deck with hot tub and waterfall. Enjoy a close-up view of the river through the great room windows from the second story glass-railed loft office. Guest bedrooms and bathroom are accessed from the loft. A security system monitors the house, the shed doors and the driveway. The house faces south to take advantage of the Vida microclimate. The amazing flower gardens bloom all season long and are surrounded by lawn. A young orchard and vegetable garden provide fresh table food. Catch your dinner standing on the fishing rock in front of the house. The property is a hobbyist's dream. In addition to the 2 ½ car garage, there is a 1100 sq ft heated 3 room shop with a half bath and storage, a 560 sq ft garden shed with John Deer riding lawn mower & roll up door, plus a 640 sq ft RV/garage that can accommodate a full-sized motor home. These out buildings have metal siding and metal roofs. The 1.87 acres is fully irrigated with water rights from the 238 feet of McKenzie River frontage. Fishing from your backyard, canoeing on Leaburg Lake, hiking and biking trails close by. It doesn't get any better than this. LOMA on file from FEMA, no flood insurance required. Zone X.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1995
MLS Number
24612182
Location
Address
45840 MCKENZIE HWY
City
Vida
State
OR
Zip Code
97488
County
LANE
Listing
Provider
Windermere Real Estate/Lane County, original listing
Name
Windermere Real Estate/Lane County
Phone
(541) 484-2022
Office Name
Windermere RE Lane County
Office Phone
(541) 484-2022
Agent Name
Nadine Scott

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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.