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280 Santiam Av
Detroit, OR 97342
$1,950,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
4569
Property Description
There is a place that exists at the intersection of wild and wonder. A waterfront masterpiece sprawling 4,569 square feet on Detroit Lake. An hour east of Salem, this adventure cabin in the Cascades features rare materials. The woodland home, with natural woods and hand-selected stones, is pure rustic luxury. Cherry wood ceilings, black walnut hardwoods and Douglas fir walls fulfill every craftsman’s dream. The great room’s soaring ceilings provide a front-row seat to lake, mountain and forest scenery. There is a place that exists at the intersection of wild and wonder. A waterfront masterpiece sprawling 4,569 square feet on Detroit Lake. An hour east of Salem, this adventure cabin in the Cascades features rare materials turned timeless finishes.The woodland home, with natural woods and hand-selected stones, is pure rustic luxury. As you approach via the stone-clad entry monuments, fir logs and cedar beams pull you forward. A trout door handle lures visitors of every age. Once inside, you’ll be in awe of the outdoors from inside. Cherry wood ceilings, black walnut hardwoods and Douglas fir walls fulfill every craftsman’s dream. The great room’s soaring ceilings provide a front-row seat to lake, mountain and forest scenery. A stone-encased woodburning fireplace is a retreat all its own. The gourmet kitchen offers a double Sub-Zero refrigerator and freezer, dual paneled built-in dishwashers to match the hickory cabinetry, dual farmhouse sinks and Wolf range. Ample storage surrounds a tulip wood island with granite dining bar. An arched rock wall leads to the dining room where an Argentine wood grill awaits culinary creations. Main floor guest quarters flow into a full bathroom with custom walk-in shower and gleaming copper basin. The main floor has a mudroom with cubbies for everyone. A central staircase with driftwood finials leads to a vaulted loft with built-in bar and entertaining conveniences. The adjacent rec room is ideal for movies or gaming. Nearby is a full bathroom and den. The home has ample all-season deck space and a covered balcony. An upstairs owner’s retreat is perfect for a curated spa treatment. Highlights include a soaking tub, granite shower, copper sink atop a maple trunk pedestal and heated lanai.The canyon reservoir offers kayaking, boating, fishing and splashing from the pier. With snow-dusted Mt. Jefferson in the distance and ski areas nearby, a lifestyle of fun awaits at this property dense in beauty.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1992
MLS Number
812147
Location
Address
280 Santiam Av
City
Detroit
State
OR
Zip Code
97342
County
MARION (SOUTH)
Listing
Provider
LUXE CHRISTIE'S INTERNATIONAL REAL ESTATE, original listing
Name
LUXE CHRISTIE'S INTERNATIONAL REAL ESTATE
Phone
Office Name
LUXE FORBES GLOBAL PROPERTIES
Office Phone
(503) 330-6677
Agent Name
SARAH SAWYER

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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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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.