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3691 County Road 426
Lolita, TX 77971
$389,999
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
2048
Property Description
Are you an aspiring cottage farmer? THIS is THE place for you. This stunning and unique property features a gorgeous and producing pecan orchard offering an immediate ag exemption and the opportunity to try your hand at farming in an established way! The well cared for double wide manufactured home is perfectly laid out with no wasted space! The open concept living/dining/kitchen is oversized and designed for entertaining on a large scale and for living far bigger than the home measures. The kitchen is loaded with tons of custom cabinetry and an oversized island that looks out into the expansive living/dining room. This space is so wide open that the layout is only limited by your imagination. The thoughtful split plan offers large bedrooms, each with a great sized closet. The master boasts an en suite double vanity bath with a soaking tub and separate shower. Do you work from home? Perfect, because there is also a nice office that could double as another bedroom or living area. The oversized laundry room is complete with a folding counter and tons of storage and there is an enormous walk in pantry to round out this outstanding offering. Outside you will find pens, cross fences and all the buildings you could want or need to make your little farm as productive as it is fun! As if all that was not enough, this unique unicorn of a property is also located in the desirable Industrial School District. Do not wait, opportunities like this do not come up often!
Property Information
Lot Size
11 acre(s) square ft
Property Type
Residential
Year Built
2012
MLS Number
542621
Location
Address
3691 County Road 426
City
Lolita
State
TX
Zip Code
77971
County
JACKSON
Listing
Provider
Twin Rivers Real Estate, original listing
Name
Twin Rivers Real Estate
Phone
(361) 782-9073
Office Name
Twin Rivers Real Estate
Office Phone
(361) 782-9073
Agent Name
Katherine Compton

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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.