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5759 Ring Road
Saint Paul, VA 24283
$289,000
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2507
Property Description
A private mini-farm, retreat awaits you! Come see this jewel located in Southwest, VA. Property has two houses, large 3300 sq. ft. cinderblock building/workshop, barn, two story cinderblock building, painters shed on approx. 7 acres! The main house amenities on main level feature 4 bedrooms with closets, 2 full bathrooms, laundry area in one of bathrooms, large living room, eat-in kitchen, hardwood flooring throughout, covered carport, unfinished basement with a handmade sauna! Above the house, entrance outside is large storage area or potential small apartment. The smaller house is a handy-man special as it has a collapsed floor and wood siding needs repaired but underneath is block and has a new metal roof. It is 600 sq. ft, with a bedroom, bath, kitchen and living area or can be used as a storage building. The land is perfect for gardening, recreation, with a ton of space of outdoor activities. One of the main attractions is a 33ft x 100ft cinderblock building/workshop with concrete floor, electricity, and includes lots of metal and hardware and some remaining equipment. The sky is the limit with this building as it used to be a workshop, even a saw mill was in the process of being built. A wench remains with the building. A smaller cinderblock building features electrical, excellent for storage, gym, and even has an upstairs level. There is a barn with stalls. Also, there is a vented, galvanized paint booth for vehicles. Two wells are also on the property and can setup for use if desired. Charming Town of St. Paul within 20 mins has Farmers Markets, parades, Clinch River adventures, hiking, restaurants and more! 25 mins to Norton. Do not go on property without a realtor present. Deed says 7.5 ac. more/less, tax record says 6.5. All information contained herein is deemed reliable, but not guaranteed. All information contained herein is to be verified by buyer/s. Directions to the property is GPS friendl
Property Information
Lot Size
7 acre(s) square ft
Property Type
Residential
Year Built
1948
MLS Number
9950080
Location
Address
5759 Ring Road
City
Saint Paul
State
VA
Zip Code
24283
County
WISE
Listing
Provider
Century 21 Legacy, original listing
Name
Century 21 Legacy
Phone
(423) 239-6112
Office Name
Century 21 Legacy Col Hgts
Office Phone
(423) 239-6112
Agent Name
Amanda Green

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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.

Free Foreclosure Listings

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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.