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435 Catarina Drive
Borrego Springs, CA 92004
$650,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3154
Property Description
Nestled inside the De Anza Country Club, this sprawling (3,154 sq.ft living space) 3bd, 3ba home has a fairway of the golf course just beyond its brick fence at the backyard. The half-circle driveway lets you off at the french front door opens up to foyer that leads to a hotel lobby-like living room. At the end of the driveway are 2 garages with separate doors for 1 car each. Two bedrooms are located on the north wing, one with a full bath of its own, a wall-to-wall, ceiling-to-floor closet with mirrored doors. The extra large 2nd bedroom is annexed to a hallway 3/4 bathroom. The master bedroom sits on the far south wing past the dining room where a smaller version of the living room's grand chandelier hangs. It has its own master's bathroom and walk-in closet. The living room boasts of cathedral ceiling, a fireplace, a wet bar, and a huge chandelier. There is a separate section that can be used as a music room, tv room, or game room or whatever pleases the new homeowner. Across the living room, separated by a sliding glass door is the sun room which looks out to the backyard and the oval shaped swimming pool. On top of the generous Saltillo tiled & cemented area surrounding the pool, there is still ample yard spaces on both sides of the property. This home is also equipped with aluminum security door and window panels. Newer carpet was installed in Nov 2023. The installed solar system will be delivered free and clear at COE.
Property Information
Lot Size
15,682 sqft square ft
Property Type
Residential
Year Built
1982
MLS Number
PW24025692
Location
Address
435 Catarina Drive
City
Borrego Springs
State
CA
Zip Code
92004
County
SAN DIEGO (GREATER)
Listing
Provider
American Financial Group, original listing
Name
American Financial Group
Phone
(562) 207-2498
Office Name
American Financial Group
Office Phone
(562) 207-2400
Agent Name
Vangie Cabrera

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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.