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4694 Settlers Ranch Road
Colorado Springs, CO 80908
$2,500,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
5277
Property Description
This spectacular home is located in Settlers Ranch in the Black Forest region of Colorado Springs. This design is a spectacular 4- bedroom plus a separate office, 5,300 sq ft home with a 1061 sq. ft. attached 4 car garage. The home includes all upgraded items, custom built and lighted kitchen cabinetry, custom made 8' knotty alder doors plus a stone fireplace. The main level includes a master bedroom with large walk-in closet, a second bedroom with bath plus an office with an outside entry. You enter the home from a covered Travertine front porch through a beautiful custom-made entry door. Entering the Gathering room, one cannot escape the expansive views created by the 16-foot high beamed ceiling with hewn beams and a massive stone foreplace. The rest of the main floor is 10' ceilings. The 16 foot retractable sliding glass doors in the Gathering room plus an additional 33 feet of retractable glass doors in the dining room all slide easily into the walls leading to a 864 sq.ft. travertine covered patio offering the sophistication of elegent indoor/outdoor living with endless options for entertainment.The gourmet kitchen is complimented with custom lighted cabinets, A Thor 48 inch double oven range, 2 dishwashers, GE Profile microwave and a 36" Kitchen Aid barbecue and outside beverage chiller/refrigerator on the patio The master bedroom bath features a soaking tub and a walk-in full Travertine shower. The large walk in closet features custom cabinetry. The fully finished basement features custom wood flooring, two bedrooms, a large recreation/game area with a full wet bar including plenty of room for a full-sized pool table and a TV sitting viewing area. Two walk outs to Travertine paver patios adds to the entertainment options of the lower level. Basement does not have central air, just the mail level.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
2022
MLS Number
1043523
Location
Address
4694 Settlers Ranch Road
City
Colorado Springs
State
CO
Zip Code
80908
County
EL PASO (EAST)
Listing
Provider
Flying Horse Realty, LLC, original listing
Name
Flying Horse Realty, LLC
Phone
(719) 641-0806
Office Name
Flying Horse Realty LLC
Office Phone
(719) 641-0806
Agent Name
Philip Bachman

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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.