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2555 Co Rd 265
Somerset, CO 81434
$33,000,000
Conventional
Property
Bedroom
9
Bathroom
6
Property Type
Conventional
Square ft
12440
Property Description
Ragged Mountain Ranch East's 2959 acres are exceptional in every attribute. The ranch is located on McClure Pass, a little over an hour from the Aspen Airport and Snowmass and only 35 minutes to the town of Carbondale, Colorado. Large acreage ranches, bordering public land, near resort communities are rare in Colorado. The ranch has miles of National Forest border, water rights, seasonal creeks, irrigated hayfields, dark timber, aspen groves, and several elegantly restored ranch cabins. The ranch is a rarity with this proximity to a world-class resort town.Stunning views of Ragged Mountain and Chair Mountain from anywhere on the ranch offer the opportunity for many possible trophy homesites with existing underground electric. The restored 'cabins' on the ranch are each defined by their character and history. Immediately upon entering the ranch sits the old 'postoffice.' This fully restored cabin was once an actual post office. Next up as you drive through the ranch are the twin set of pristine Beuten cabins that would be excellent for housing hunters, guests, or ranch staff. The current main house is known as the Clathis House and though modest, has six bedrooms and majesticviews. There is a large shop building and ranch manager's residence also. A hunting cabin and bunk room round out the improvements.The elk and mule deer hunting is superb, with large herds of elk and solitary big bulls and bucks cruising the ranch. Located in over-the-counter GMU 52, hunters may purchase bull elk tags for second and third rifle seasons and archery season wherever hunting licenses are sold. Landowner tags for mule deer and other elk seasons may be applied for through the Landowner Preference Program.
Property Information
Lot Size
2,959 sqft square ft
Property Type
Residential
Year Built
1924
MLS Number
172301
Location
Address
2555 Co Rd 265
City
Somerset
State
CO
Zip Code
81434
County
GUNNISON
Listing
Provider
Fay Ranches, Inc., original listing
Name
Fay Ranches, Inc.
Phone
(719) 890-4590
Office Name
Fay Ranches, Inc
Office Phone
(719) 890-4590
Agent Name
Jim Vidamour

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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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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.