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2600 W 1st St
Loveland, CO 80537
$985,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3822
Property Description
3822 SF RANCH HOME WITH 4000 SF SHOP THAT FEATURES A 1 BEDROOM APARTMENT, ALL ON 3 IN TOWN ACRES! The house itself is beautiful with a welcoming entry way and an open and well thought out floor plan. The living room has a freestanding fireplace set up that is so unique with cool features like sliding mini barn doors and a secret side door to hide all the video/audio equipment, surround sound receivers, CD's, movies etc. There are 2 bedrooms on the main level including the spacious primary with 5 piece bath. The kitchen is open to the living room, has lots of counter and cabinet storage, a pot filler over the stove and has a separate dining room area with additional built-in storage. The finished walk-out basement has 2 additional bedrooms, each with their own sitting area, and a wet bar in the living area that leads out to a huge patio that is perfect for entertaining and features views of the Rockies. The yard has so much to offer with 2 separate sitting areas and various fruit trees; however, there is so much room you can customize it to your taste! In addition, there is a 3 car attached and oversized garage. The 1 bedroom apartment includes a kitchen and 3/4 bath that could generate extra income PLUS a 2nd apartment could be added as there is room to add a kitchen. A bathroom/laundry and an additional rough-in is already in place, bring your creativity! With all of that, you still have a massive shop with an 11 x 11 overhead door and commercial grade electrical. INVESTORS, with R2 zoning on this 3 acre property, you can build an additional dwelling or shop without subdividing and it can also be subdivided with even more options available. **PROPERTY TO BE SOLD IN AS-IS CONDITION** THE SEWER LINE WILL BE CONNECTED TO TO THE CITY SEWER SYSTEM PRIOR TO CLOSE.
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
1971
MLS Number
998688
Location
Address
2600 W 1st St
City
Loveland
State
CO
Zip Code
80537
County
LARIMER
Listing
Provider
Resident Realty, original listing
Name
Resident Realty
Phone
(970) 282-8585
Office Name
Resident Realty
Office Phone
(970) 282-8585
Agent Name
Team Twito

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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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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.