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33485 Arabian Way
Oak Creek, CO 80467
$930,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3076
Property Description
Nothing compares to that perfect place you have been searching for with endless possibilities. Step into this exceptional home overlooking more than 150 acres of common area open space for serenity at its best. Custom 3 bedroom plus loft plus bonus office/den with two large living areas and expansive views. The main level primary suite enjoys a private bath with double sink, separate shower, jet tub and walk-in closet with custom built-ins. Enjoy the view as you sip coffee in bed on a gorgeous morning. Expansive deck allows for outdoor entertaining with easy propane hook up for your grill. Cross country ski, sled down the hill or take a moonlit snowshoe right from your back door. The area is great for gravel biking, hunting, hiking, or heading to the Stagecoach Reservoir for boating, fishing and more. Only 23 miles from the Steamboat Ski Area and 13 miles from Oak Creek. The owner's have enjoyed so much great family/friend time here in their private sanctuary. Nice open great room with vaulted ceilings, cozy wood stove, wood floors and radiant heat. The kitchen boasts a Wolf Stove, stainless appliances, granite/butcher block counters, custom backsplash all open to the great room. Work from home in the loft as you enjoy the view or for more privacy use the bonus room in the lower level as your home office. Large second family room on the lower level includes a wet bar with plenty of room for a pool table, ping pong or relaxing area for movie and game nights. The lower level gas stove keeps you toasty in winter too. Walk out to the backyard for a game of cornhole, to relax in a hammock, play in the sandbox or tp enjoy the sandhill cranes. This 3076 square foot home sits on 0.61 beautiful acres. The front and back have a sprinkler system and lovely gardens. The new Noble Boiler is 95% efficient to keep the home warm, and the home has a freshly stained exterior. If you have been searching for the perfect mountain getaway, call for a private showing today.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2003
MLS Number
SS3868646
Location
Address
33485 ARABIAN WAY
City
Oak Creek
State
CO
Zip Code
80467
County
ROUTT
Listing
Provider
JOH Steamboat LLC dba Steamboat Sotheby's Internat, original listing
Name
JOH Steamboat LLC dba Steamboat Sotheby's Internat
Phone
(970) 879-8100
Office Name
Steamboat Sotheby's International Realty
Office Phone
(970) 879-8100
Agent Name
Lisa Olson

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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.