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3 W Main Street
Brasher Falls, NY 13613
$259,000
Conventional
Property
Bedroom
8
Bathroom
3
Property Type
Conventional
Square ft
7500
Property Description
PRICE REDUCED!!! This 7,500, 3 story commercial property with parking for 40 vehicles is an excellent investment opportunity in the Center of Brasher Falls, NY. The building was erected in 1847 by the First Presbyterian Church in Brasher. In 1972 the Mason's purchased it and relocated their lodge No. 541 F & A.M. Masonic Temple. In 2005 the Mason's merged with Norwood Lodge and the building was sold to Weller Enterprises. At that time a full remodel was commenced bring the structure back to its original church form. It was remodeled into a state of the art, high tech building with 2.5 miles of CAT-5 wiring, access control systems, central monitored fire and security as well as CCTV creating of the most state of the art buildings in Brasher Falls, besides the school. It now offers3 levels, while keeping as much of the original design and architecture as possible intact it has evolved over the years as the credit card processing business has changed. In 2005 it was purposed as 3 floors of business space, but as that was sourced out less business space was required. In 2020 the lower level was kept as office space with 2 extra-large private offices, a common area, kitchen/ break room, utility room, storage room and bathroom. The second level had temporary, non-load bearing walls put in place, a full kitchen installed, a full bathroom with tile walk-in shower was added and its current use is a 4-bedroom apartment. The third level also had a full kitchen and bathroom with walk-in shower added making that a 4-bedroom apartment as well. Each level providing 2,500 sq. ft. of space. In 2021 the owner installed a new gas Utica boiler that heats the entire building; it was installed with 3 manifolds so that separation is an option, the building also has cental air conditioning on all 3 levels. This is an excellent oppurtunity with many options for potential use and it's priced to sell!!
Property Information
Lot Size
-- square ft
Property Type
MultiFamily
Year Built
1847
MLS Number
49033
Location
Address
3 W Main Street
City
Brasher Falls
State
NY
Zip Code
13613
County
SAINT LAWRENCE
Listing
Provider
Trego Realty Group, LLC, original listing
Name
Trego Realty Group, LLC
Phone
(315) 705-5542
Office Name
Trego Realty Group, LLC
Office Phone
(315) 705-5542
Agent Name
Lori Snyder

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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.