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2812 Coates Road
Jerusalem, NY 14527
Rachel Clark with Keller Williams Realty Gateway, original listing - (585) 256-4400
$229,000
Conventional
Property
Bedroom
3
Bathroom
Full: 1, ½: 1
Property Type
Conventional
Square ft
1794 Square Feet
Property Description
Just minutes from Penn Yan, around the corner from Keuka College, and Keuka Lake State Park with its rustic feel inside and new updated vinyl siding outside, awaits this charming 3-bedroom 1.5 bath home. Located in the picturesque Finger Lakes region, renowned for its beautiful vineyards, breweries, wineries and scenic landscape. This home is within walking distance to Abandoned Brewery and Vineyard View Winery right in the heart of wine country. Picture enjoying your morning and/or evenings on the front porch with the smell of the vineyards right next door. As you enter the home you walk into the open kitchen with an island separating the kitchen from the living room. Lots of cabinet space as well as a large walk-in pantry. A full bathroom is conveniently located off the kitchen on the first floor, while an additional half bath upstairs provides potential to easily expand to two full baths, accommodating both comfort and future growth! Just off the kitchen is also a backroom/office with enough room to be a possible 4th/downstairs bedroom. The heating system in the house is a heat pump that provides heat in the winters and central air in the summer. It is also equipped with a high efficient propane furnace as back up heat. The water heater is a hybrid heat pump water heater which uses very little energy per year to provide hot water to the home. This property combines the tranquility of country living with close access to local amenities and outdoor activities, making it a versatile home with endless possibilities. Schedule your showing today, this home will not last long! Offers will be reviewed on 03/17/22025 at 5:00PM.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1900
MLS Number
--
Location
Address
2812 Coates Road
City
Jerusalem
State
NY
Zip Code
14527
County
YATES
Listing
Name
Phone
(585) 746-3529
Office Name
Office Phone
(585) 256-4400
Agent Name
Rachel Clark
Agency Phone
(585) 256-4400

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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.