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8549 Lorene Street
Kingston, OK 73439
$799,900
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3743
Property Description
This gorgeous 3BR 3BA home blends elegance with practicality. The living area offers serene views of the backyard, often visited by local wildlife. A ventless RC fireplace adds warmth and ambiance. The kitchen features a bar that can comfortably seat seven, a kitchen island with a Jenn-Aire range, and dual convection built-in ovens. The walk-in pantry doubles as a safe room, combining convenience with peace of mind. Formal dining and a breakfast area ensure plenty of seating. Retreat to the upstairs media room and its wet bar area with seating for four, a 2-zoned wine cooler, beverage cooler, and refrigerator. It is pre-wired for surround sound and includes under-couch outlets. The primary bedroom offers an additional sitting area and private patio. Levolor Cellular shades make the most of the lighting and the spacious walk-in closet has 2-tiered hanging. The en-suite bathroom has two separate vanities, a custom cultured marble jetted tub, and a glass shower. The property also houses an office with backyard views, an inviting library with large windows, and a utility room with amenities. Craftsmanship is evident in the custom woodwork/cabinets and granite or cultured marble countertops. The flooring is beautiful oak hardwood, tile, and carpet. The home comes with a Culligan water purification system, a tankless water heater, sprinkler system, anaerobic system, and gutters. It was built with 39 pillars supporting the slab down to the bedrock for extra durability. The property is pre-wired for ethernet, satellite/cable TV, local TV, a landline phone, and comes with a security system and motion sensor flood lights for added security. The exterior is finished in attractive Austin stone. The yard features 6 raised garden beds. The home has Energy Star windows and upgraded attic insulation. The 3-car garage is fitted with workbenches throughout. This Texoma lakefront home sits on almost 1 acre of land. Lake Texoma is located between the borders of Oklahoma and Texas.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2008
MLS Number
2400434
Location
Address
8549 Lorene Street
City
Kingston
State
OK
Zip Code
73439
County
MARSHALL
Listing
Provider
Keller Williams Realty Ardmore, original listing
Name
Keller Williams Realty Ardmore
Phone
(405) 701-5217
Office Name
Keller Williams Realty Ardmore
Office Phone
(580) 319-7425
Agent Name
Tom Love

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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.