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701 13th
Alva, OK 73717
$460,000
Conventional
Property
Bedroom
5
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
Here is an exquisite 1 ½ story brick home with 5,406 square feet MOL of total living space. There are two attached garages; one is a single-car, and the other is a double-car garage. There are 5 enormous bedrooms and 3.5 bathrooms. The main level is 3,619 sq. ft MOL. The upstairs is 1,109 sq. ft. MOL and the basement is 678 sq. ft MOL. The home sits on a shaded hilltop surrounded by large, beautiful trees, and an inviting brick entry. Step inside the entry way where there are large sliding barn doors that lead into a sunken formal living room with beautiful crown molding and elegant chandeliers. To the left of the entryway is the formal dining room with built in hutches and it is located just off the kitchen. The kitchen has an abundance of storage and granite countertop space. There is an island with a 6-burner gas built-in cooktop and vent hood. Double built-in wall ovens surrounded in brick, and a kitchen wet-bar and bar sink which is equipped with a reverse osmosis system. The kitchen also has an eat-in area with a built-in hutch. The large family living room is open to the kitchen. It has beautiful ceiling beams, a woodburning or remote-controlled gas fireplace, and patio doors that lead to the outdoor area. Through the kitchen on the South end of the home is one bedroom, a laundry room, bathroom, and garages. On the North side of the main level is the large master suite. It has an abundance of storage and closet space! The bedroom and the bathroom are both very spacious. There is a double-sink vanity, a large makeup vanity, an enclosed toilet room and a sunken Japanese style shower. Upstairs are three bedrooms, two of which are large enough to be living rooms! There is a full bathroom with a tub/shower combo and a hallway walk-in cedar lined closet. The owners put in a new air conditioning system for the upstairs in 2023. The basement is the perfect space for a game room or hang-out spot with plenty of room for a pool table, games, and a living area. There is a bathroom and a woodburning fireplace, as well. Pool table and Ping Pong table stay with the home. Step out back to the large private brick patio area for relaxation or fun. It’s the perfect space for kids to play and ride their toys or it’s a fantastic spot to relax and unwind after a long day! This patio space is set up for tranquil Koi ponds and professionally designed water streams. It just needs to be hooked back up! There is a concrete pad on the second tier of the design for a hot tub. The home is on a sprinkler system and there is a custom dog pen with hot and cold water. Pictures do not do this home justice – you MUST SEE! The home has a ton of storage space. Every room is LARGE, and you can tell it has had a lot of love throughout its lifetime. It is situated on a quiet street with trees and beauty year-round. It is next to the Catholic Church’s playground and is also near the high school, city park and upcoming city pool.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
--
MLS Number
20240532
Location
Address
701 13th
City
Alva
State
OK
Zip Code
73717
County
WOODS
Listing
Provider
Real Broker LLC, original listing
Name
Real Broker LLC
Phone
(855) 450-0442
Office Name
Real Broker LLC
Office Phone
(855) 450-0442
Agent Name
Jessica Smith

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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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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.