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1277 Patchin Hwy.
Cherry Tree, PA 15724
$179,000
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
1568
Property Description
Ruby’s Gem is a very nice home sitting on 4 acres of land in the rural setting of southern Clearfield County. The Seller is a third generational owner. Although she holds many nostalgic memories, she believes it is time to let this gem pass onto a new buyer. The Seller’s grandfather, a talented craftsman, built the home around 1927. The unique features of his quality work are evidenced by the sound structure, and the detail in the woodworking. The home has a history of being well maintained and cared for by the Seller’s grandmother, Ruby, and her mother. This is quite unique to have the same family caring for a home from the original construction for almost 100 years. Ruby’s Gem is two story house, accented with the good old fashioned farm style wrap around porch. It is a friendly reminder that porches used to be big! An 8-foot porch wraps completely around the front and right side of the house. The side entrance has an 8’ X 14’ porch. The 4-acre lot is mostly cleared and lies behind the house. There is plenty of room for a garden, or even could be considered for keeping some animals. The home is located just over 1 mile north of the small town of Cherry Tree along Route 219. The home maintains much of the beauty from the original construction. The first floor has hardwood floors, with tile in the kitchen. Original cabinetry is in the kitchen, along with an added island. Heat is hot water radiators, supplied by an oil boiler, which was newly installed in December 2017. A new electric water heater was also installed in 2017. The gas stove is served by propane, along with a propane wall heater in the basement. A culligan water treatment system is installed. All appliances are included. The Seller’s mother had a great interior design talent, which is featured throughout. The home is being sold with all furniture and contents, along with most of the wall art, artifacts, and pictures. A buyer can move into their new home fully supplied. The pots, pans, dishes, and silverware are in the cabinets, just bring the milk and eggs! The beds are made up and you will find extra linens in the closet. The Seller will be removing some selected personal items from the home and garage. An added feature of this property is the 4-acre lot. A little less than an acre is lawn. The remaining 3 acres has been mowed yearly to maintain as open field. There is a small pocket of trees in the northeastern corner. Within a short distance from the house is a two-car garage (18’X 20’), which has been used for keeping the car in and lawn equipment. This quality property could be considered for single family residence, second home, Airbnb, or rental. The location of Ruby’s Gem adds some nice recreational amenities. Within 5 minutes is the Chetremon Golf Course, along with Beaver Run, a wild trout stream. State Game Lands 185 is 15 minutes away. Within 40 minutes is Ghost Town Bike Trail, Prince Gallitzin State Park, and Rock Run Recreation Area (ATV Riding). The Susquehanna River is nearby which offers fishing and kayaking. Ruby’s Gem – Welcomes you to rural PA!
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
--
MLS Number
--
Location
Address
1277 Patchin Hwy.
City
Cherry Tree
State
PA
Zip Code
15724
County
INDIANA
Listing
Provider
Name
Phone
Office Name
Timberland Realty - Falconer
Office Phone
(716) 962-9935
Agent Name
Ron Westover

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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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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.