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4842 Main St. N
Loris, SC 29569
Loretta Smith with Ace Realty, LLC, original listing - (877) 250-1769
$589,900
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
3708 Square Feet
Property Description
This property includes, Main house, Garage with upstairs Apartment and two RV parking spots with water, sewer and electric. Main house was built in 1930s and completely rebuilt by owners that are licensed contractors. No corners were cut. Owners have provided information and pictures of all extensive work completed. But all the character and charm remains. Large spacious living/dining area with fireplace , beautiful floors. The kitchen is a dream come true with large solid surface island and counter tops, high ceilings, beautiful cabinets, and built in seating . Primary suite includes restored claw foot tub, double sinks and wet room area shower. Two guest bedrooms and bath upstairs. Covered front porch for enjoying those southern summer nights, and back porch for entertaining. One bedroom garage apartment with bath, living, kitchen and open covered deck and porch with parking and storage below. There is also additional covered parking both easily accessed by circle drive. In the rear of property has been established with landscaped yard and two RV parking spots with water, sewer and electric. It is zoned multi use, this could allow for additional rental income from apartment, main house and RV Spots. Would be good for multi family living, or utilize the space by giving your guest their own space so they are not in yours. Sitting on Main Street in the small southern town of Loris, you can walk to dining right on main street in the many options and shop local stores and boutques. Loris sits just minutes outside North Myrtle and Myrtle Beach, giving you the peace of small town life just minutes from the grand strand and all it has to offer. Loris is often referred to as the back porch of Myrtle Beach. Primary residence, Multi family, Live work space, rental income, what are you waiting for?
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1937
MLS Number
--
Location
Address
4842 Main St. N
City
Loris
State
SC
Zip Code
29569
County
HORRY
Listing
Name
Phone
(843) 283-6551
Office Name
Office Phone
(877) 250-1769
Agent Name
Loretta Smith
Agency Phone
(877) 250-1769

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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.