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3319 N Us Highway 281
Burnet, TX 78611
$849,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3166
Property Description
Seller Financing Available. Commercial/Residential! No Zoning/Burnet ETJ. Stately Mid Century home and detached tiny house sit on 2.88 beautiful scenic acres just outside the City of Burnet with 205' of Hwy 281 frontage. Although historically for residential use, the location allows commercial as well thus offering a wide variety of potential uses. The main home sits off the highway toward the middle of the tract (see survey) with circular asphalt drive way and large heritage oak trees in front and back. The trees themselves are a sight to behold! The 2800 sq.ft. home is all brick with a 6' brick and iron fence surrounding a large back yard. It has 3 bedrooms/2.5 baths, 2 living room areas, and a 2 car garage. A modern 250 sq.ft. apartment/studio sits separate and is equipped with a small kitchen, full bathroom and lofted sleeping quarters. Both structures were extensively remodeled in 2022 with modern contemporary finishes but incorporating and keeping the mid century style that this house embodies. Not only were the finishes and decorative features replaced but also the basic mechanicals including new roof, full electrical rewire, HVAC, On demand water heater, new plumbing, windows and doors in both houses. A second floor was added to the tiny house for a comfortable stand up loft. The houses were thoughtfully finished with designer touches and high quality materials such as semi custom wood cabinetry, Italian and Spanish tile in kitchen and bathrooms, hardwood flooring, and quartz countertops. The mid century style screen between the living areas and the rustic wood mantle was created by local artisan Lee Westphal Studios. The kitchen island was purchased at Birdie's Market and is a genuine French Harvest Table. There are so many features that an attached document will provide an exhaustive list of all the things. This house and land are a must see to really appreciate. It offers so many options for use. It's truly a rare property and opportunity.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1959
MLS Number
2249453
Location
Address
3319 N US Highway 281
City
Burnet
State
TX
Zip Code
78611
County
BURNET
Listing
Provider
Keller Williams Realty International, original listing
Name
Keller Williams Realty International
Phone
(512) 448-4111
Office Name
Keller Williams - Austin SW
Office Phone
(512) 448-4111
Agent Name
Denise Lewis

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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.