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1161 Lynn Creek Road
Jacksboro, TX 76458
Dan Combe with WELCOMBE HOME LLC, original listing - (817) 800-0007
$1,975,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
Dramatic elevation changes and views on this Dream Ranch with over 130 Acres of Wildlife and Whitetail Rich Land, and a powerful and fresh water well, is on the market for the first time since the year 1897. This stunning legacy ranch includes a naturally flowing, smooth stone basin creek known for its fresh water, and it is called Lynn Creek. This creek flows freely for months every year, while onsite ponds have yet to run dry throughout the harshest draughts. This spectacular and spacious family retreat includes a huge covered patio in front of a custom Norvill Barndo that has 4 Bedrooms, spray foam encapsulation, was built post 2020 with stunning kitchen, massive pantry and low electric bills. Additionally you'll have an insulated and power packed barn with outstanding lighting and large overhead doors to house all your toys, equipment, tools and trophies. This property also has a third barn for livestock, updated fencing in many areas and easy access throughout this Oak and Mesquite filled property. You will be challenged to find any of those water sucking allergy monsters known as cedar trees as we could not find but one. If you can take a picture of a single cedar tree on your tour, just snap a shot and show us where it is and we will gladly cut it down and remove it before closing if you'd like. Some properties have cedar trees while others have good water. Give it a look and we feel you'll see why this family has cherished this land for over 125 years. Don't wait.
Property Information
Lot Size
130 acre(s) square ft
Property Type
Land-Other
Year Built
2020
MLS Number
--
Location
Address
1161 Lynn Creek Road
City
Jacksboro
State
TX
Zip Code
76458
County
JACK
Listing
Provider
WELCOMBE HOME LLC, original listing
Name
Phone
(817) 800-0007
Office Name
Office Phone
(817) 800-0007
Agent Name
Dan Combe
Agency Phone
(817) 800-0007

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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.