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1389 Southwinds Drive
Lorena, TX 76655
$749,900
Conventional
Property
Bedroom
5
Bathroom
3
Property Type
Conventional
Square ft
3247
Property Description
Nestled in the Royals Ranch Addition, this stunning home offers a perfect blend of luxury and functionality on a 1.13-acre lot. You will love the open floor plan with the expansive picture windows that frame captivating views of the backyard. This home features four bedrooms, two full baths, and one half bath that cater to both comfort and style. The home office, adorned with french doors, provides a tranquil space for work or study. The spacious living room, adorned with a charming stone fireplace, effortlessly connects to the gourmet kitchen featuring beautiful granite countertops, custom solid wood cabinetry, an oversized island with seating, and stainless steel appliances, including double ovens and a gas stove, just off the kitchen is the formal dining overlooking the backyard. The isolated master suite features tall ceilings and a private bathroom with a walk-in shower, garden tub, dual vanities, and a substantial walk-in closet. A pocket door leads to the oversized laundry room equipped with ample storage and a large mud bench, enhancing the home's functionality. Upstairs you will find the versatile space—currently being used as a media room but could easily serve as a fifth bedroom, providing endless possibilities for entertainment or additional living space. The outdoor oasis is designed for both relaxation and entertainment, featuring a covered patio ideal for soaking in the hot tub while enjoying your favorite sports. The fully fenced backyard encompasses a custom patio area, complete with a built-in fire pit surrounded by comfortable seating and two custom swings—an ideal spot for cozy evenings under the stars. Practical amenities include a spacious circle driveway, offering convenience and ample parking. The property's huge lot allows for the potential addition of a workshop and pool. Located in the top rated Lorena ISD and out of city limits. (No City Tax)
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
2018
MLS Number
220718
Location
Address
1389 Southwinds Drive
City
Lorena
State
TX
Zip Code
76655
County
MC LENNAN
Listing
Provider
Remax Centex Realtors, original listing
Name
Remax Centex Realtors
Phone
(254) 230-2011
Office Name
Re/Max Centex, REALTORS
Office Phone
(254) 776-8100
Agent Name
Debbie Scoggins

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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.