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5807 County Road 342 County Road
Milano, TX 76556
Nathan Cook with BHHS Caliber Realty, original listing - (979) 694-8844
$989,000
Conventional
Property
Bedroom
6
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
2624 Square Feet
Property Description
Connect with nature at this conveniently located 15.07 acre homestead farm in rural Milam County! There are two log homes (1456 sq ft and 1168 sq ft) each having full length front and back covered porches. There is a workshop and a pond on this property plus so much more! The larger 3 bedroom, 2 bath log home, with a split bedroom floor plan, boasts an updated country kitchen with alder wood cabinets, deep farm sink, gas stove (propane), and a cedar slab eating bar. The second log home has 1168 sq feet and 3 bedrooms, 1.5 baths (shower plumbing is in place in the half bath) and an attached gym. The electric 1595 sq ft workshop has 3 roll-up doors and 2 walk doors, plumbing for bathroom, plus a 580 sq ft covered patio totaling over 2100 sq ft under roof. The pond includes a paddle boat, and a park bench for watching kids swim. There are lots of trails in the woods, plus a zip line, and a tree house. There are 2 internet systems on the 50' tower providing fast internet connections: a transferrable Starlink satellite and line of sight Zochnet. There are oaks, giant pines, mulberry, hickory, cedar, and cypress trees. There is a pole barn, and a smaller feed barn with commercial incubator and chick brooder (and attached loafing pen plus milk stand). There is an electric water well and separate manual hand pump well. The fenced “goat yard” with 3 large gates encloses about 10 of the 15 acres and just lacks fencing up the creek side of the property. Comes with an RV that sleeps 6.
Property Information
Lot Size
15 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1985
MLS Number
--
Location
Address
5807 County Road 342 County Road
City
Milano
State
TX
Zip Code
76556
County
MILAM
Listing
Name
Phone
(979) 694-8844
Office Name
Office Phone
(979) 694-8844
Agent Name
Nathan Cook
Agency Phone
(979) 694-8844

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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.