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393 3144
Quitman, TX 75783
Linda Elliott with Clements, REALTORS®, original listing - (903) 342-5245
$375,000
Conventional
Property
Bedroom
5
Bathroom
Full: 2
Property Type
Conventional
Square ft
2000 Square Feet
Property Description
*Charming 5-Bedroom Home on 6.85 Acres Near Quitman, TX** Discover your dream home just 5 miles outside of Quitman, TX! This spacious 5-bedroom, 2-bath residence is perfect for a growing family or anyone in need of extra space for an office, craft room, or playroom. Step inside to find a welcoming living room and adjacent dining area, along with an additional room that can serve as a den or family room. The full-sized kitchen flows seamlessly into the laundry room and a versatile mud/multipurpose room that leads to a covered back porch—ideal for that Grill or Smoker or just relaxing and entertaining. The home features stylish wood laminate and tile flooring throughout, ensuring a low-maintenance living space with no carpet. Outside, enjoy the convenience of a two-car carport and a small shed with a finished portion equipped with a split unit for heating and cooling. Dive into summer fun with an above-ground pool and covered deck, perfect for family gatherings and relaxation. For those who appreciate country living, a 360 sq ft shop with both overhead and walk-through doors provides ample space for hobbies or storage. The entire property is securely fenced, featuring an access gate from the homestead acre to the adjacent 5 acres, along with a front driveway gate to keep your yard safe for family and pets. Seller offers option to purchase the house on 1 acre with all associated amenities within that fenced acre. Safety is a priority with a storm shelter conveniently located off the back porch, offering peace of mind during East Texas storms. A digital security system is wired to all windows and doors. This property is also a short drive from the charming town of Winnsboro, TX, where you can enjoy local shopping, a farmers market, and a variety of community events throughout the year. Don’t miss out on this unique opportunity to own a slice of country paradise! Acreage around property is owned by neighbor and is available for purchase.
Property Information
Lot Size
6 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1995
MLS Number
--
Location
Address
393 3144
City
Quitman
State
TX
Zip Code
75783
County
WOOD (COUNTY)
Listing
Name
Phone
(214) 673-5455
Office Name
Office Phone
(903) 342-5245
Agent Name
Linda Elliott
Agency Phone
(903) 342-5245

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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.