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7510 S Hwy 89
Panguitch, UT 84759
$699,900
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
585446 Square Feet
Property Description
This property boasts 13 acres with three hills for endless possibilities. Take advantage of this rare gem sitting above Hwy 89 with a 360 degree picturesque view of the red rock canyons. Look out to miles of ranch land and the Severe River running alongside Hwy 89. Backside property line is BLM land and suggests that you won't have to worry about anyone building behind you. The property is partially fenced with a gate at the entrance. Electricity is available, located at the gate entrance. On the second hill, there is a permitted water well with 1 acre water rights and brand new septic tank installed. No development has occurred on the third hill. The current owners used the first hill as a tipi vacation rental site and have installed three wooden floating decks. New owners can turn these decks into camping/picnic sites and even install RV facilities! The 40ft shipping container is currently a storage but can be turned into a tiny home or office. Take a drive or walk over to the second hill. With plans to build three wooden yurts, this dream getaway could come to fruition with the right person. The current owners put a lot of thought, effort, and hard work into starting the project and are willing to turnover the permitted plans/drawings with the sale of the property. The 3 ft concrete foundation has been installed and the first, largest 30 ft yurt has been constructed. Materials for the bump outs to the two other 20 ft yurts are available but the two 20 ft yurts still need to be purchased and constructed. A brand new septic tank has been installed in front of the yurts and the property comes with a permitted water well and 1 acre water rights. As a commercially zoned property there is boundless potential, don't let this rare opportunity pass you by!
Property Information
Lot Size
13 acre(s) square ft
Property Type
Other-Other
Year Built
--
MLS Number
--
Location
Address
7510 S Hwy 89
City
Panguitch
State
UT
Zip Code
84759
County
GARFIELD
Listing
Provider
ERA Realty Center, original listing
Name
Phone
(435) 592-2172
Office Name
Office Phone
(435) 531-7493
Agent Name
MARI EDDY
Agency Phone
(435) 531-7493

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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.