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6342 W Elk Refuge Way
Herriman, UT 84096
$739,000
Conventional
Property
Bedroom
5
Bathroom
Full: 3
Property Type
Conventional
Square ft
--
Property Description
Seller to contribute $10,000 towards concessions.. Why wait to build new when this stunning home was just completed last year? Located in a desirable neighborhood, this property offers everything you need for comfortable living. Here are the highlights of this home: * Brand New Construction: Completely finished with modern and updated furnishings. * Spacious Kitchen: The heart of this home is the huge kitchen with double ovens, gas range, quartz countertops, and walk in pantry. Ample counter space and storage make it a chef's dream. * Built-In Office: Features built-in shelving, providing a convenient and organized workspace. * Main Floor Convenience: You'll find 3 spacious bedrooms, 2 bathrooms, and convenient laundry room. Everything you need is easily accessible. * Finished Basement: Boasts a huge family room, ideal for gatherings. Additionally, there are 2 more bedrooms and a bathroom, perfect for guests or growing families. Surround sound entertainment with hookups for a projector. * Outdoor Oasis: Enjoy the serene outdoors on the back covered patio. Whether you want to relax or host a BBQ, this space is perfect for outdoor living. * Move-In Ready: No need to worry about renovations or updates. Don't miss the opportunity to own this newly finished home! Square footage figures are provided as a courtesy estimate only and were obtained from tax data. Buyer is advised to obtain an independent measurement.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2023
MLS Number
--
Location
Address
6342 W ELK REFUGE WAY
City
Herriman
State
UT
Zip Code
84096
County
SALT LAKE (SOUTHWEST)
Listing
Provider
Real Estate Essentials, original listing
Name
Phone
(801) 472-8800
Office Name
Office Phone
(801) 472-8800
Agent Name
Audra Lloyd
Agency Phone
(801) 472-8800

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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.