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469 Laurel Ln
Bluemont, VA 20135
Diana Geremia with Purcellville Gateway, original listing - (888) 536-0216
$550,000
Conventional
Property
Bedroom
3
Bathroom
Full: 2
Property Type
Conventional
Square ft
--
Property Description
This is an amazing opportunity -this home in Shenandoah Retreat has 2 sunny finished levels with 3 Bedrooms and 2 full baths. This home is loaded with natural lighting. The upper level has a kitchen that is open to dining room/ sitting area and 2 bedrooms with a full updated bath. Walk out from the primary bedroom or the kitchen area onto a huge covered deck that could be screened in. On the lower level is a large family room, a full bath and 3rd bedroom. There is also a secondary 2 level structure that could be a workshop, a bar room, office/ studio which needs to be completed. That building also has an upper level deck which needs work and a lower level to be completed. There are 2 additional sheds on the property for storage. PLUS 2 additional lots that convey with the home (.28 acres) . There is a second approved conventional drainfield ( cert needs to be updated) and the total lot size sold with the house is 1.068 acres for a total conveying lot of 1.35 acres. The back yard has wood views and the front faces the beautiful mountain in the far off distance. The home is in need of projects to be finished but it has so so much potential. Minutes to Loudoun just over the line in Clarke County so you save on taxes. Note: The pool is not in working order- it is surrounded by a lower level deck and is an above ground pool but could all be removed as it is not at all in working order. The upper deck is a wrap around covered back porch to the home, it could be screened in easily and needs some work. The kitchen cabinets painting needs to be completed( doors are currently off the cabinet front but are there. This house is a diamond in the rough. Backs to trees for a relaxing setting and minutes to Rt 7 for an easy commute. Access to Shenandoah River in the Retreat.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1994
MLS Number
--
Location
Address
469 LAUREL LN
City
BLUEMONT
State
VA
Zip Code
20135
County
CLARKE
Listing
Name
Phone
(888) 536-0216
Office Name
Office Phone
(888) 536-0216
Agent Name
Diana Geremia
Agency Phone
(888) 536-0216

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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.