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701 Wintergreen Drive
Purcellville, VA 20132
Randy Lau with Evergreen Properties, original listing - (703) 883-3788
$829,900
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
3870 Square Feet
Property Description
This is a brick front home on a corner lot in the sought-after Locust Grove subdivision. This magnificent home offers the perfect blend of comfort, convenience, and community living. The stamped concrete walkway leads to the front door where you can step onto the welcoming two-storied foyer to a warm home with living room to the left, and a study to the right. Walk through the living room is the formal dinning room. Open floor plan connects the dinning room, kitchen and family room which is great for hosting guests or unwinding after a long day's work. The kitchen has granite countertops, stainless steel appliances, a propane cook top on an island, and a breakfast nook. There is a large deck (270 sq feet) which is accessed through the kitchen or the sun room for outdoor enjoyment and summer barbecues. Fully finished basement has multiple rooms to fit you style of entertainment and relaxation. The media room is pre-wired with audio and video cables for easy connection of equipment. There is a wet bar in the game room for your thirst while playing games. This home has an ideal location, just moments away from the W&OD trail for biking, hiking, jogging, or cross country skiing in the winter. For baseball fans, there is the Purcellville Cannons baseball field. Downtown Historic Purcellville has many restaurants, antique shops and more located at the trail head of the W&OD trail. Note: roof of the house was replaced in 2019. New 500 gallon propane tank purchased and installed underground in August 2019. Hardwood floor was refinished in December 2024. Deck will be repainted.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2002
MLS Number
--
Location
Address
701 WINTERGREEN DRIVE
City
PURCELLVILLE
State
VA
Zip Code
20132
County
LOUDOUN
Listing
Provider
Evergreen Properties, original listing
Name
Phone
(703) 263-1155
Office Name
Office Phone
(703) 883-3788
Agent Name
Randy Lau
Agency Phone
(703) 883-3788

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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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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.