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640 Fern Street
Huntington, WV 25701
$759,000
Conventional
Property
Bedroom
5
Bathroom
6
Property Type
Conventional
Square ft
7971
Property Description
One-of-a-kind, 5,179-sq.ft. modern French country 2.5 story, nestled among three spacious, wooded lots totaling 1.5 acres in the City of Huntington's desirable Park Hills district. This Striking home is located amidst towering trees in a terraced, semi-rural sylvan setting. Clad with a neutral, earth-tone stucco facade, the home offers spectacular views overlooking downtown, Ritter Park and the Ohio River. It offers tranquil living just a short distance from the amenities of downtown (7 minutes), combined with easy access to nearby Marshall University (10 minutes) and Interstate-64 (5 minutes). Covered porch entryway leads to a large gathering room, featuring vaulted ceiling, marble-trimmed gas fireplace, bookshelves, and expansive French doors leading to a 24' by 12' fenced deck. Adjacent there is a large formal dining room. Fully equipped kitchen (two ovens, chef's gas range, microwave, dishwasher, disposal, wine refrigerator, bodega/pantry) is adjoined to a well-lit breakfast/hearth room, with access to central deck and large screened porch. Large primary carpeted first-floor bedroom features expansive, separate his/her bathrooms with marble floors; central deck access; and a large extensively-appointed, walk-in closet. Bedroom windows all with plantation shutters. Upstairs boasts two, separate second floor wings. The upstairs west wing offers two carpeted bedrooms (with large closets, separate en suite baths and Juliette balcony access) and a well-lit gallery/study area. The upstairs east wing includes one large, closeted room outfitted with a complete home gymnasium (Peloton indoor bike, Weider 9300 universal in-home gym, Everlast heavy boxing bag), and the other large, closeted room available at homeowner's pleasure for storage or overflow guests. The home's lower level features another bedroom with en suite bath and walk-in closet; a game room equipped with classic pool table and wall-mounted TV; and a transitional-style corner bar with refrigerator and sink. This level includes extensive, separate storage rooms, and outdoor access to a private patio. The home's large driveway can accommodate six vehicles. The oversized, two-car garage is finished, and enhanced with a sturdy workbench and separate NewAge seven-piece cabinet system with 7' by 2' worktop. In addition to providing lawn/landscaping maintenance entree, side-yard thruway from garage's two, rear barndoors enables access to outdoor air conditioning equipment, Generac Guardian backup power generator and an enclosed potting bench.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1998
MLS Number
178618
Location
Address
640 Fern Street
City
Huntington
State
WV
Zip Code
25701
County
CABELL
Listing
Provider
RE/MAX Clarity, original listing
Name
RE/MAX Clarity
Phone
(304) 767-3434
Office Name
RE/MAX CLARITY
Office Phone
(304) 525-7653
Agent Name
Jill Nelson

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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.