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13154 Wv Hwy 47w
Smithville, WV 26178
Isaiah Sattelmaier with Central WV Real Estate, LLC, original listing - (304) 462-5997
$299,000
Conventional
Property
Bedroom
3
Bathroom
Full: 2
Property Type
Conventional
Square ft
1500 Square Feet
Property Description
Take the high ground by capturing the opportunity to own this beautiful piece of real estate. There is no shortage of sight seeing opportunities at this rural residence, featuring a ranch style home looking out over the quiet valleys of Gilmer Co / Ritchie Co, and a full wrap around porch where the nature lover can enjoy spectacular birds eye views looking out over the hills beyond the home. Also, with a nice flat yard spanning the front of the acreage, there is ample space to utilize the land and add additional structures if desired. The ranch style home, with brick exterior was built in 1985, and offers 1500 sq. ft. of living space. Upon entering the home you will find a spacious living room with hardwood floors, and a fireplace that lends itself to being the focal point of the living space. The kitchen is connected to the living room and features wrap around countertops and cabinets, and amenities in keeping with modern convenience. With regard to bedrooms, you will find a pleasant master bedroom with its own full bathroom, and two additional bedrooms each with their own closet space. Handily tucked beside the kitchen you will find a laundry space, and one can also appreciate the practicality of the deep closet in the living room as well. The main bathroom offers a large vanity space and a small closet. The house has an unfinished partial basement used as a storage area, and is equipped with an efficient baseboard boiler heating system. There is a 2000 gallon cistern fed by a roof runoff drain system that serves as a present source of water. There are 3 wells on the property which are currently not in use and need inspected. As per the owner, free gas rights will convey to the buyer. In addition to the home and 4 acres, the seller is also including a separate tract of land consisting of a cabin with 77 acres. Located near the end of a quiet county road just minutes from the home, the land features plenty of flat tillable acreage, with a meandering stream offering room for a limited amount of livestock. There are beautiful hardwood hillsides looking down on the cabin which is in need of TLC and renovation. The free gas rights, as per owner, will convey. The cabin site has a fully functioning water well, running electricity, and an older septic system. The hunting is excellent in this area. There are no restrictions or zoning on this acreage which would it make an excellent hunting camp, with additional home or cabin sites. The seller states that the timber has not been harvested in over a decade. The seller requests no drive bys and shown by appointment only.
Property Information
Lot Size
82 acre(s) square ft
Property Type
Residential-Single Family Attached
Year Built
1985
MLS Number
--
Location
Address
13154 WV HWY 47W
City
Smithville
State
WV
Zip Code
26178
County
RITCHIE
Listing
Name
Phone
(304) 462-5997
Office Name
Office Phone
(304) 462-5997
Agent Name
Isaiah Sattelmaier
Agency Phone
(304) 462-5997

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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.