Home for Sale at 97 Bannock Street, Woodland Park, CO 80863

97 Bannock Street
Woodland Park, CO 80863

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Property Details

List Price:	$635,000
Beds:	3
Baths:	3
Status:	Active
SqFt:	2464
Agency:	eXp Realty, LLC

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2000
Notes:	Step into this move-in-ready ranch home in Ranch Estates, where breathtaking views stretch for miles to the north and incredible sunsets await you. The main floor living area features a spacious great room with a bright kitchen boasting granite countertops, a cozy dining area, and a living room with fireplace that showcases expansive views through large windows. Imagine relaxing on the wrap-around deck on the upper level, reminiscent of Colorado mountain living, perfect for grilling and entertaining guests. The walk-out master suite on the main floor offers a luxurious five-piece bath and walk in closet, along with an additional bedroom and bathroom for guests or family members. Descend to the lower level, where you'll find an office space, a bedroom, a bathroom, and a generous recreation room with plenty of room for a pool table, bar, and cozy sitting area that opens to a fenced dog run.<br /> As you step out from the office on the lower level, you'll discover a covered inset hot tub strategically placed for optimal relaxation while soaking in the views. Conveniently located along Bannock, a carport provides space for two cars, with extra parking available along the road and behind the storage shed on this corner lot. <br /> Situated just 15 minutes away from Woodland Park, take a picturesque drive down Edlowe Rd, one of the most scenic routes in Teller County, to reach this gem of a home that offers a perfect blend of comfort, style, and natural beauty.
MlsNumber:	8928068

Listing Provided By:	eXp Realty, LLC, original listing
Name:	eXp Realty, LLC
Phone:	(303) 882-1191
Office Name:	Exp Realty LLC
Office Phone:	(888) 440-2724
Agent Name:	Mary Sekowski MRP
Disclaimer:	Copyright Â© 2024 Pikes Peak Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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.

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.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing