Home for Sale at 8156 Fairview Road, Duffield, VA 24244

8156 Fairview Road
Duffield, VA 24244

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Property Details

List Price:	$300,000
Beds:	3
Baths:	2
Status:	Active
SqFt:	3375
Agency:	Blue Ridge Properties

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Description/Comments

Lot Size:	1 acre(s)
Property Type:	Residential
Year Built:	1978
Notes:	OH, TO LIVE IN THE COUNTRY! Get away from the noise and traffic and have room<br /> to breathe when you make this 3 bedroom, 2 bath brick ranch your new home. This<br /> one owner home is so inviting, with its big covered front porch and views of the mountains<br /> and countryside. Step inside, and you'll find a spacious living room with fireplace, huge <br /> kitchen/dining with tons of cabinets and beautiful granite countertops. The big laundry room<br /> is just off the kitchen, and a wonderful den will be a great place to spread out for the family <br /> gatherings. There is a combination of glowing hardwood and parquet floors, carpet and tile.<br /> There are three bedrooms, all well sized, a hall bath, and the master bedroom has its own bath.<br /> A huge basement offers plenty of storage space, with both inside and outside entrances. Outside,<br /> there's an attached carport that makes it so easy for unloading the groceries or just to keep the <br /> car in out of the weather. There's also a brick dairy for the garden vegetable storage, a huge double<br /> car detached garage, and another storage building. The lot has just been surveyed and is 1.545 acres and<br /> will offer plenty of play area for the kids, or a great garden space. A great place to call home!
MlsNumber:	9959893

Listing Provided By:	Blue Ridge Properties, original listing
Name:	Blue Ridge Properties
Phone:	(423) 247-4181
Office Name:	Blue Ridge Properties
Office Phone:	(423) 247-4181
Agent Name:	Ricky Reed
Disclaimer:	Copyright Â© 2024 Tennessee Virginia Regional Multiple Listing Service. 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