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1115 Hudson Lake Road
Bartlesville, OK 74003
$730,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
3795
Property Description
A slice of paradise only minutes from Bartlesville. This four bedroom, three bath home is nestled on 5.24 acres of peaceful bliss. Large master suite with French doors overlooking covered patio and gorgeous view of Butler Creek, trees, fields and abundant wildlife. Guest bedroom and bath downstairs with two additional bedrooms and third full bath upstairs. Eat-in kitchen, with custom cabinets and granite counters, which opens to family room with vaulted ceiling, wood burning fireplace with insert and large windows providing a view of covered patio and views below. Second living area or office off of stately entry. Bonus room upstairs can be a game room, play room or additional video room. Home includes oversized two car garage, large floored attic with easy access from upstairs hall and phenomenal Koi pond. The property includes a 50’ x 100’ metal building constructed of 26 gauge steel with 13 foot sidewalls rising to a 16 foot center. Built in 2012 it was constructed on a 6 inch concrete slab over sand base and has both iron rebar and wire mesh reinforcing in the slab. It was built by Lucas Metal Works in Ochelata, Oklahoma. The interior has a second level of wood construction of approximately 4,000 square feet. Combined with the lower level of 5,000 square feet for a total area of 9,000 square feet. There is a 10 by 12 foot tall overhead door with opener and an 8 by 9 foot overhead door as well as pedestrian doors. The building includes a full bath, a kitchenette area and an office and the building is heated and cooled. This is a first-class facility with a multitude of potential uses.
Property Information
Lot Size
5 acre(s) square ft
Property Type
Residential
Year Built
2007
MLS Number
2408272
Location
Address
1115 Hudson Lake Road
City
Bartlesville
State
OK
Zip Code
74003
County
WASHINGTON
Listing
Provider
Berkshire Hathaway HomeServices Anderson Propertie, original listing
Name
Berkshire Hathaway HomeServices Anderson Propertie
Phone
(918) 337-0711
Office Name
McGraw, REALTORS
Office Phone
(918) 337-0711
Agent Name
Howard Thill

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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.