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476 & 438 N Koa Ave
Burns, OR 97720
$545,000
Conventional
Property
Bedroom
5
Bathroom
3
Property Type
Conventional
Square ft
3178
Property Description
Welcome to this exceptional small farm nestled within the city limits of Burns, Oregon. This unique property boasts many remarkable features and offers a blend of rural charm and urban convenience. Situated on over 1.5 acres of tree-lined land, the main residence, constructed at the turn of the century, has been well maintained. Adorned with large living spaces, custom wood cabinets, ample storage including cedar-lined closets, a spacious kitchen, and a cozy breakfast nook leading to a covered back porch, this home exudes warmth and character. Additionally, the property includes a city livestock permit, allowing for the keeping of horses or other farm animals within the large, fenced pastures. A second dwelling and two garage spaces further enhance the property's appeal. With ample off-street parking accommodating various vehicles, including large RVs or trailers, this property offers both practicality and comfort. To truly grasp the allure of this offering, a personal viewing is essential! FINANCING: Cash, bank financing, and owner-carry options are available; showing with pre-qualified buyers only; PRIMARY HOME: YEAR BUILT: 1919; SQ. FT.: 2,322 sq ft (+/-); one and half story home; HEAT/COOL: Older oil furnace forced air; fireplace insert; no cooling; MAIN ENTRY: Wood floor, oversized wood frame windows, coat closet, and covered entry from outside; LIVINGROOM: Located off the kitchen and main entry; carpet flooring, high ceilings, crown molding, large wood frame storm windows, built-in custom wood cabinets with shelves, fireplace insert, separate seating area; access to the dining area}; DINING: Located off the main entryway and living room; Brazilian teak wood floor, high ceilings, crown molding, large wood frame storm windows, ceiling fan, built-in custom wood cabinets with shelves; KITCHEN: Custom wood cabinets with additional storage, granite countertops with custom tile backsplash, vinyl wood floor, duel farm sink, wood frame storm windows, and breakfast nook (currently used as office space); APPLIANCES: Kitchen - Refrigerator, dishwasher, older Frigidaire electric stove with ovens; no garbage disposal; BEDROOMS: 3 bedrooms • All bedrooms have older carpets, wallpaper, closet spaces with built-in storage, and wood-framed storm windows • One bedroom has dual closets with one being cedar-lined and the other closet having built-in show storage. The second bedroom has a cedar-lined closet while the third bedroom has a small walk-in closet but no cedar-lined closet; BATHROOMS: 2 bathrooms • First Floor Bathroom - tile floor, single sink vanity with wood cabinets, mirror medicine cabinet, shower, and additional storage • Second Floor Bathroom - linoleum floor, single sink vanity with wood cabinets, tub, and additional storage; LANDING: Located off the living room, kitchen, office, and staircase to the second floor; older carpet flooring, custom molding woodwork and wainscoting, built-in shelving, cedar-lined closet, wood frame storm windows; STAIRCASE: The staircase to the second floor is wide with built-in cupboard storage. There are two landings. The stairs are covered with older carpet and there are large windows in the second landing area; HALLWAY: The second-floor hallway is wide with older carpet flooring and hosts a cedar-lined closet. Access to the attic; OFFICE: Located off the back porch and first-floor landing area; tile floor with electric floor heat, wood frame storm windows, storage cabinets, closet space that hosts oil furnace and hot water tank; LAUNDRY: Separate room located off the kitchen providing access to covered back porch area; vinyl wood flooring, Formica countertops, farm sink, electric washer and dryer hookups, additional storage; ROOF: Metal roof; SIDING: Wood siding; needs paint; WINDOWS: Wood frame storm windows; FOUNDATION: Concrete Contact agent for more information on second home.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1919
MLS Number
11274146
Location
Address
476 & 438 N Koa Ave
City
Burns
State
OR
Zip Code
97720
County
HARNEY
Listing
Provider
Jett Blackburn Real Estate Inc., original listing
Name
Jett Blackburn Real Estate Inc.
Phone
(541) 573-7206
Office Name
Jett Blackburn Real Estate Inc.
Office Phone
(541) 413-5660
Agent Name
Colby Marshall

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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.