Home for Sale at 5011 Canyon Grove Drive, Katy, TX 77493

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5011 Canyon Grove Drive
Katy, TX 77493

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Property Details

List Price:	$357,900
Beds:	3
Baths:	2
Status:	Active
SqFt:	1631
Agency:	LGI Homes

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Description/Comments

Lot Size:	--
Property Type:	Other
Year Built:	--
Notes:	Step into this fantastic single-story home where every corner is brimming with charm and style.. As you walk through the entry you will find yourself in the fully loaded kitchen, a culinary paradise that's ready to turn you into a gourmet chef. The pristine white cabinets and sleek granite countertops are like a blank canvas waiting for your culinary masterpieces. The angled island adds a fun twist to meal prep, making it a hub for both cooking and conversations. Off the kitchen is the spacious family room, a cozy haven for movie nights and gatherings with friends. It's the perfect spot to unleash your inner decorator with endless possibilities for personalization.The private master bedroom is a sanctuary of its own, featuring two large windows that fill the room with natural light. The master bath is truly impressive, highlighting modern fixtures, a spacious walk-in closet and all the amenities needed for relaxation and pampering. But wait, the excitement doesn't end indoors! Step outside and discover the impressive covered outdoor living area. This alfresco oasis is like your personal retreat to paradise. With a large, shaded patio, it's the perfect place to host barbecues, lounge with a book, or simply unwind. Whether you're a star chef grilling up a storm or simply enjoying a lazy afternoon, this outdoor space provides the ideal backdrop for countless unforgettable moments.The Basswood plan at Sunterra features an array of modern upgrades at no added cost to you. A full suite of stainless steel kitchen appliances, sprawling granite countertops, 42 upper wood cabinets with crown molding and hardware, blinds throughout, a covered outdoor living area and luxury vinyl plank floors are just a few of the desirable upgrades that come standard in the Basswood plan.
MlsNumber:	2768004

Listing Provided By:	LGI Homes, original listing
Name:	LGI Homes
Office Name:	Terrata Homes
Disclaimer:	Copyright Â© 2024 DRB Group (BDX). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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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