Home for Sale at 180 Paddock Ln, Simpsonville, KY 40067

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180 Paddock Ln
Simpsonville, KY 40067

Kristin Hoch with Weichert Realtors-ABG, original listing - (502) 893-1900

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Property Details

List Price:	$1,100,000
Beds:	3
Baths:	Full: 3, ½: 1
Status:	Active
SqFt:	3883 Square Feet
Agency:	Weichert Realtors-ABG
Agency Phone:	(502) 893-1900

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Description/Comments

Lot Size:	10 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1982
Notes:	A rare opportunity to purchase a 10-acre horse property with a beautiful, move-in ready home in a premier Simpsonville location on a dead-end road. This brick and stone home features three bedrooms and two and a half bathrooms on the main floor, plus separate family rooms. The gourmet eat-in kitchen has beautiful views of the horse paddocks. In the basement you'll find a mudroom with entry from the two-car garage, onto a recreation room, a den that can be used as an extra bedroom (no egress window) , as well as a full bathroom. Since purchasing the home, the current owners built a custom 60 x 40 workshop/garage featuring two oversized garage doors as well as two 60 x 8 overhangs on each side of the building, as can be seen in the photos. The building is also insulated, has power, and has a loft area that can be used for extra storage. Behind the home there is a 40 x 30 barn with three stalls already built in, and room to add additional stalls. This barn also includes a 12 x 40 overhang, which could be used as cross ties or simply a place to hang out and watch over your horses. Right next to the barn is a 55 x 160 foot sand riding arena. There are five four board paddocks on the property, one of which has a two-horse run in located inside. This property is a horse lover's dream offering so many possibilities and we are confident you will fall in love!
MlsNumber:	--
ListingId:	1674109

Listing Provided By:	Weichert Realtors-ABG, original listing
Phone:	(502) 468-3363
Office Phone:	(502) 893-1900
Agent Name:	Kristin Hoch
Disclaimer:	Copyright © 2024 Greater Louisville 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