Home for Sale at 432 Seventh Street, Bay Saint Louis, MS 39520

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432 Seventh Street
Bay Saint Louis, MS 39520

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Property Details

List Price:	$279,900
Beds:	4
Baths:	2
Status:	Active
SqFt:	2608
Agency:	RE/MAX Along The Way

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2005
Notes:	REDUCED! Great value for this large home on a corner lot near all the best of ''The Bay''. Multiple unique arched entryways, bonus room with built-in bar, several dining options, split bedroom plan, and more! Primary bedroom gives access to screened back porch & bath includes tub, shower, his/her closets, and double vanity. Other bedrooms are very nicely sized and guest bath also has double vanity. Spacious bonus room with wet bar is full of natural light and has its own entrance from side driveway. Screened porch overlooks rear paved patio where the centerpiece is a built-in waterfall that spills into small pond. Detached workshop equipped with power and shelving. Circle drive parking in front and 2nd paved driveway to side. Old Town Bay St. Louis, bordered by the beach and home to many of the Coast's top options for dining, nightlife, local artists, and unique boutique shopping, is easily accessible in under 5mi. Many other amenities are also nearby, including casinos! Buyer may use lender of choice; however, seller requires all non-cash offers be supported by a pre-qual from Caliber Home Loans, Inc. prior to acceptance. Contact an agent for pre-qual details & contact info. Minimum earnest requirement is 1% of sales price or 1k minimum.
MlsNumber:	4076641

Listing Provided By:	RE/MAX Along The Way, original listing
Name:	RE/MAX Along The Way
Phone:	(228) 863-0617
Office Name:	RE/MAX Along The Way
Office Phone:	(228) 863-0617
Agent Name:	Emily K Clemens
Disclaimer:	Copyright Â© 2024 MLS United. 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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