Home for Sale at 000 NW HWY 183 Highway, Lometa, TX 76853

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000 Nw Hwy 183 Highway
Lometa, TX 76853

Justin Witt with Capitol Ranch Real Estate, original listing - (855) 968-1200

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Property Details

List Price:	$1,294,800
Beds:	2
Baths:	Full: 1
Status:	Active
SqFt:	1020 Square Feet
Agency:	Capitol Ranch Real Estate
Agency Phone:	(855) 968-1200

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Description/Comments

Lot Size:	104 acre(s)
Property Type:	Farm-Farm
Year Built:	--
Notes:	104+/- Acres with ultimate views, opportunity, and bountiful recreational possibilities. Strategically maintained and improved for the avid sportsmen in mind. With the proximity to town being a hop and a skip, the Baggett Ranch also has good seclusion from 183. The property has undergone extensive pasture reclamation by removing and clearing selective mesquite and undergrowth all while maintaining excellent cover for wildlife. In place of the clearings, you will find new improved pastures that are planted each year for food plots. On the property you will also find a fully remodeled 2-bedroom, 1-bathroom cabin featuring its own saloon, rainwater catchment system, and covered cleaning station. There is plenty of room for guests or can be used as a temporary stay while another structure is built atop the hill. 4 deer blind setups are in place with each having a corn feeder that feeds year around. A new 1500-gallon water tank supplied with rainwater to generate additional water to wildlife. 2 ponds are located on opposite ends of the ranch with multiple other spots for additional tanks. The topography on the ranch lends elevation changes of up to 120 ft. and has the ultimate build spot on top of the hill. A small road has been cut to provide easy access to the top of the hill where you find some of the best views in the county. Access is via a gated easement, adding to the privacy of the property before you get the custom-built entrance to the ranch. Wildlife exemption and electricity are in place.
MlsNumber:	--
ListingId:	169246

Listing Provided By:	Capitol Ranch Real Estate, original listing
Phone:	(855) 968-1200
Office Phone:	(855) 968-1200
Agent Name:	Justin Witt
Disclaimer:	Copyright © 2024 Highland Lakes Association of Realtors MLS. 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