Home for Sale at 2468 RIVER BOTTOM RD, Springville, UT 84663

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2468 River Bottom Rd
Springville, UT 84663

Peggy Case with Berkshire Hathaway HomeServices Elite Real Estate, original listing - (801) 224-9011

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Property Details

List Price:	$1,500,000
Beds:	7
Baths:	Full: 5, ½: 1
Status:	Active
SqFt:	--
Agency:	Berkshire Hathaway HomeServices Elite Real Estate
Agency Phone:	(801) 224-9011

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Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	2003
Notes:	This stunning 7-bedroom, 4.5-bathroom masterpiece is nestled in an ideal location near the mouth of Hobble Creek Canyon. The main level features main-floor living, a gourmet kitchen, a large family room, a semi-formal dining area, extending out to a large covered deck-perfect for entertaining. 2 gas fireplaces on the main floor, one in the family room and one in the master bedroom. The second floor features a good sized bonus space with a bedroom and full bathroom.The lower level features 3 more bedrooms, a second kitchen, a large family room with gas fireplace, a dedicated theater room providing the ultimate cinematic experience. The walkout basement leads to a large covered patio. This home offers abundant storage space, including an extra-wide, deep garage capable of accommodating boats and UTVs comfortably, as well as ample storage options within the basement. The meticulously landscaped exterior features mature trees, creating a serene backyard. This home is a true gem, offering the perfect blend of comfort, style, and location. This property is conveniently located near Springville High School, Hobble Creek Golf Course, Wayne Bartholomew Family Park, Hobble Creek Park, and a local grocery store, providing easy access to recreation, entertainment, and daily necessities. Square footage figures are provided as a courtesy estimate only and were obtained from County Records. Buyer is advised to obtain an independent measurement.
MlsNumber:	--
ListingId:	2033161

Listing Provided By:	Berkshire Hathaway HomeServices Elite Real Estate, original listing
Phone:	(801) 224-9011
Office Phone:	(801) 224-9011
Agent Name:	Peggy Case
Disclaimer:	Copyright © 2024 UtahRealEstate.com. 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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