Home for Sale at 43 PASSAGE WAY TERRACE, GERRARDSTOWN, WV 25420

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43 Passage Way Terrace
Gerrardstown, WV 25420

Rhonda Shade with ERA Oakcrest Realty, Inc., original listing - (540) 665-0360

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Property Details

List Price:	$460,000
Beds:	3
Baths:	Full: 3
Status:	Active
SqFt:	2694 Square Feet
Agency:	ERA Oakcrest Realty, Inc.
Agency Phone:	(540) 665-0360

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Description/Comments

Lot Size:	5 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	2002
Notes:	Situated in the picturesque Round Top Estates, this log home offers a perfect blend of rustic charm and modern amenities. The exterior features classic log construction with a covered porch that’s ideal for relaxing and taking in the surrounding views. An inviting in-ground pool and a spacious deck provide plenty of space for outdoor entertaining and enjoyment, making the most of the beautiful setting.<br /> <br /> Inside, the main level impresses with a dramatic family room that boasts a cathedral ceiling and a cozy wood-burning fireplace, creating a warm and inviting atmosphere. The home is complete with a sunroom that’s perfect for unwinding. The well-designed space also includes a functional kitchen off the family room. The primary bedroom and an office is also on the main level.<br /> <br /> The basement is a fantastic space for both leisure and hosting. It features a bar area and a rec room, adding a fun and functional element to the home. There’s also a bedroom and bath on this level, offering extra flexibility. Upstairs, the loft area includes another bedroom and bath, plus a versatile space that could serve as a library or office. This log home in Round Top Estates combines comfort with a touch of luxury, making it an exceptional choice for a welcoming and functional living space.
MlsNumber:	--
ListingId:	WVBE2032338

Listing Provided By:	ERA Oakcrest Realty, Inc., original listing
Phone:	(540) 665-0360
Office Phone:	(540) 665-0360
Agent Name:	Rhonda Shade
Disclaimer:	Copyright © 2024 Bright MLS. 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.

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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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