Home for Sale at 24151 Dewitt Hill RD, Cameron, OK 74932

24151 Dewitt Hill Rd
Cameron, OK 74932

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Property Details

List Price:	$949,000
Beds:	3
Baths:
Status:	Active
SqFt:	2855 Square Feet
Agency:	All About U Real Estate

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Description/Comments

Lot Size:	128 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2004
Notes:	A beautiful 128 acres m/l with a 2,855 sqft pristine brick home with a metal roof. This home has 10' ceilings and is setup with an open floor plan for enteraining your family and friends with beautiful views of the hay meadows and surrounding ridges. The Primary Suite is a spacious bedroom with a private office/exercise/sitting room, walk-in closets and a large bathroom with Jacuzzi Tub and walk-in shower. The two bedrooms on opposite side of the home each have an ensuite bathroom with showers. An office/study, powder room, mud room and laundry room complete this floor plan. One of the most amazing things about this home is the gorgeous west facing views for those beautiful Oklahoma sunsets from the living room, dining room, Primary Bedroom sitting room and back patio. The house is heated and cooled with a state of art GeoThermal system. The attached two car garage is 1,099 sq ft. with work area on two walls. There is a 75'x36' fully insulated steel building with 14ft sides walls, two 12 foot role up doors and private living quarters. This property is a needle in a haystack find located in northern LeFlore County a few miles east of Panama, OK. This property has a 50 acre hay meadow that produces 75-100 round bales of hay per cutting. The perimeter fencing is in pristine condition. There is about 78 acres of woods on the ridge running along the south perimeter of the property with some of the most top notch trophy whitetail hunting in Oklahoma. There is three ponds for livestsock, fishing, waterfowl hunting and occasional wild hog shows up on the place. There is room for your families expansion with another beautiful building site northwest of the home by the old hay barn you can see in the pictures where there is also electric and rural water available at the road for a new home.
MlsNumber:	--

Listing Provided By:	All About U Real Estate, original listing
Agent Name:	James West
Disclaimer:	Copyright © 2024 Fort Smith Board 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.

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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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