Five Featured Bargain Homes
March 06, 2007
Last year ushered in one of the biggest surges in foreclosure inventories in
recent history, and the momentum will continue at a robust pace throughout
2007. Whether you buy a primary residence or rental property, there are
excellent opportunities everywhere.
Here are five active listings – representing a good cross-section of the housing
market – that demonstrate the extraordinary foreclosure buying potential that
currently exists throughout the USA.
#1 - 117 Petrossi Drive, Rochester, New York:
List Price $45,745
Median Home Price: $84,178
A stately 3-bedroom 2-bath classic, this gorgeous Rochester listing represents a
steal of a deal at a $200,000 discount below the price of a typical single
family home in the USA. Rochester is in one of the most desirable parts of New
York State, with scenic rolling hillsides and an abundance of shimmering
waterways including Lake Ontario, the Genesee River, and Irondeqouit Bay.
Within a 400-mile radius of Rochester are 14 northeastern states, two of the
most populated Canadian provinces, New York's capital city of Albany, and the
nation's capital of Washington, D.C.
There are 11,000 acres of parkland in the Rochester, including two parks
designed by world famous landscape architect Frederick Law Olmsted. The city is
in the heart of New York's wine country, and the University of Rochester was
included in US News & World Report’s top 35 rankings of America’s Best
Colleges.
#2 - Northeast 22nd Street, Winston-Salem, North Carolina:
List price $34,500
Median Home Price: $148,264
Built in 1918, this 1,140 sq. foot 4-bedroom home is vintage southern, with
plenty of large, sunny windows and a wide, expansive front porch for
entertaining or relaxing.
Winston-Salem was ranked in Sperling’s Top 12 Fiscally Fit Cities, based on
quality of life and investment potential. Local Wake Forest University was
ranked by US News & World Report in the top 30 colleges in the USA, and
Sperlings named Winston-Salem one of the 100 Best Places to Live in 2005.
At a price that is less than $29 per square foot, this home represents dramatic
value in a growing region of the country. The city of Winston-Salem has an
attractive, modern downtown and the cost of living is below the national
average.
#3 - 112 11th Street, Concordia, Kansas:
List Price $36,000
Median Home Price: $58,377
Built in 1926, this beautiful home has authentic vintage architectural touches.
And while most antique homes have only one bathroom, this house boasts a
spacious floor plan of 4 bedrooms and 2 baths. The bay window across the front
of the house adds a touch of elegance, and is complimented by a cute outside
balcony fronting one of the upstairs rooms.
The town of Concordia is the county seat and offers its own rich history. In the
late 1800s, tent shows brought legendary performers including Wild Bill
Hickock, Buffalo Bill Cody, and the original Ringling Brothers. Renowned Kansas
City architect Carl Boiler designed the local Brown Grand Theatre in 1907, and
today the completely restored landmark still attracts tourists and performing
artists.
For those who prefer to spend their time in the woods, hunting season is also a
major source of tourism in Concordia, attracting lots of locals and visitors
who hunt for wild pheasant, quail, and dove.
#4 - 1504 Walnut Street, Greenville, Texas:
List Price $39,900
Median Home Price: $60,550
Small town life is a rare luxury in this day and age, but one that you don’t
have to pay a luxurious price for if you snag this tree-shaded 2-bedroom,
1-bath in Greenville. The home is located in a town where life is simpler and
the cost of living is almost 25 percent lower than the national average.
Greenville is home to war hero and movie star Audie Murphy, and the Audie
Murphy/American Cotton Museum houses a collection of memorabilia including
photographs, uniforms, and reproductions of medals awarded to the country’s
most decorated soldier.
For nature lovers and bird watchers, Greenville’s Matthews Prairie Preserve
offers a 100-acre native prairie meadow that has never been cultivated.
Protected and supported by the Texas Nature Conservancy, the tract is a rare
slice of wild American frontier with a variety of native birds, wildflowers,
and grasses with roots so old they go100 feet deep.
#5 - 1868 Charles Road, East Cleveland, Ohio:
List Price: $20,900
Median Home Price: $89,278
This stylish wood and brick circa 1914 home has a unique second story twin
breakfront-designed bay window façade, a dormer roof, and a spacious front
porch.
East Cleveland is the oldest suburb of Cleveland, and used to be the summer home
of the late powerful oil industry baron John D. Rockefeller, who was the
world’s first billionaire.
Right now the average price of house construction in the USA ranges from
$125-$175 dollars per square foot. But you can have this 1,504 sq. foot
4-bedroom home – listed for $20,900 – for less than $14 per sq. foot.