Home for Sale at 12246 NE 120th Road, Red Oak, OK 74563

12246 Ne 120th Road
Red Oak, OK 74563

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Property Details

List Price:	$1,399,900
Beds:	7
Baths:	6
Status:	Active
SqFt:	--
Agency:	Century 21 Wright Real Estate

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Description/Comments

Lot Size:	5 acre(s)
Property Type:	Residential
Year Built:	2017
Notes:	Seated atop a great hill, overlooking the land below & the majestic San Bois Mountains, lies the incredible Manor at Parks Ranch. As you arrive, the front gates will welcome you to one of the most breathtaking views on earth. You won't be able to imagine it, until you've seen it for yourself. As you come slowly down the driveway, the ever-widening view will enlarge the immensity of your astonishment by the second. Enter through the front doors, & walk into the marvelous Dining & Living Room, easily the largest space in the house. You will be greeted by the exquisite taste of modern, country living. A few steps further, & the incredible mountain view will capture all of your attention, making you ponder where in the world you would ever see a view quite like this. Now entering into the Breakfast Corner, Kitchen, & Family Room you instantly feel the deep, warm sensations of a happy family life. Called further into the home, you will find the Pantry Room, the Dog Wash, the Theater, the Children's Room, the comfortable Bedrooms, the luxurious Bathrooms... until finally you happen upon the Master Bedroom. As your eyes widen with the sheer enormity, you may find yourself feeling a bit overwhelmed with it all. But, turning into the Master Bathroom, the stress starts to melt away. A rose petal bath is drawn in the copper bathtub, a fresh robe & pair of slippers laid upon the Master Closet dresser await you, a glass of champagne & plate of exquisite food are prepared on the bath-side counter... all take the troubles of life away, as you blissfully remember... you are home.
MlsNumber:	2410206

Listing Provided By:	Century 21 Wright Real Estate, original listing
Name:	Century 21 Wright Real Estate
Phone:	(918) 708-1256
Office Name:	C21/Wright Real Estate
Office Phone:	(918) 708-1256
Agent Name:	Dakota Fleming
Disclaimer:	Copyright Â© 2024 MLS Technology, Inc. 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