Home for Sale at 705 Courtney Lane, Marengo, IL 60152

705 Courtney Lane
Marengo, IL 60152

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Property Details

List Price:	$430,800
Beds:	4
Baths:	3
Status:	Active
SqFt:	2752
Agency:	Little Realty

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2024
Notes:	The Talcott plan at Brookside Meadows features a beautifully crafted and open design-come peek inside! This floorplan includes the following: * Open-concept family room * Kitchen * Breakfast nook * Spacious loft * 4 bedrooms * 2.5 bathrooms * Basement As you enter the front door, you'll immediately notice the expansive and open flex room. From a craft room to a prayer room or a personalized home office, there are endless ways to make the most of this extra room in your new home! Continue toward the back of this home where you'll pass 2 coat closets and a half bathroom. Entertain with ease in your open-concept family room, kitchen, and breakfast bay area! The central location of the Talcott's kitchen promotes easy conversation and makes for a stunning focal point in your home. The kitchen also includes a peninsula with an overhang-perfect for barstool seating. A mud room leads to your garage and rounds out this main floor. Upstairs, you'll first come across a large loft in the center of the home. The owner's suite takes up the entire rear of the home with the expansive bedroom leading to an en-suite bathroom and into the walk-in closet. 3 secondary bedrooms surround the rest of this floor-each with a closet and the hall bathroom to share. The second-floor laundry room is also a highly desired feature since you won't have to trek overflowing laundry baskets up and down the stairs! Contact our team today to see the Talcott in person! Broker must be present at clients first visit to any M/I Homes community. Lot 126
MlsNumber:	12022205

Listing Provided By:	Little Realty, original listing
Name:	Little Realty
Phone:	(630) 334-0575
Office Name:	Little Realty
Office Phone:	(630) 334-0575
Agent Name:	Linda Little
Disclaimer:	Copyright Â© 2024 Midwest Real Estate Data, LLC. 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