Home for Sale at 960 Mary Court, Marengo, IL 60152

960 Mary Court
Marengo, IL 60152

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Property Details

List Price:	$419,990
Beds:	4
Baths:	3
Status:	Active
SqFt:	2589
Agency:	Little Realty

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2024
Notes:	Welcome to the Seneca floorplan at Brookside Meadows in Marengo! The Seneca floorplan from our Smart Series features an open-concept first floor, 4 bedrooms, a loft, a second-floor laundry room, and a look-out basement. As you enter the front door, the home immediately opens up to the flex room to the side. Arrange a decorated console table or gallery wall in your foyer hall to give all your visitors a lovely welcome and first impression! Find the following rooms on this open first floor: * Powder bathroom * Family room * Breakfast area * Kitchen * Mud room next to the garage entry Head toward the back of the home where you'll pass a powder bathroom and coat closet along the way. The kitchen, breakfast area, and family room are all open to one another, creating a highly visible and connected space. Bake a batch of cookies while your kids hang out in the family room! As you arrive upstairs, you'll land at a large loft in the front corner of the home. This is a great space for a second family room / lounge space for laid-back movie nights and video gaming. The owner's suite sits in the rear corner of the home and is complete with its own walk-in closet and en-suite bathroom. Three secondary bedrooms sit on the other side of the home, along with a hall bathroom to share. A laundry room sits at the front of the home, completing this floor. Rounding out this home is a look-out basement. This home has so much to offer and plenty of personalization options to bring your dream home vision to life. Contact us today to see it for yourself! Broker must be present at clients first visit to any M/I Homes community. Lot 19
MlsNumber:	12009346

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