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55 Oak Creek Drive
Yorkville, IL 60560
$559,900
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
3634
Property Description
Welcome home to 55 Oak Creek Drive in Yorkville! This 1+ acre lot in the country subdivision of Oak Creek is spacious and ready for new owners! The minute you step onto the large front porch you'll fall in love with the convenience of being close to shopping, restaurants, schools and amenities but with the quiet calm of the country. This large 5 bedroom home features a spacious entry with hardwood floors, dual closets, 9ft. ceilings, a formal living room with pocket door to family room. The sizable family room has a brick fireplace with gas log and built-in bookcases and large window to the wooded back yard! The kitchen is loaded with cabinets and drawers, large eating area, huge walk in pantry, new counter tops, broad window over sink area, upgraded appliances and patio door. The first floor also features a large laundry room, private office or bedroom with walk in closet, full bath and private screen room with access to deck and wooded lot. Upstairs you'll find 4 spacious bedrooms each with their own walk in closet, linen closet, master suite with tub and shower and large hall bath with dual sinks and large closet for storage. There's a full basement with a finished office area, several closets, family room, recreation room, half bath, separate staircase to the garage, and large storage area with sink. In the 3 car garage you will find a large washtub with hot and cold water, epoxy floor, side door to yard, level driveway 3 cars wide. The home offers a tankless water heater, sprinkler system, newer roof, new well and many more updates! Community offers clubhouse, pool, tennis courts, walking path, playground and pond with fountain! The only thing left to do is add your personal cosmetic touches to this incredibly built custom home!
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1989
MLS Number
12003928
Location
Address
55 Oak Creek Drive
City
Yorkville
State
IL
Zip Code
60560
County
KENDALL
Listing
Provider
Charles Rutenberg Realty, original listing
Name
Charles Rutenberg Realty
Phone
(630) 929-1100
Office Name
Charles Rutenberg Realty of IL
Office Phone
(630) 929-1100
Agent Name
Brian Hauser

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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.

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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.