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10438 Liv 228
Chillicothe, MO 64601
$415,000
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
1008
Property Description
Cruising down a scenic blacktop on a lazy Sunday afternoon in Livingston County, you decide to take an alternate route. Although you are only a couple miles outside of Chillicothe, the seclusion becomes increasingly noticeable after making a right turn onto LIV 228. Almost immediately after turning, you notice a For Sale sign. Slowing down to peek, you strain to see a peaceful home nestled amongst the trees. Pausing on the road, you utilize Google Maps on your phone for more information. The property itself consists of 39 M/L acres. It has a rolling landscape with a mixture of timber and open hayfields. A small stream further diversifies the property and there is even a small pond. This area looks to be a wildlife haven. Now that your curiosity has peaked, you dial the agent's phone number on the sign. The gentleman that answers the phone explains that the main level has a living room, dining room, kitchen, laundry room, two bedrooms and a bathroom. This level also has a sun-porch and an attached garage. The living room's main attraction is the brick fireplace, which also extends into the basement. The walk-out basement adds a bedroom, bathroom, living area and two bonus rooms to the home's resume. The home could use a cosmetic makeover. Cruising past the land and down the road, you're surprised at how alluring the entire package is. Although the home needs work, it could be a great opportunity to add your personal touches. Peace and quiet without a neighbor in sight. Cruising the short distance back into Chillicothe, your lazy Sunday drive has been sabotaged by the urge for a lifestyle change.
Property Information
Lot Size
39 acre(s) square ft
Property Type
Residential
Year Built
1964
MLS Number
11269709
Location
Address
10438 LIV 228
City
Chillicothe
State
MO
Zip Code
64601
County
LIVINGSTON
Listing
Provider
United Country Graham Agency, LLC, original listing
Name
United Country Graham Agency, LLC
Phone
(660) 646-7653
Office Name
United Country Graham Agency, LLC
Office Phone
(660) 646-7653
Agent Name
Mac Lee

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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.