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2044 County Rd 12
Deruyter, NY 13052
$550,000
Conventional
Property
Bedroom
2
Bathroom
1
Property Type
Conventional
Square ft
1115
Property Description
Bordering over 5500 acres of Cuyler Hill State Forest and Chippewa Falls along with a section of the renowned Finger Lakes Trail, this beautiful property offers the new owner so many possibilities: farm with 103+/- active ag fields/pastures, small woodlot, and multiple well-maintained dairy barns with extensive additions and machine equipment storage with room for livestock and/or horses for yourself or start a boarding/horseback riding business. Or you could convert the buildings into a great hunting camp, vacation getaway or possible year commercial business. There is an 1115sf 2 story farmhouse which would make a good hunting/vacation base camp or tear down and build a new home with gorgeous valley views from a number of locations on the property. The house is partially finished and could provide additional bedrooms when completed. The first floor has a kitchen, laundry, living room, extra room for bedroom or den and a full bath. There is an outdoor wood boiler that provides heat and hot water to the house. Additionally, there is an electric hot water heater and oil furnace for use as well. The property has access via the Finger Lakes Trail to Mariposa State Forest along its back side, providing an additional 3002 acres for hunting, hiking, and camping as well as miles of snowmobiling trails available for winter fun as well. The second dairy barn located just down the road from the main farm has electrical service available and a drilled well. There are 103+/- acres of active tillable and pasture land, offering income potential through leasing to area farmers or start a small farm operation of your own. **There is a 4 YEAR LEASE on this property, currently in Year 2 of the lease. There is a gorgeous 1.5 acre spring-fed deep pond that is stocked and ready to fish along with the Mud Creek trout stream that traverses the property. This area of Central New York is renowned for its wildlife conservation efforts, deer and wild turkey hunting, making this property an ideal location for your base for hunting or outdoor activities and enjoying nature. Between the area farms and thousands of acres of woodlands, streams, and brushy cover, this property and the surrounding area offers the ideal diverse habitat for whitetail and area wildlife to pass through. Amazing additional outdoor activities await with Labrador Mountain for skiing and winter sports just 10 miles away and just a half hour to Dorchester Park, located on the 1200 acre lake of the Whitney Point Reservoir, and offers a public beach, picnic area and NYS boat launch for access to outstanding fishing for walleye, smallmouth and largemouth bass, pike, and panfish, among many other species. While the property is remotely located on a quiet country road, amenities are only 4 miles away in DeRuyter, Cortland and Whitney Point are a half hour away and you can be in Binghamton within an hour. NYC/George Washington Bridge is just 3.5 hours away.
Property Information
Lot Size
138 acre(s) square ft
Property Type
Residential
Year Built
1910
MLS Number
11224470
Location
Address
2044 County Rd 12
City
DeRuyter
State
NY
Zip Code
13052
County
MADISON
Listing
Provider
WHITETAIL PROPERTIES REAL ESTATE LLC, original listing
Name
WHITETAIL PROPERTIES REAL ESTATE LLC
Phone
Office Name
WHITETAIL PROPERTIES REAL ESTATE LLC (NY)
Office Phone
(217) 285-9000
Agent Name
John Myers

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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.