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11991 Sw Shiloh Road
Cedar Key, FL 32625
$649,000
Conventional
Property
Bedroom
5
Bathroom
3
Property Type
Conventional
Square ft
2895
Property Description
Under contract-accepting backup offers. Welcome to your Florida homestead on 61 acres - your complete recreation and living paradise. The land is lush and well-tended, with majestic oaks dotting the landscape, and in one corner, natural Florida thrives in seclusion of a maze of trails for your recreational adventures. Think of four-wheeler adventures, laser tag - or even a private picnic on the small pond in the circle of the vegetation, Natural Florida palmetto shrubs, and native plants and trees make this corner a unique area on the property. Near the trails, is the massive custom-built barn. The barn sits on a 40 X 60, (2400 sq ft) concrete slab. The covered parking areas on both ends measure 20 X 40 (800 sq ft) each. The upstairs apartment is built with 615.5 sq ft of actual floor space. It has the additional storage loft above the kitchen with an area of 137.5 sq ft. Amish pole and beam barn with hemlock timbers and juniper siding. Solidly built with construction techniques which will stand the test of time. The cute Gulf-front town of Cedar Key is a mere 7 miles from the property. Fantastic restaurants, and all waterfront activities are only a short hop away. Less than 8 miles to the Cedar Key Marina, and 10 miles to the Shell Mound campgrounds. Ride your horses anywhere on the expansive acreage, and/ or graze cattle or other livestock.The sky's the limit in terms of possibilities, on this property. On the property, in pristine, well maintained condition - is a 2004 Fleetwood doublewide with a metal roof. A spacious 4 bedroom/2 bath home with separate living and dining areas - a large kitchen. Live in this sturdy home, or have your own home built on the property - the possibilities are endless. The barn and the house have separate 4 inch wells, separate and identical water treatment/softening systems, and separate septic systems. The barn’s system has its own lift station. This will help if the barn is rented to large gatherings like weddings. The rest of the land is already fenced for possible division, if so desired by the new owner. The property is in a flood zone, however it did not flood even during Idalia. The mobile home has never sustained any damage from any storm. If a potential buyer wishes to build another home on this property, mitigation of flood risk is possible. Please call us to find out more. In August 2019 there was torrential rain for 2 weeks, and the floor of the barn had two inches of water which quickly dissipated. The possibilities for future development of this property with additional agricultural and recreational uses, and even as a wedding venue - are endless.
Property Information
Lot Size
61 acre(s) square ft
Property Type
Residential
Year Built
2004
MLS Number
O6163174
Location
Address
11991 SW SHILOH ROAD
City
CEDAR KEY
State
FL
Zip Code
32625
County
LEVY
Listing
Provider
Regal Realty International Corp, original listing
Name
Regal Realty International Corp
Phone
(321) 310-6851
Office Name
REGAL REALTY INTERNATIONAL COR
Office Phone
(321) 310-6851
Agent Name
Trisha Roy

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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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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.