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1373 E 1050th Ave
Oblong, IL 62449
$299,900
Conventional
Property
Bedroom
5
Bathroom
3
Property Type
Conventional
Square ft
2052
Property Description
This property has so much, you must see to really appreciate what it has to offer. The residential home is a 1992 Manufactured home with a full finished basement. The main level has a 4 bedrooms, 2.5 baths, formal dining room, family room with dining room, kitchen, master bedroom / bathroom, laundry located in the master bath. Kitchen has granite countertops, bottom cabinets are self-close; island has a skylight above it. Kitchen appliances stay. Family room has a gas fireplace. Master bathroom has w/d hookups, utility sink, water softener in the cabinet, heat lamp, iron board on the wall, dual sink, toilet and walk in shower. Windows have bottom tip outs for easy cleaning. Exit the back of the home to a closed in mudroom area with entry to the west pole building, basement entrance; 2 car garage; two exit doors. One of the exit doors lead out to a concrete pad where the hot tub is which is reserved. Half of it is covered with an awning. Whole house generator. The other exit leads to a fenced in area. Finished basement has insulated walls and a full functioning kitchen with large great room with fireplace. Great for entertaining!! Drop down ceilings, full bathroom near the bedroom. Bedroom has its own controlled thermostat. Closet holds the boiler, instant hot water and well pump. 40 x 100 Pole building with 20x40 add on is attached to the house by a closed in breeze way. The pole building has been sectioned off into multiple areas. (2 car garage; 2 bay garage for washing vehicles; office; workshop; pole building storage; upstairs two bedroom In-Law Suite; carport) When you enter into the pole building you walk into an office with small kitchen and full bathroom with walk-in shower (new walk-in shower stall will be installed). A door from there enters into the shop. The shop has a workshop area, air lines; half bathroom and a garage bay with a pit (with separate soap trap) to work on a car or mower, etc. A door from the workshop leads to a large pole building area to store tractors and larger equipment. There is also a small loft for extra storage. Included in the pole building is a 2 bay garage for washing vehicles with two drains, hot and cold water. A closet with w/d hookups. From that garage there is a door that leads up to a two bedroom In-Law Suite, full bath, storage room, window a/c unit. Carport has insulated ceiling. Detached 32x64 detached garage with concrete flooring, electric and a 16x52 loft and a closed in 16' x 20' workshop area. The property two water sources city water for the house and well water for watering. Outside water spickets are attached to the well water for watering flowers. Whole home generator for the home when the power goes out it automatically kicks in. Easement for the respectful farmer to assess the fields. All refrigerators have water line hookups. 5 breaker boxes.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Other
Year Built
1992
MLS Number
11249467
Location
Address
1373 E 1050th Ave
City
Oblong
State
IL
Zip Code
62449
County
CRAWFORD
Listing
Provider
Aldrich Realty, original listing
Name
Aldrich Realty
Phone
(618) 562-2274
Office Name
Aldrich Realty
Office Phone
(618) 592-3118
Agent Name
Michelle Aldrich

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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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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.