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494 Rulison Drive
Loda, IL 60948
$330,000
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
2486
Property Description
Rare property at Bayles Lake! Home is on one level and handicap accessible, allowing wheelchair accessibility throughout the home. GeoThermal HVAC which provides low cost utilities. Newer roof of 4 years, was complete tear off! Open concept living with extra large living and family rooms with the kitchen between these two spaces offering beautiful views of the rear yard, park across street and lake! Family room has vaulted ceiling with recessed lighting and solar tubes! French door with built in blinds in family room leads to large deck that overlooks beautiful treed backyard with newer composite material dock with swim ladder on lake. Gorgeous Anderson and Pella windows with transoms above allowing extra light to flow through the home! Plenty of windows to view the serene setting overlooking our treasured gem, Bayles Lake! There are two large bathrooms with beautiful cabinetry and large walk-in showers, three ample size bedrooms, with a nice set up of split bedroom concept, where two of the bedrooms and one large bathroom with garden tub and separate shower are on the front side of home and the other bedroom and large bathroom are on the rear side of home. The smallest of the three bedrooms has carpet. There is a unique set up for a craft room/office/storage room with slider pocket door and a sunroom area in the home featuring a large bay window and a leaded glass French door that leads out to the newer composite material large deck. A wet bar is located in the sunroom, with a seating ledge for gatherings. Most of the flooring is Pergo wood laminate and is in great condition. Home has been updated over the years. Quality Schrock maple cabinetry in kitchen and Corian countertops with large bowl sink. Beautiful quality trim throughout the interior including crown moldings! Both dock and decks are newer and maintenance-free composite material! Property has a concrete sea wall! Majestic oaks on the property and an entire grove of oaks across the street in park. Great lake community! No tennis courts, but we now have Bocce ball courts! Along with several beautiful parks throughout the Bayles Lake area! Golf course is on south side of lake. Activities in the area include: Golfing, fishing, boating, swimming, kayaking, canoeing, ice skating, hiking, parks & playgrounds, pavilion for community events and can be reserved for private parties, as well, community mini libraries, community fire pit areas, beautiful wood sculptures adorn the parks and private residences; great recreational area to drive around in your golf cart and visit with neighbors! Several lake activities and events during the main months of April - November. Home has been pre-inspected and repairs have been done. Spic n Span, completely cleaned and ready for new owners!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1975
MLS Number
11782583
Location
Address
494 Rulison Drive
City
Loda
State
IL
Zip Code
60948
County
IROQUOIS
Listing
Provider
eXp Realty, LLC, original listing
Name
eXp Realty, LLC
Phone
(888) 574-9405
Office Name
eXp Realty,LLC
Office Phone
(888) 574-9405
Agent Name
Jennifer McLennand

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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.