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15 Harbor
Galena, IL 61036
$439,500
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
2225
Property Description
Tucked at the end of a long drive and nestled within the trees on 1.11 acres sits this 3 bed, 3.5 bath Galena Territory contemporary ranch featuring 3 car attached garage, bright and airy layout offering main level living, and private setting with lush, treed backdrop. Enclosed entry porch connects garage to house, and opens to main level offering great room style living room with towering wood clad cathedral ceilings, floor-to-ceiling stone façade, wood burning fireplace, wood floors, windows and transoms that frame the beautiful, wooded views, and direct access to large, screened porch and expansive rear deck, open dining area with ample room to entertain, nicely appointed kitchen with gorgeous cabinetry, stainless appliances including gas range, and eat-at breakfast bar, conveniently located powder room with integrated laundry area, and spacious primary bedroom with more wood clad cathedral ceilings and private bath that includes granite-topped double vanity, whirlpool tub, and separate shower. Full finished walk-out lower level offers a generous family room to relax and unwind with access to rear aggregate patio, two large guest bedrooms each with their own well-adorned private bath, and utility room. Take in the nature from one of many outdoor spaces including the aforementioned main level screened porch, main level deck overlooking the trees, or lower patio with rear yard beyond. Lovely landscaping highlights the exterior of the home with plenty of manicured, park-like yard space to enjoy. 3 car attached garage offers a great home for vehicles and also ample space for work area, and additionally has staircase access to huge unfinished area above with room for storage, hobby, etc. Location is just a short drive to Galena and is convenient to all amenities of The Galena Territory, including Owners' Club with indoor pool, outdoor pool, fitness facility, game room, multi-sport gym, tennis courts and more, scenic Lake Galena, and miles of gorgeous paved and unpaved trails. Just minutes from Eagle Ridge Resort & Spa 63 holes of golf, multiple restaurants, The Country Store, and the newly renovated Stonedrift Spa.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
--
MLS Number
202402394
Location
Address
15 Harbor
City
GALENA
State
IL
Zip Code
61036
County
JODAVIESS
Listing
Provider
Coldwell Banker Network Realty, original listing
Name
Coldwell Banker Network Realty
Phone
(815) 777-6500
Office Name
COLDWELL BANKER NETWORK REALTY
Office Phone
(815) 777-6500
Agent Name
DAMON HEIM

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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.