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22491 Woodland Court
Morton, IL 61550
$599,999
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
3092
Property Description
The country living you've been dreaming about in the Morton schools is finally here! This unique A frame home sits on just over 3 acres w/ a 30x60 outbuilding, an att. 2 car garage and addntl 2 car oversized det garage with addntl room above. The home consists of 4 BR and 2 baths. 2 BR on the main level that both walk out to the backyard. Open style concept kitchen, dining and great room! In the great room is a 2 story brick woodburning fireplace with tall, vaulted ceilings. Off the other side of the kitchen is an additional family room that leads to the composite deck with a screened pergola wired with outlets, lights and fan. Kitchen has white cabinets, granite tops with newer appliances. 1 full bathroom on the main floor. Upstairs is a loft- could be used as an office or extra sitting area, a full bath and 2 more large BR. The primary BR has a new deck overlooking the private backyard. Basement is mostly finished with another WB stove, bar area and storage. This home has geothermal. Attached garage has Bomanite floor and approach with a paved driveway leading to it. The detached 2 car garage is 28x22 with a 2nd level- completely finished with heat and WB stove. The sidewalk will lead you back to the 30x60 with in floor heat, insulated with white steel lining, 1/2 bath, 16' ceiling, 14' overhead door with another 8' door on the front & back. 2nd story loft for storage. Overhang front porch with can lights overlooking the private yard. Building has its own paved driveway.
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
1972
MLS Number
PA1244867
Location
Address
22491 WOODLAND Court
City
Morton
State
IL
Zip Code
61550
County
TAZEWELL
Listing
Provider
Keller Williams Premier Realty, original listing
Name
Keller Williams Premier Realty
Phone
Office Name
Keller Williams Premier Realty
Office Phone
(309) 291-0080
Agent Name
Alex Smith

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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.