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2250 N 350 W
Warsaw, IN 46580
$535,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
4332
Property Description
Back on market at no fault of the seller. Appraisal and home inspection completed. Immediate possession available with this 4 bedroom 2.5 bath brick ranch with finished walk-out and 2.5 car garage on 4 acres at the west edge of Warsaw. Covered front entry, large foyer with marble floor, tray ceiling and poplar columns. Main level offers a generous sized living room with gas fireplace, tray ceiling and natural lighting, formal dining room with engineered hardwood flooring, breakfast nook, center island kitchen, master BR suite with walk-in closet, private bath with skylight, whirlpool tub, separate shower and a water closet. Bedroom 2 has a small walk-in closet and a private bath. The main level also has a half bath plus a large laundry room with tile floor and 3 closets. The low rise step staircase flows to the finished walk-out lower level that features a family room with woodburning stone fireplace, 2 additional bedrooms, 2 home office rooms (could be 5th and 6th BRs). It is framed and plumbed for 3rd full bathroom. There is an unfinished storage room plus a mechanical room with high efficiency Rheem GFA furnace, 200 amp breaker box, ManaBlock Pex plumbing manifold, and a Kinetico water softener with RO system. Also in the lower level are two wide hallways, one has 3 closets and the other hallway leads to the atrium door that exits to the 20x38 rear patio. The attached garage has 2 standard sized bays and a 3rd bay (for lawn equipment). Amenities include: solid construction (16,000 bricks, 4,000 cement blocks), Anderson windows, solid 6 panel doors, engineered floor joists, central vac system (new unit not installed yet), central AC, 4 inch well (new well pump May 2022), NIPSCO gas, REMC electric (fiber optic internet available), agricultural zoning. Hard to find property in a wooded rural setting and convenient location near Old Road 30 (a few minutes from west side major employers) and US 30 (easy access to major shopping plazas and restaurants).
Property Information
Lot Size
4 acre(s) square ft
Property Type
Residential
Year Built
2004
MLS Number
202243330
Location
Address
2250 N 350 W
City
Warsaw
State
IN
Zip Code
46580
County
KOSCIUSKO
Listing
Provider
Blackwell Real Estate, original listing
Name
Blackwell Real Estate
Phone
(574) 267-6280
Office Name
Blackwell Real Estate
Office Phone
(574) 267-6280
Agent Name
Dave Blackwell

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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.