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1175 S 495 E
Lagrange, IN 46761
$514,900
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2392
Property Description
CUSTOM HOME ON THE FISH AND ROYER LAKE CHAIN OF LAKES. GREAT FISHING from the shore or by boat. This custom home is overflowing with character and one of the most unique features is the wide spiral staircase repurposed from an actual ship!!!! Two bedrooms, plus a third bedroom or office in the finished and heated bonus room above the three-car garage. The triple-wide concrete driveways offer ample parking. Inside, take time to appreciate the soaring ceilings, linear lines, and large, recently replaced porthole-style windows filling the rooms with natural light and contribute to the lakefront vibes. Just inside the main entrance is a large custom kitchen with a 12-foot + granite-topped island. There's a spacious dining room and a generously sized owner's suite that accommodates a king-sized bed, a “mule” (to remain with the property), and a walk-in closet. The dining room connects to the living room with higher-than-average ceilings and a screened sliding door that leads to a 50k Raber four-season room, complete with two separate free-standing heating sources. The lofted upper level includes a secondary en suite with a separate bathroom, a custom built-in desk and bookshelf. Outside, on the lakeside, you'll find a large composite deck with a motorized pergola that adjusts based on the sun's position. A fully screened gazebo provides an elevated view of Fish Lake free from mosquitos. Downstairs off the deck, the lakeside yard features a spacious paver patio with a fire pit and a fenced yard that runs the full length of the waterfront, including an underground dog fence to keep your pets out of the water. Additionally, the entire unfinished full-height crawl space and serves as excellent storage space, even doubling as a workout room for the seller. With too many features to list and unmatched character that words can’t fully capture; this home truly needs to be seen to be appreciated. Unique, full of charm, and one of a kind, it stands out as a remarkable property.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1961
MLS Number
202416533
Location
Address
1175 S 495 E
City
Lagrange
State
IN
Zip Code
46761
County
LAGRANGE
Listing
Provider
Mike Thomas Associates, original listing
Name
Mike Thomas Associates
Phone
(260) 463-2881
Office Name
Mike Thomas Associates
Office Phone
(260) 463-2881
Agent Name
Daniel Orlando

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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.