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5365 Holtsclaw Road
Milton, IN 47357
$479,999
Conventional
Property
Bedroom
1
Bathroom
1
Property Type
Conventional
Square ft
720
Property Description
Located just south of Cambridge City, IN, this nearly 40-acre property awaits your enjoyment. Off the county road, a new driveway leads to a recently constructed barndominium with ample garage space for tractors, ATVs, and toys. The living quarters boast a fully operational water and waste system, with septic ready for a future three-bed, two-bathroom home to be added to the property. The open concept interior, complemented by large picture windows, offers scenic views of the wildlife. Transitioned from agriculture in 2022, the land is reverting to its original state, promoting an early successional habitat that has led to a surge in local quail and whitetail populations. Two quail coveys can be heard, and trail cameras documented proven whitetail activity during the 2023 season, with a handful of nice bucks living nearby. The owner refrained from hunting bucks to allow for growth. Border screens of White Pine and Spruce, alongside plantings of Chestnut, Oak, and fruit trees, enhance winter cover and privacy. Slightly rolling topography provides ideal access for hunters and observers. The current layout enables hunting along the property's edges without disturbing deer bedding areas, offering numerous opportunities throughout the season. Remarkably, no recreational farm like this has surfaced in Wayne County in the last 12 months, presenting a rare opportunity for prospective buyers! Shown to pre approved buyers by appointment only. There is a split of the northern 20 acres and barn for sale seperately.
Property Information
Lot Size
39 acre(s) square ft
Property Type
Residential
Year Built
2022
MLS Number
202411053
Location
Address
5365 Holtsclaw Road
City
Milton
State
IN
Zip Code
47357
County
WAYNE
Listing
Provider
William Minor, original listing
Name
William Minor
Phone
(317) 446-9500
Office Name
Whitetail Properties Real Estate
Office Phone
(217) 285-9000
Agent Name
Tyler Fritz

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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.