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7332 N East Shafer Drive
Monticello, IN 47960
$5,250,000
Conventional
Property
Bedroom
7
Bathroom
8
Property Type
Conventional
Square ft
7611
Property Description
This private oasis is a self-sustained retreat with 3000 linear feet of waterfront property sitting on 160 private acres on Lake Shafer, forest, trails, ponds and even farmland. You will find two boat houses each equipped with automatic boat lifts which accommodate pontoon boats, jet boats, jet skis and paddle boats. On the water you will also find a sizable pier, sandy beach, beach volleyball court and fire pit. In one boat house there is a party room,??fully functioning kitchen, powder room, a wrap-around partially covered deck that overlooks the water and a BBQ area equipped with gas grills and picnic benches.? The New England style main house greets you with an enormous wrap-around porch. This home was built for comfort and entertaining with 3 bedrooms and sleeping nooks which can easily sleep 12, 4 full baths, one powder room, laundry room, a cathedral ceiling great room, formal dining room, full functioning kitchen with coffee bar plus 2 stone fireplaces and a sizable comfy loft. The stunning guest house has 3 bedrooms, can easily sleep 11, 3 full baths, a great room, full kitchen plus dining area, family room that leads to the deck with a hot tub, plus an outdoor shower.?Want to play a game of basketball, enjoy the full-sized outdoor basketball court.? The impressive barn has six stalls and can house horses, goats and cows easily. The barn has a full bath on the main level, a guest suite in the silo/turret with a living room, kitchenette, bedroom and full bath. Upstairs there is an indoor half-court basketball court and full workout area.?There are fenced in horse pastures surrounded the barn and land as well. The fishing hut sleeps 4 with a kitchenette, full bath and covered deck overlooking the bass stocked aerated pond.?Of course you need a place for the toys, the oversized, newly built shed with heating and cooling can hold those 3 wheelers, motor bikes, snowmobiles, store the boats and collector cars. The newly renovated carriage house is a site to be seen. Set on the South edge of the property, this home overlooks the lake and the bayou with direct access to the water from the tiered cement break wall. This home is an entertainer’s dream with sliding door entrances to patios, a fenced in yard. Gorgeous chefs’ kitchen, formal and informal dining areas, al fresco dining space outside, a massive great room, 4 built-in sleeping books with lighting, electric and wi-fi, 2 bedrooms, 3 full baths provides ample arrangements for all guests.
Property Information
Lot Size
160 acre(s) square ft
Property Type
Residential
Year Built
1997
MLS Number
202413013
Location
Address
7332 N East Shafer Drive
City
Monticello
State
IN
Zip Code
47960
County
WHITE
Listing
Provider
Realty Group Partners, LLC dba Berkshire Hathaway, original listing
Name
Realty Group Partners, LLC dba Berkshire Hathaway
Phone
(765) 449-8844
Office Name
BerkshireHathaway HS IN Realty
Office Phone
(765) 449-8844
Agent Name
Laura Topp

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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.