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2298 Terrace Ave.
Rippey, IA 50235
Mark Gannon with Gannon Real Estate & Consulting, original listing - (515) 233-4144
$725,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
This is a unique timber tract located 3.5 miles SW of Rippey, 10 miles NW of Perry and 35 miles NW of Grimes. The closest intersection is 320th Street and Terrace Avenue, The land lies on the north-east side of the North Raccoon River. The property is roughly 3/4 mile north to south and 3/8 to 1/2 mile wide. It is mostly rolling timber but the SW corner is on the Raccoon River floodplain about 100 yards from the current stream; the river would extend onto the property in flood stage. This is a large stand of mature oak, hickory, walnut and other native Iowa species plus some open hay land at the north end. The access is from the north via a permanent easement through land that the owners will be retaining for the time being. Rural water and electric are available at the road and can be extended to the 125 acres if needed. The timber has not had any trees harvested that we know of. The Hanson family has owned the land since 1937. A copy of a timber evaluation was done in 2012 and is currently being updated. There are no heavily traveled lanes through the timber except the deer trails but the land can be walked without too much trouble. There is about 6 acres of hay land to the north end. This can be rented to the present tenant if desired but would make a nice home or cabin site. The timber to the west was a partial gift and sale sold by the owner in 2015 to Greene County Conservation. This land is well marked with county conservation boundary signs. Gross: 125 A m/l
Property Information
Lot Size
125 acre(s) square ft
Property Type
Farm-Farm
Year Built
--
MLS Number
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Location
Address
2298 Terrace Ave.
City
Rippey
State
IA
Zip Code
50235
County
GREENE
Listing
Provider
Gannon Real Estate & Consulting, original listing
Name
Phone
(515) 291-5942
Office Name
Office Phone
(515) 233-4144
Agent Name
Mark Gannon
Agency Phone
(515) 233-4144

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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.