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00 110th Street
Jamaica, IA 50128
Doug Bear with PEOPLES COMPANY, original listing - (515) 222-1347
$836,500
Conventional
Property
Bedroom
--
Bathroom
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Property Type
Conventional
Square ft
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Property Description
Guthrie County, Iowa Farmland Available - I'm pleased to present this outstanding opportunity to own 79.66 gross acres m/l of northeast Guthrie County farmland located directly east of Jamaica, Iowa. Situated along the north side of 110th Street, this exceptional property truly offers the "business in the front and party in the back" layout with a combination of highly productive farmland acres combined with a hearty, block of timber on the northern end of the property for all your recreational endeavors. The 49.22 FSA cropland acres, designated at Non Highly Erodible Land (NHEL), consists of the top-producing soil types including Clarion loam, Webster clay loam, and Nicollet loam carrying an outstanding CSR2 rating of 88.1! The farmland tract has a gentle rolling topography and has been improved with three north-south oriented terraces to keep topsoil in place on the farm. On the northern one-third of the tract, there is a densely wooded block of timber with multiple pinch points making this even more attractive for the avid outdoor hunting enthusiasts. Greenbrier Creek, located just northeast of the property, and the small tributary flowing through the timber provides a year-round water source for wildlife. This combination of open cropland acres on the southern two-thirds of the farm combined with the heavily wooded timber on the north provides the perfect year-round ecosystem for wildlife, including deer, turkey, and pheasants for endless recreational opportunities!
Property Information
Lot Size
79 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
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Location
Address
00 110th Street
City
Jamaica
State
IA
Zip Code
50128
County
GUTHRIE
Listing
Name
Phone
(515) 745-3192
Office Name
Office Phone
(515) 222-1347
Agent Name
Doug Bear
Agency Phone
(515) 222-1347

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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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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.