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2533 160th Avenue
Donnellson, IA 52625
$984,400
Conventional
Property
Bedroom
2
Bathroom
1
Property Type
Conventional
Square ft
420
Property Description
This remarkable southeast Iowa property has a private lake, a Morton-built barndominium, CRP income, phenomenal hunting and fishing, and a premier future building site! It’s conveniently located between Donnellson and Argyle, just two miles west of Highway 27—which is perfect for southeast Iowa buyers and those who need to be near northern Missouri or Western Illinois! Approximately 75 acres are in the Conservation Reserve Program, which pays $140 per acre or about $10,500 annually. These fields are in beautiful native warm-season grass, which is excellent for wildlife, especially pheasants and quail. The CRP has been well-managed, with established green firebreaks that give an architectural look while allowing efficiency for prescribed burning. A flat driveway leads to a secluded barndominium that overlooks a stocked lake! Constructed in 2009, the 30-foot deep lake has silt retention pipes for water quality, a large dam, a pier-like peninsula for casting, and a dock. There's also a stocked pond north of the lake. The Morton building is a two-bedroom, one-bathroom with a heated shop. It has rural water, high-speed internet, and oversupplied utility services. The utilities are here if you want to build a new home on the perfect hillside that overlooks the lake. Two 20x20 open sheds provide additional vehicle and equipment storage. While the fishing is phenomenal, the property offers excellent hunting opportunities for pheasants, quail, small game, turkeys, and whitetails.
Property Information
Lot Size
104 acre(s) square ft
Property Type
Residential
Year Built
--
MLS Number
6314237
Location
Address
2533 160Th Avenue
City
Donnellson
State
IA
Zip Code
52625
County
LEE
Listing
Provider
Whitetail Properties RE, LLC, original listing
Name
Whitetail Properties RE, LLC
Phone
(217) 285-9000
Office Name
Whitetail Properties Real Estate, LLC
Office Phone
(217) 285-9000
Agent Name
Benjamin Harshyne

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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.