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00 Lisbon Street
Pleasantville, IA 50225
Daran Becker with PEOPLES COMPANY, original listing - (515) 222-1347
$600,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
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Property Description
Offering a remarkable 92.3-acre farm, just 3.5 miles south of Pleasantville, Iowa, combining prime tillable land with building site opportunity and recreational appeal. Situated on Lisbon Street, just over a half mile off pavement, the farm features 80.47 FSA cropland acres with approximately 51.91 acres currently in production and an additional 17.36 acres currently used for hay. The average CSR2 soil rating on the FSA cropland acres is 49.4, with primary soil types of Colo silty clay loam, Bauer silt loam, and Sharpsburg silty clay loam. The remaining balance of the farm includes a grass waterway, a timber-lined creek, and a 0.5-acre stocked pond. The creek is a major travel corridor for the whitetail deer and turkey in the area with excellent locations for food plots and stands. If the buyer wishes to sell off a building site the survey and driveway approval has been completed. Rural water and electric are at the road. The farm is improved with terraces and 15,160 feet of drainage tile, allowing for excellent drainage off the property. See the attachment "Tile Map" for more information regarding tile location. *Not all drainage tile is shown on the map. Contact the Listing Agent for more details. This is an excellent chance to acquire an affordable, versatile farm in Marion County, Iowa, with outstanding potential. For more information, please reach out to the Listing Agent.
Property Information
Lot Size
92 acre(s) square ft
Property Type
Land-Other
Year Built
--
MLS Number
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Location
Address
00 Lisbon Street
City
Pleasantville
State
IA
Zip Code
50225
County
MARION
Listing
Name
Phone
(515) 979-3498
Office Name
Office Phone
(515) 222-1347
Agent Name
Daran Becker
Agency Phone
(515) 222-1347

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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.