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23456 K42
Merrill, IA 51038
$529,995
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
2948
Property Description
Announcing your ideal acreage set up: a large brick ranch style home, a Quonset building, storage shed and the cutest little country store all packaged up and sitting on 4.19 square acres. This can all be found on a hard surface road just a few minutes outside the quaint town of Merrill, IA. The home greets you with its covered open porch. Upon entry you will find a light filled living room, a large eat-in kitchen with eating peninsula and a formal dining which walks out to the Screenbuilders back porch. The south wing of the main floor has three nice sized bedrooms and shares a full bath that has a new sink. On the north side of the main floor you will find the guest quarters which houses the 4th bedroom, laundry facilities and a 3/4 bath. This area has its own rear entrance and a pocket door separates it from the remainder of the main floor which offers endless opportunities for living. The full basement offers a large L-shaped entertaining room. There are also two additional large storage areas in the lower level. The home is all-electric, has a 99 gallon water heater and a whole house water filter. The 42x60 Quonset building has a concrete floor, work bench and loft area. It would be ideal for storage and a variety of hobby purposes. The 10x14 storage shed has a wood burner and is also great for storage use. One of the shining stars of the property is the sweetest Country Store one has ever seen. This 912 sq. ft. building is heated, cooled, sheet rocked and painted. It has most recently been used as an antique shop. There is a garage door at the rear of the building and would be great for an accessory dwelling unit (would just need water and a bathroom), a nice studio space or whatever else you desire. There is a neighbor that has cash rented some of the land on the south and east sides for corn. This is really a nice, unique and totally livable property just ready for its new owner.
Property Information
Lot Size
4 acre(s) square ft
Property Type
Residential
Year Built
1974
MLS Number
822594
Location
Address
23456 K42
City
Merrill
State
IA
Zip Code
51038
County
PLYMOUTH
Listing
Provider
Keller Williams Okoboji, original listing
Name
Keller Williams Okoboji
Phone
(712) 336-1240
Office Name
Keller Williams Okoboji
Office Phone
(712) 336-1240
Agent Name
Tonya Vakulskas

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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.