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108 Sunburst Circle
Mankato, MN 56001
$579,000
Conventional
Property
Bedroom
5
Bathroom
4
Property Type
Conventional
Square ft
4746
Property Description
This spacious 5 bedroom, 4 bath hilltop Mankato home is located on a gorgeous lot overlooking a peaceful backyard pond. The main level of the home features a spacious open concept living area including the kitchen with center island, wall oven, granite countertops, tiled flooring, a built-in desk and walk-in pantry. The kitchen opens to an informal dining room and living room with gas fireplace. Patio doors open to a large composite deck overlooking the pond. Also on the main level are a half bath, laundry room and a formal dining room and sitting room with hand polished oak flooring. An office is conveniently located just inside the front entry. The upper level of the home has a loft area that would be a great sitting area to enjoy a book or watch television. There are four good sized bedrooms on this level including two guest bedrooms connected by a full Jack & Jill bath, and the primary suite with a double vanity, corner tub, walk-in shower and huge closet. Both main and upper levels of the home are full of windows for bright natural light. The lower level of the home offers a family room with a gas fireplace, doors that walkout to a concrete patio great for grilling (there is a gas connection for fixed gas grill) or sitting by the pond. A set of French doors open to a media room wired for surround sound. A spacious bedroom and full bath are also on this level. A storage room is taped and ready to be painted. The home has many recent updates, including a new water heater in 2022, furnace in 2021, roof in 2012 and air conditioning in 2005. Millwork, doors and windows are made from hand polished/stained solid oak. The landscaping is beautiful and is maintained with an irrigation system. The three car garage is insulated and is taped and ready for a coat of paint.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
--
MLS Number
7031867
Location
Address
108 Sunburst Circle
City
Mankato
State
MN
Zip Code
56001
County
BLUE EARTH
Listing
Provider
CENTURY 21 Atwood Realty, Inc., original listing
Name
CENTURY 21 Atwood Realty, Inc.
Phone
(507) 387-3131
Office Name
CENTURY 21 ATWOOD
Office Phone
(507) 387-3131
Agent Name
Candee Deichman

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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.