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120 Tami Court
Mankato, MN 56001
Kimberly Lingbeck with eXp Realty, original listing - (612) 751-9303
$524,900
Conventional
Property
Bedroom
5
Bathroom
Full: 3
Property Type
Conventional
Square ft
4199 Square Feet
Property Description
Nestled in a serene, tree-lined setting on the outskirts of Mankato, this private, one-owner home offers the perfect combination of tranquility and sophistication. Surrounded by upscale residences, this property includes over 2 acres of private land, providing endless possibilities for outdoor activities, live events, or future additions. The main level features a spacious, vaulted-ceiling great room, complete with a cozy wood-burning fireplace and access to a large deck, ideal for enjoying the picturesque surroundings. The primary bedroom, tucked away in its own quiet wing of the home, is a peaceful retreat with expansive windows that invite natural light and provide stunning views of outdoors. It also includes a generously sized closet with built-in storage and an adjoining 3/4 bathroom. Additionally, a versatile office space offers the flexibility to suit your lifestyle needs. This space is impressive. 2 other bedrooms reside on the main level. The kitchen, laundry, and dining room have been strategically designed and offer timeless class. There are granite counter tops and stainless steel appliances in the kitchen. The walk-out lower level adds exceptional value, featuring a one-bedroom apartment with its own private entrance, perfect for guests, extended family, or rental income. The apartment has its own kitchen and laundry area. Renters are currently living in the apartment. The main area of the house in the lower level is finished in the family and rec room with durable and stylish epoxy floors. Full view windows help you feel like you are not in a lower level plus the rec room leads out to the back yard. The lower level includes a 4th bedroom, family room, rec room, bar area, and a wood burning fire place. Move-in ready and brimming with potential, this property is a rare find for those seeking a private haven close to Mankato’s amenities.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Single Family Residence
Year Built
--
MLS Number
--
Location
Address
120 Tami Court
City
Mankato
State
MN
Zip Code
56001
County
BLUE EARTH
Listing
Provider
eXp Realty, original listing
Name
Phone
(507) 317-7242
Office Name
Office Phone
(612) 751-9303
Agent Name
Kimberly Lingbeck
Agency Phone
(612) 751-9303

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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.