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Lot 2 Blk 13 Legend Tr
Lutsen, MN 55612
John Oberholtzer with TimberWolff Realty LLC, original listing - (218) 663-8777
$92,500
Conventional
Property
Bedroom
--
Bathroom
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Property Type
Conventional
Square ft
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Property Description
Out amongst the Tait Lake Pines in Lutsen, at the end of the road, is this peaceful, tucked away lot. Nearly three acres but feels larger as it abuts miles of public lands to the south and dedicated open space to the east. Current owners have provided a good start with clearing, dirt-work preparation, building sites and a sweet southern exposure. There is a lofty feeling here, high and dry in the Boreal Upland. Owner’s trail cam has spied some of the shyer neighbors: fox, bear, etc. In time, you’ll all warm-up to each other! The vibe is quiet, solitude, functioning ecosystem with cool pure air, pristine forest. And, it’s close enough to all the fun: skiing at Lutsen Mts, golf at Superior National, paddling the BWCA, hike Eagle Mt. Also, plenty to do right in the ‘hood: dedicated neighbors have developed a sweet trail system in the open HOA lands. 2 private HOA docks provide access to Tait Lake. Get to know the place a bit, then get your vision together: cute getaway cabin, retirement home, garage for his and her projects! Well maintained roads lead to this gem. Power and fiber purr at the edge of the lot to energize your Northwoods Life. Come get your foothold in the cool north, living the life in a lakeland wilderness.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Land-Single Family Residence
Year Built
--
MLS Number
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Location
Address
Lot 2 Blk 13 Legend Tr
City
Lutsen
State
MN
Zip Code
55612
County
COOK
Listing
Name
Phone
(218) 663-8777
Office Name
Office Phone
(218) 663-8777
Agent Name
John Oberholtzer
Agency Phone
(218) 663-8777

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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.