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49403 Sportsmans Lane
Elysian Twp, MN 56096
Pamela A Davey with Realty Executives Associates, original listing - (612) 990-6375
$412,900
Conventional
Property
Bedroom
3
Bathroom
¾: 1
Property Type
Conventional
Square ft
816 Square Feet
Property Description
Welcome to your slice of paradise on the serene West end of Lake Tetonka, perfectly nestled between the charming towns of Watervilleand Elysian, MN. This one-family-owned, handcrafted cabin, built in 1960 by local carpenters and vendors, offers the perfect retreat for those seekingtranquility and natural beauty. Step inside this seasonal cabin to discover it timeless charm, featuring original handcrafted cabinetry, large upgradedwindows that frame captivating views of the lake. The cozy living room opens directly onto an expansive deck that spans the entire width of the home andwraps around one side, providing the ideal spot to savor breathtaking sunrises over the lake. With 80 feet of sandy lakeshore beach and gradual slope intothe water, you’ll enjoy endless lawn. The updated 3/4bath, 2 electric wall mounted heating units, wall mounted air conditioner, and three invitingbedrooms, one with 4 recently remodeled bunk beds, make this a comfortable getaway for family and friends. Additional amenities include two storagesheds for all your lake essentials, 62’ roll in dock on wheels, 3000lb capacity aluminum lift with canopy and solar charged battery electric lift, rockedparking pad and ample grass parking for vehicles, custom made wooden deck furniture included in the sale. The private road leading to the property wasrecently re-paved, the compliant septic holding tank ensures worry- free living. Don’t miss the rare opportunity to own a prime area lakeside retreat willwith charm and character, ready to create lasting memories for years to come. The interior of the cabin DID NOT GET WET during the flooding of summer2024. Water came up to the cabin and into the crawl space, no damage.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1960
MLS Number
--
Location
Address
49403 Sportsmans Lane
City
Elysian Twp
State
MN
Zip Code
56096
County
LE SUEUR
Listing
Name
Phone
(507) 381-4323
Office Name
Office Phone
(612) 990-6375
Agent Name
Pamela A Davey
Agency Phone
(612) 990-6375

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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.