Home for Sale at 3285 W Forest, FREEPORT, IL 61032

3285 W Forest
Freeport, IL 61032

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Property Details

List Price:	$634,900
Beds:	4
Baths:	5
Status:	Active
SqFt:	2000
Agency:	Christensen HomeTown Realtors

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Description/Comments

Lot Size:	5 acre(s)
Property Type:	Residential
Year Built:	--
Notes:	Custom built home with over 6,000 finished square feet sitting on 5 acreas in a scenic serene countryside area. This area is very calm and inviting while close to city life and all the amentities. Krape Park backdoor is a short car or bike ride away. This four bedroom, 4.5 bath home is very amenable for many lifestyles. Hardwood flloring, tile and carpet, many built ins, main floor bedroom suite with sitting area , walk-in closet and complete bath. Formal dining room, den, office, or libraray with built-in shelves and desk. Sunken bonus area again, with your choice of use. Upper level had three bedrooms, 2 baths, walk in closets and an addition bonus area that can be your choice as to what to do. The loft affect is highlighted from the front door forward to the two main levels. Main floor also has a nice size laundry room, kitchen with all the bells and whistles and a pantry. The lower level is walk -out to nature at your back door. Professionally landscaped and maintained to add to the beauty. Wet bar, four finished rooms, full bath, mechanics room, zoned AC, active radon system, home is wired for internet. New roof in 2022, deck off kitchen eating area for enjoyable sitting. Three stall attached garage in addition to an unattached 4 stall heated garage. If unique is what you seek, this is your property to call home, or a peaceful get away. Christensen Home Town Realtors does hold earnest money.
MlsNumber:	202402140

Listing Provided By:	Christensen HomeTown Realtors, original listing
Name:	Christensen HomeTown Realtors
Phone:	(815) 233-7355
Office Name:	CHRISTENSEN HOME TOWN, REALTORS
Office Phone:	(815) 233-7355
Agent Name:	MARGARET CHRISTENSEN
Disclaimer:	Copyright Â© 2024 Rockford Area MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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.

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.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing