Home for Sale at 1017 Shelby Drive, Adel, IA 50003

1017 Shelby Drive
Adel, IA 50003

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Property Details

List Price:	$535,000
Beds:	6
Baths:	3
Status:	Pending
SqFt:	1900
Agency:	eXp Realty, LLC

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2014
Notes:	Space, space, space. This 6-bedroom, 3-bathroom home has all the extras with plenty of style. Located just blocks from the Adel Family Aquatic Center and less than 3 minutes from ADM High School, this stunning and modern family home is ready for new owners. Pull into an oversized driveway trimmed by professional landscaping and park in one of the three stalls of the attached garage. Out-back, you will be wowed by a concrete patio, upper deck, and a massive, custom firepit with tiered landscaping, which complements the spacious yard. Step inside to a neutral palette and natural light, highlighting the tray ceilings and modern light fixtures. The great room sits open to the kitchen, with room for dining and a massive island that seats 3-4 more. The white cabinets and stainless appliances provide a timeless, clean space that offers plenty of storage. The main floor includes the laundry, two bedrooms, a full bathroom, and a spacious master suite with an incredible attached bathroom with a custom vanity. The lower level is what makes this home a must-see. Huge family room spaces offer options for a home theatre and a family room/game room, with the convenience of a kitchenette. Three more large bedrooms and an oversized bathroom with two vanities make the lower level perfect for guests or older children. Walk out the lower level to enjoy the expanded patio space. With built-ins and thoughtful touches in each room, this home is one-of-a-kind and worth a tour today!
MlsNumber:	695461

Listing Provided By:	eXp Realty, LLC, original listing
Name:	eXp Realty, LLC
Phone:	(833) 835-5566
Office Name:	EXP Realty, LLC
Office Phone:	(833) 835-5566
Agent Name:	Adam Bugbee
Disclaimer:	Copyright Â© 2024 Des Moines Area Association of REALTORS Â®, Inc. 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