Home for Sale at 915 S Ferdinand Avenue, Forest Park, IL 60130

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915 S Ferdinand Avenue
Forest Park, IL 60130

Nicole Wheatly with EXIT Strategy Realty, original listing - (312) 554-5478

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Property Details

List Price:	$349,900
Beds:	6
Baths:	--
Status:	Active
SqFt:	--
Agency:	EXIT Strategy Realty
Agency Phone:	(312) 554-5478

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential Multi Family-Other
Year Built:	1911
Notes:	Welcome to 915 S Ferdinand Ave, a truly unique two-flat frame property brimming with character and potential. Nestled in the heart of Forest Park, this rare find offers spacious living with a solid foundation and excellent structural integrity. Each unit boasts generous room sizes, high ceilings, and an abundance of natural light, creating a warm and inviting atmosphere. The property's classic architecture features charming details that are increasingly hard to find, making it an ideal canvas for those looking to infuse their personal touch. The first-floor unit offers a traditional layout with multiple bedrooms, a sizable living room, and a separate dining area, perfect for entertaining or family gatherings. The upper unit mirrors the spaciousness of the first, providing versatility for multi-generational living or potential rental income. Situated on a tree-lined street in a desirable neighborhood, this property offers both tranquility and convenience. You'll enjoy easy access to local shops, dining, and the vibrant downtown area of Forest Park. Plus, it's just a short drive to major highways, making commuting a breeze. The building's solid bones are complemented by a large backyard, ideal for outdoor activities, gardening, or simply relaxing. The property also features ample street parking. Whether you're an investor looking for a prime opportunity or a homeowner searching for a unique property to call your own, 915 S Ferdinand Ave is a must-see. With a little creativity and vision, this gem can truly shine. Don't miss out on this rare opportunity to own a piece of Forest Park charm!
MlsNumber:	--
ListingId:	12169120

Listing Provided By:	EXIT Strategy Realty, original listing
Phone:	(312) 493-0920
Office Phone:	(312) 554-5478
Agent Name:	Nicole Wheatly
Disclaimer:	Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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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