Home for Sale at 7643 Enfield Avenue, Morton Grove, IL 60053

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7643 Enfield Avenue
Morton Grove, IL 60053

Mary Yonehara with Keller Williams Success Realty, original listing - (847) 381-9500

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Property Details

List Price:	$499,900
Beds:	3
Baths:	Full: 2
Status:	Active
SqFt:	2020 Square Feet
Agency:	Keller Williams Success Realty
Agency Phone:	(847) 381-9500

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Description/Comments

Lot Size:	0 sqft
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1964
Notes:	The original owner has lovingly cared for and updated this beautiful and spacious brick home through the years! Brand new boiler in 2023, the roof is 5-7 years old, the oven was replaced in 2024, the 2nd floor windows were replaced 2-3 years ago, and the microwave approx. 5 years ago. In addition, the kitchen was updated, the water heater was replaced, and Space Pac air conditioning was added in the past. There's plenty of room to entertain and spread out in this impeccable home-huge family room, l-shaped living and dining rooms, 3 upstairs bedrooms, 2 full baths, and a partially finished sub-basement with office/den. Lots of natural light coming from every direction, oak hardwood flooring, an eat-in kitchen with window over the sink, 2 side entries, an enclosed back entrance, and a large front picture window are some of the many nice features of this home. The professionally landscaped yard with inground sprinkler system is so lovely that we have included the seller's pictures of different times and seasons for you to view. The detached garage was built in 1969. The large concrete drive makes a great patio as well! Top notch Nelson Elementary School and Notre Dame Prep. School are both within a few blocks of the home. Also, Oriole Park and Aquatic Center is .6 mile away! Here's your chance to be the second owner of this wonderful home! The attached gas grill works, and the garage heater may but have not been used in a long time so will be conveyed in as-is condition.
MlsNumber:	--
ListingId:	12122521

Listing Provided By:	Keller Williams Success Realty, original listing
Phone:	(847) 381-9500
Office Phone:	(847) 381-9500
Agent Name:	Mary Yonehara
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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