Home for Sale at 1205 S Linden Street, Normal, IL 61761

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1205 S Linden Street
Normal, IL 61761

Becky Gerig with RE/MAX Choice, original listing - (309) 664-8500

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Property Details

List Price:	$239,900
Beds:	3
Baths:	Full: 2
Status:	Active
SqFt:	1532 Square Feet
Agency:	RE/MAX Choice
Agency Phone:	(309) 664-8500

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Description/Comments

Lot Size:	0 sqft
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1945
Notes:	SOLD AS IS, just needs some TLC, family home for many years. Much larger than it looks. This property has an extra deep lot, part of the yard is fenced. This was a park like setting, very private, lots of plantings, past owner was a master gardener. There are, blueberries, raspberries a grape arbor with 3 cherry trees, apple trees. The property runs up to the constitutional trail. Two sheds in the back yard, one has electrical both on concrete pads. There outlets are run on a post in the back yard for entertaining, electrical lawn care equipment and lighting. Oversized 1 car attached garage. Drive way has a side drive with extra front parking. 2 gas log Fireplaces, one up one down. Lower level is a walk out with a 22 x 8 green room. Taxes reflect senior and homestead exception. Multiple exits out of the basement, including a walkout lower level to the back yard. Laundry in the basement. Lots of hardwood under the carpet, 2 cedar closets 2 full baths on the main, 3 bedrooms on the main. Furnace 2022, AC not sure the age, roof 2011, windows have storms replaced not original age unknown .water heater age unknown. Master bath has a new shower stall in 2022, Large living room on main with gas fireplace. Oversized 1 car attached garage. This property is backed up to the Constitution Trail it is so very private, like a back yard park like setting.
MlsNumber:	--
ListingId:	12208277

Listing Provided By:	RE/MAX Choice, original listing
Phone:	(309) 212-4120
Office Phone:	(309) 664-8500
Agent Name:	Becky Gerig
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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