Home for Sale at 905 Pats Court, Walker, IA 52352

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905 Pats Court
Walker, IA 52352

Warren Engelbart with REAL ESTATE AMERICA, INC., original listing - (319) 981-1200

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Property Details

List Price:	$377,625
Beds:	3
Baths:	Full: 2
Status:	Active
SqFt:	1425 Square Feet
Agency:	REAL ESTATE AMERICA, INC.
Agency Phone:	(319) 981-1200

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Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	2021
Notes:	Great small town living in a Walker, Ia. Location is on a cul-de-sac near the edge of town. Home has a zero entry entrance from the front door with 3.0 doors through the main level for handicap accessibility. Floor plan is split bedroom arrangement with the primary bedroom off the kitchen. Great wrap around kitchen with quartz counter top, breakfast bar and lots of storage. Vaulted ceiling in the living room with 9 ft ceilings through out the main level of the home. Main floor laundry. Basement with 2 egress windows and stubbed for two lower level bathrooms. Basement floor has in-floor hot water heat. To further the utility cost savings of the home the basement foundation and main level walls are constructed with Insulated Concrete Forms (R-22) with with rebar to provide additional reinforcement and strength. There is also a storm shelter in the lower level. Attic insulated with 4" Open Cell Spray Foam followed by 18" Blown Fiberglass Insulation creating a R-65 total insulation value. Two Car garage also has in-floor heat with R-50 Insulation in the garage attic. Future deck will be 12 x 12. Great curb appeal with porch style entry appearance. Schedule your private showing today.
MlsNumber:	--
ListingId:	2407140

Listing Provided By:	REAL ESTATE AMERICA, INC., original listing
Phone:	(319) 981-1200
Office Phone:	(319) 981-1200
Agent Name:	Warren Engelbart
Disclaimer:	Copyright © 2024 Cedar Rapids Area Association of REALTORS®. 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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