Home for Sale at 680 NE 2nd St, Primghar, IA 51245

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680 Ne 2nd St
Primghar, IA 51245

Dean Fjeld with Northwest Realty, original listing - (712) 441-2229

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Property Details

List Price:	$339,500
Beds:	3
Baths:	Full: 2
Status:	Active
SqFt:	1450 Square Feet
Agency:	Northwest Realty
Agency Phone:	(712) 441-2229

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Description/Comments

Lot Size:	0 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2024
Notes:	This is a great opportunity to get in early on the construction of a new duplex across the street from the Primghar Golf Course. Similar neighborhood units have always been in high demand and this one won`t disappoint!! This will make a great location for your new home. The east half of the duplex is already sold. A buyer of the west half, if they act soon, could have the opportunity to make some minor modifications of the interior layout to better suit their personal needs. The proposed layout, in the blueprints pictured here, features 1450 square feet to include three bedrooms and two bathrooms. Buyers typically ask for an open floor plan and this duplex offers that between the living room, dining room and kitchen. The kitchen has a nice sized walk in pantry and extra space for an island. The laundry room is conveniently located close to the bathrooms and bedrooms. The size of this unit will accommodate a lot of people at various stages of their lives. As part of the purchase price, the seller has offered the following allowances for the buyer to apply to items of their personal choice. $15,000 allowance for kitchen cabinets, bathroom vanities, and countertops $350 allowance for landscaping shrubs or trees $375 allowance for mirrors and bathroom hardware $650 allowance for closet shelving, rods or organizers $500 allowance for light fixtures $10,000 allowance for floor coverings..
MlsNumber:	--
ListingId:	825125

Listing Provided By:	Northwest Realty, original listing
Phone:	(712) 348-4214
Office Phone:	(712) 441-2229
Agent Name:	Dean Fjeld
Disclaimer:	Copyright © 2024 Northwest Iowa Regional Board 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.

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