Home for Sale at 3123 162nd Street, Urbandale, IA 50323

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3123 162nd Street
Urbandale, IA 50323

Amy Dempsey with Iowa Realty Mills Crossing, original listing - (800) 247-2430

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Property Details

List Price:	$1,575,000
Beds:	8
Baths:	Full: 6, ½: 1
Status:	Active
SqFt:	4085 Square Feet
Agency:	Iowa Realty Mills Crossing
Agency Phone:	(800) 247-2430

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Description/Comments

Lot Size:	1 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2010
Notes:	This single-owner, one of a kind Denton Homes Estate boasts 8 beds, 6.5 baths and over 6,300sf of stunning, top-of-the line finishes. Nestled on an expansive 1.21 acre lot, backing to mature trees, this home provides the privacy and serenity of country living with the convenience and amenities of Urbandale. Situated with the Waukee School District, you're just a short walk from Shuler Elementary and only 10 minutes from NorthWest High School. The quality and craftsmanship of this home are truly remarkable, with thoughtful features like a back staircase off the mudroom and a remarkable hearth room. Custom 8-foot solid core doors and classic Denton trim add to the luxurious feel. With its 556sf deck overlooking the trees and its tastefully finished walkout basement, you'll have plenty of options for entertaining guests. The vast backyard offers plenty of room for a pool or basketball court. In the kitchen you'll find a large island, top of the line appliances and a breathtaking walk-in pantry room with a commercial sized additional fridge and freezer. Through the massive primary bedroom, you'll find an equally sizeable primary closet with gorgeous custom built-ins. Downstairs, you will find additional laundry, 3 bedrooms, a living space and a den. Uniquely, this basement also has over 600sf of heated, unfinished space with tuck-under dual access doors that lead directly to the backyard. The perfect place to transform into a large home gym or to store your riding mower.
MlsNumber:	--
ListingId:	707223

Listing Provided By:	Iowa Realty Mills Crossing, original listing
Phone:	(800) 247-2430
Office Phone:	(800) 247-2430
Agent Name:	Amy Dempsey
Disclaimer:	Copyright © 2024 Des Moines Area Association of REALTORS®, Inc. 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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