Home for Sale at 11 Mills Place, Belleville, IL 62226

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11 Mills Place
Belleville, IL 62226

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Property Details

List Price:	$199,000
Beds:	3
Baths:	2
Status:	Active
SqFt:	1590
Agency:	RE/MAX Preferred

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	1968
Notes:	Welcome home to this beautiful move-in-ready brick ranch on a quiet cul-de-sac! Enter through the beautiful wooden front door with glass details into the living room (currently used as a formal dining room). The living room opens into the eat-in-kitchen, with newly installed tile back splash and stainless-steel kitchen appliances. Through the kitchen, you can access the den/bonus living room with tall ceilings and beautiful accent wall, laundry room (washer/dryer stay), and the oversized garage. On the other side of the home, you have two bedrooms, a full bathroom, plus a master suite w/ faux brick feature wall and en-suite bathroom, for a total of 3 beds/2 baths. Enjoy the simplicity of having everything all on one floor and many updates already done for you. The eat-in-kitchen has a sliding glass door which opens to a large wooden deck &covered patio,perfect for relaxing with a cup of coffee. Property has already passed the municipal occupancy inspection. OPEN HOUSE 4/20 11am-1pm!
MlsNumber:	24022600

Listing Provided By:	RE/MAX Preferred, original listing
Name:	RE/MAX Preferred
Phone:	(618) 531-4887
Office Name:	RE/MAX Preferred
Office Phone:	(618) 624-2111
Agent Name:	Makenzie Fietsam
Disclaimer:	Copyright Â© 2024 MARIS. 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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