Home for Sale at Lot 24 Wyllys Farm Road, Mansfield, CT 06250

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Lot 24 Wyllys Farm Road
Mansfield, CT 06250

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Property Details

List Price:	$589,900
Beds:	4
Baths:	3
Status:	Pending
SqFt:	2417
Agency:	Keller Williams legacy partners

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Description/Comments

Lot Size:	1 acre(s)
Property Type:	Residential
Year Built:	2023
Notes:	New custom home, to be built, for delivery in 2023, with just added ultra-efficient energy upgrades to minimize your heating and cooling costs! This spacious open floor plan colonial, just off Beacon Hill Drive, a premier location in Mansfield, CT. There is time to add custom finishes and features. Own this classically styled colonial with exceptional craftsmanship. Located at Wyllys Farm, a cul-du-sac community in Mansfield, CT where privacy abounds. This home now features 9' first floor ceilings with a first floor open floor plan, hardwood flooring throughout the first floor (tile in baths and mudroom), large living room and dining, half bath and mud room. First floor also features a home office space. There is an attached, 2 car garage. The upstairs has 3 bedrooms, a large bonus/rec/bed room, a laundry, shared bath. The full featured primary bedroom suite has a large walk in closet and private bathroom. This home features central air conditioning, warm air heat (propane), granite counter tops, premium kitchen cabinets, recessed lighting, and many other amenities - a deluxe new home experience. This is a custom built home, to be built by S. R. Blanchard, Inc. Eastern Connecticut's Premier Home Builder. They make buying a home as easy as buying an existing home and provide the construction financing. The assessment and tax info on this listing is for the lot, the assessor will establish the assessment and property address when the home is completed.
MlsNumber:	170547321

Listing Provided By:	Keller Williams legacy partners, original listing
Name:	Keller Williams legacy partners
Office Name:	KW Legacy Partners
Office Phone:	(860) 313-0700
Agent Name:	Rick Nassiff
Disclaimer:	Copyright Â© 2024 SmartMLS, 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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