From the WSJ Real Estate Archives

Repossessed Homes
On the Market for Less

by Sheree R. Curry
From The Wall Street Journal Online
January 26, 2006

The U.S. government sells more than 100,000 homes per year that have reverted to its possession due to seizures or defaults on government loans. Some great deals can be had on large-sized homes. Here are three with 4 bedrooms.

  • Danville, Ill.
  • Decatur, Ala.
  • Loveland, Colo.

PLACE/PRICE: Danville, Ill./ $30,900

PROPERTY TAX*: $2,099 per year

THE PROPERTY: 4 bedrooms, 2.5 baths built in 1880

DESCRIPTION: This home has 3,345 square feet, including a finished basement with a second laundry room and a second kitchen with butler's pantry. A fireplace is in the living room.

NOTABLE: Situated on 2.75 acres adjacent to the Vermillion River, this all-brick one-story with steam heating is on the Illinois Historic sites registry and has four garage stalls, one of which is attached. In 2000 it sold for $70,000.

Note: *Current owner's payment.

Sources: ocwen.com, homesales.gov, Stacyhall.net, tammythomes.com, lovelandhomesales.com

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