Parkland Homes - November 12, 2021

132 Commercial Drive • Fredericktown • 783-4600

Parkland

HOMES

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www.fredericktownmorealestate.com #21080283 18 Villages at Chaumette Farmington

w NetiNg Lis

$499,900

VILLA AND SUITE IN THE VILLAGES AT CHAUMETTE: Located in the beautiful rolling hills of the Missouri Ozarks Wine Country, this fully furnished 4-BR, 4-BA high end, luxurious villa offers some breathtaking views from the L shaped wraparound porch & balcony.

#21076041 404 Saline • Fredericktown

$134,900

BUILT IN 1890, REMODELED IN 2021: The search is over, take a look at what I found.

This 3-BR, 2-BA updated 1.5 srory is just perfect for the growing family. It offers new windows, roof, H&A, siding, updated electric, updated bathrooms, kitchen and the list goes on!

#21073096 608 weSt Main Fredericktown

$295,000

BUILT IN 1945 AND LOADED WITH CHARACTER: Located on the West side of Fredericktown, this one of a kind 4 or 5-BR, 2.5-BA offers a charming brick & stone construction with great curb appeal.

#21052053 1015 Mary rd • Farmington

$695,000

2-BR, 2-BA HOUSE W/TWO 2-BR, 1.5 BA DUPLEXES, 5 UNITS TOTAL: Whether you’re looking for an investment or maybe you would like to have the whole family close, this might be just what you’ve been looking for.

#21031591 679 rockShire dr herCulaneum

$249,900

3-BR, 2-BA Ranch @ Providence Subdivision in Herculaneum: Tired of trying to find a home is this market? This new construction home is currently being built with an expected finish date of December 31, 2021.

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Tom Priday 573-760-3518 Broker/Associate Kay HarPEr 573-760-7943 Sales Associate JaSoN dEES 573-760-5626 Sales Associate LaNcE curEToN 573-561-4400 Sales Associate miSTy BroWN 573-944-7749 Sales Associate

Friday, November 12, 2021

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1136B N Desloge Dr. - Desloge Belgrade / $750,000

21076923

21078443

Bonne Terre / $209,900

Bonne Terre / $399,000

Total remodel with over an acre of wooded privacy in the gated community of Terre Du Lac. Property sits near Lake Capri and includes 3 bedroom and 3 full bath, vaulted ceilings, large wrap-around deck and a finished basement. Looking to unwind and get-a-way? Terre Du Lac is located just 1 hour south of St. Louis and grants members access to 16 lakes, 2 private beaches, multiple play grounds, bike trails, a dog park, and so much more! Don’t wait schedule your showing today and take advantage of all this home has to offer.

Back on the market, no fault to seller. Beautiful lake front custom home with 5 bedroom 4 bath and 3600+ living space in the private community of Terre Du Lac. This home will charm you the moment you step through the front door. Attention to detail is found throughout the property. The carved mocha bamboo flooring on both the first and second level is a stunning contrast against the white trim. Kitchen has all the upgrades with granite counters, arabesque glass tile backsplash, two toned cabinetry, large center island and all stainless steel appliances. The dining room has a beautiful electric fireplace with wrapped shiplap and a great view of Lake Tiffany. Bedrooms and laundry room are located on second level for added convenience. The master suit welcomes you in with frosted glass French doors, walk-in closet and a gorgeous master bathroom. Finished basement offers plenty of room for entertaining as well!

21074768

De Soto / $450,000

Park Hills / $250,000

Welcome home! This spacious total electric home features 5 bedrooms and 3 bathrooms, nestled on 5 acres, and complete with a 3 car attached garage & 2 car carport.

This home welcomes you as soon as you enter the front door through the large foyer. The main level with divided floor plan has space for all, with a large living room with wood burning fireplace, spacious updated kitchen, a formal dining room, and inviting master bedroom with ensuite bathroom. Finishing out the main level is 2 additional bedrooms, bathroom, and laundry room. Enjoy the scenic views from the screened in deck, or head down the patio for relaxing or entertaining family and friends. The lower level is like having a whole separate home! Downstairs you will find 2 bedrooms, 1 bath, a kitchenette, living room/ dining room combo, & large storage area.

Great commercial property in prime location.

Approximately 2800 square foot building on a 75 x 150 lot. The building provides 12’ ceilings, 2 bathrooms (1 handicap accessible), office area, washer and dryer hook ups, drinking fountain, new air conditioning units. When the building was purchased it had a 400 amp single phase service. The current owner has added 1200 amp 3 phase 208v with 300kVa transformer, wiring can handle 500kVa, surge protected 1200 amp panel with (3) 400 amp sub panels, (16) 60 amp breakers, currently 12 circuits already wired.

Additional upgrades include 10,000 CFM exhaust fans, variable speed with thermostat controlled switch, automatic shutters, and weatherhood. 60x60 air intake louvers with manual dampers, and washable air filers, roughly 100 overhead 15watt linear LED light bulbs (T8 replacements) with motion sensors.

20077976

Needing to Buy or Sell?! Call Vicky Crocker Realty TODAY, and Let Us Do the Running For YOU!! www.facebook.com/vickycrockerrealty

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21060368

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Picturesque property! Gorgeous all brick 3 bedroom, 3 bath home with over 4000 square feet of living space.

This home sits on 43.48 acres with pond & fabulous inground pool. The property is also home to a Historical cabin built in 1875! Entering the home the large entry way with columns & archways welcomes you into the spacious great room with beautiful marble fireplace for cool winter evenings.The spacious kitchen with granite counter tops, lots of cabinets plus a view while preparing meals. An extremely large formal dining room is great for family gatherings or entertaining. The master bedroom & oversized master bath with double sinks, jetted tub, large tiled walk in shower, water closet & a dream closet makes you feel like a guest in your own home.

Daily Journal Weekly Real Estate

573.747.8099 573.327.8300

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HOMEWISE

Real Estate Tips and Advice

Homeowners Insurance

By ANNA CHANG-YEN | Green Shoot Media

feature of this type of coverage is that it protects your property no matter where it’s at — whether it’s in your home or vehicle or across the world while traveling.

Personal liability coverage usually excludes situations in which you are the aggressor, such as a physical altercation.

Homeowner’s insurance is more than just protection from major disasters, such as a fire or storm. Your policy likely includes a range of protections that can safeguard your financial interests in such situations as someone being injured on your property or having your personal belongings lost or stolen.

Get to know your homeowner’s policy and how it protects you.

VALUING YOUR PROPERTY When you suffer a loss that is covered under your insurance policy, you’ll need to know how your policy specifies that your property be valued. Actual cash value means the replacement value of the item minus depreciation.

Replacement coverage covers the full cost of replacing an item without taking depreciation into account. For example, if you own a home theater system that cost $1,500 when it was purchased five years ago, a policy that reimburses you for the actual cash value might only pay you $700, while replacement coverage would pay out whatever it costs to replace the system today.

TYPES OF COVERAGE Homeowner’s insurance typically provides three types of coverage: property damage, personal property loss and personal liability.

Property damage coverage is meant to compensate you for damage and destruction of your home. Personal property loss compensates you when your belongings are lost or stolen. Personal liability protects your assets from lawsuits by someone who claims you are at fault for their injury.

Know which types of events are covered in regards to damage to your home. For example, earthquakes and flooding typically are not covered. You may be able to buy additional coverage to cover your living expenses while your home is being repaired.

Personal property coverage usually excludes property lost

WHAT’S NOT COVERED? © FOTOLIA

or stolen due to your own negligence, and if you own certain pricey items, such as

art or jewelry, you’ll probably need additional coverages for those specific items. A nice

Aside from floods and earthquakes, there are other situations in which your homeowner’s policy might not pay out. Other typical exclusions include war, government action, earthquake and a poor repair job.

REAL ESTATE 101

Escrow or Go it Alone?

Many loans require that property taxes and homeowner’s insurance be included in the monthly mortgage payment. Only conventional mortgages in which the owner has more than 80 percent equity usually allow a buyer to pay these expenses on his own.

Otherwise, expect to have these costs included in your monthly mortgage payment and paid out by the lender to the insurer through an escrow account.

If you have a garage apartment you rent to tenants and a storm damages the roof, your tenants’ belongings will not be covered. (The renters also should have their own renter’s insurance policy.) You can probably purchase additional coverage to protect yourself from liability claims by tenants.

In addition, if you own a business and keep business-related office equipment or product inventory in your home, you should check your policy document to see if those items are covered. If it is covered, the limit is probably low.

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(573) 207-3969

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HOMEWISE

Real Estate Tips and Advice

Creating a Picture of Your Income What do restaurant servers, used car salespeople and CEOs have in common? They all might find it challenging to document their income when it comes time to apply for a mortgage.

A salaried worker’s paycheck provides stability that mortgage companies love.

Bonuses that ebb and flow with sales or performance — or more troublesome, the general state of the economy — make banks nervous. And what about your annual bonus that varies from year to year?

The housing crisis that began in 2008 came about in no small part because of mortgages for which buyers were able to state their own income, with no independent verification. These “stated income” loans are no more, and it’s easy to see why lenders are taking a much closer look at each applicant’s bottom line.

Fannie Mae’s own policies leave no question about the matter: “Fannie Mae’s underwriting guidelines emphasize the continuity of a borrower’s stable income. The stable and reliable flow of income is a key consideration in mortgage loan underwriting. … To demonstrate the likelihood that a consistent level of income will continue to be received for borrowers with less predictable sources of income, the lender must obtain information about prior earnings. Examples of less predictable income sources include commissions, bonuses, substantial amounts of overtime pay, or employment that is subject to time limits, such as contract employees or tradesmen.”

All this uncertainty doesn’t mean you can’t qualify for a mortgage, but it does mean more hoops to jump through. If you earn salary and commission and

considered favorably if the underwriter can document the likelihood that the income will continue, and soundly rationalize accepting the commission income.”

In addition, job changes can be tricky for workers who earn commission, as banks may not assume that you will continue to earn the same amount going forward.

Tipped workers will have an easier time of proving their earnings, since the IRS requires employers to track even cash tips for tax purposes.

THE PAPER TRAIL

© FOTOLIA

If your income comes in pieces, it may be more difficult to qualify for a mortgage. your salary income is enough to qualify you for the mortgage, you can breathe a sigh of relief.

comes but once a year), income that’s sloping downward can create problems.

In this instance, the underwriter may be required to use the more recent, lower THE TWO-YEAR STANDARD amount of income to determine how A key measure that is common in the much home a buyer can afford. mortgage industry is a borrower’s Knowing this before you go home income over the most recent two years. shopping can help temper your expecThat’s the time period it seems that the tations, or allow you to time your home Department of Housing and Urban purchase to maximize your buying Development considers sufficient to power. establish a worker’s income and provide Any major fluctuations over the presome assurance that it will continue at vious two years can be troublesome. that level.

“Commission income showing a The ideal situation for a worker decrease from one year to the next whose compensation varies is an requires significant compensating facincome that rises over time. While an tors before a borrower can be approved applicant whose compensation is for the loan,” according to HUD stantrending upward will see his last two dards. “A borrower whose commission years’ income averaged over the past 24 income was received for more than one months (even if a large portion of it year but less than two years may be

In any event, workers whose incomes vary from paycheck to paycheck will be required to show proof of all income for at least the last two years. Provide pay stubs, W-2s or 1099 forms and tax returns, (IRS Form 4137 for tips). Selfemployed applicants should provide profit and loss statements.

REAL ESTATE 101

Staying on Track Qualifying for a mortgage may show that you’ve demonstrated some financial responsibility, but owning your first home can bring temptation to spend on new furniture, remodeling and other unnecessary items. Investopedia offers a list of 7 Smart Steps Every New Homeowner Should Take. Read the list at http://bit. ly/1c3a83a.

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Rae Ruth Adams Bonne Terre NMLS #1906657 (573) 358-3388

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Westmeyer Meadows

Farmington $369,900 Gorgeous 3 bedroom 3 bath home feels cozy as soon as you walk through the front door! With over 2000 square foot home (including the finished basement) and located just off Old Fredericktown Rd in Westmeyer Meadows Subdivision you’ll love the convenient location. This beautiful home features mahogany floors throughout the main level which extends into closets, ceramic tile in master bath which features whirlpool tub and his/hers closets. An all seasons room surrounded by windows and is the perfect place to unwind with your book and tea, this room walks out to the patio.

You’ll love the updated landscaping, upgraded just last year. In addition, has full finished basement with mini bar area situated in theater room a family room and additional full bath. Don’t let this one slip by-call today for your tour.

21073817

6.18 ac m/l

Farmington $279,000 Country living at its best. This 3 bed 2 bath ranch has been freshly painted and is ready for your family to move in! A nice home on a great tract of land does not come around often, this property could be used for a number of recreational purposes and even offers a fantastic spot for a garden! With a 20 x 20 shed, and a 38 x 36 detached garage, your family will have plenty of storage and room to grow. Call today to schedule your showing!

21076728

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