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29701 W Spring Branch Road
Elberta, AL 36530
$1,450,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3459
Property Description
Captivating waterfront residence nestled on over 0.5 acres along Spring Branch in Elberta with high elevation! Come enjoy the wildlife, dolphins, manatees, deep water which is protected by large parcels of land on a quiet, dead-end street. Welcomed by a spacious circular driveway catering to many guests, 17x19 garage utilized for storage and 11x13 workshop area with cabinets and ample space. Enter through the beautiful breezeway and step up to the street side door. You are greeted by an open family room w/ wet bar area and ice maker. Family room, kitchen, and breakfast area have tile floors, smooth ceilings and breathtaking water views. Kitchen has stained, raised panel cabinets, electric stove, microwave, double oven, refrigerator, dishwasher and tile counter tops. The 49x11 screened-in porch has fans, tile flooring and separate open grilling deck. 3 carpeted main floor BR’s w/ ensuite full baths featuring single sinks, open toilets, linen closets, and tub/shower combos. BR 1 offers dual walk-in closets. BR 2 connects to Bath 2 with hallway access. BR 3 has sitting area and walk-in closet. Lower level unveils a 2nd family room enhanced by a wood-burning fireplace and a convenient wet bar area. Double doors lead out to porch and fenced fiberglass pool area, creating an ideal space for relaxation. BR 4, featuring tile flooring, adjoins a 4th bathroom offering a single sink, open toilet, tub/shower combo, closet, linen closet and direct pool area access. Sidewalk path to an open dock, bulkhead and covered boat lift. Water/power to boathouse. Home built in 1975, renovated and addition in 2001: Perma Form Vertical, quality ICF built w/ expanded polystyrene insulation and internal wire structure which creates skeleton for the concrete core. New roof 2019, water heater 2013, water well, propane tank for generator, gutter. All information provided is deemed reliable but not guaranteed. Buyer or buyer’s agent to verify all information.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
--
MLS Number
359574
Location
Address
29701 W Spring Branch Road
City
Elberta
State
AL
Zip Code
36530
County
BALDWIN
Listing
Provider
Coldwell Banker Reehl Properties, original listing
Name
Coldwell Banker Reehl Properties
Phone
(251) 990-6622
Office Name
Coldwell Banker Reehl Prop Fairhope
Office Phone
(251) 990-6622
Agent Name
Rhonda Hice

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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.

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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.