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3860 Chestnut Avenue
Long Beach, CA 90807
$2,150,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
4156
Property Description
Welcome home to the grandeur of this extraordinary custom-built 2017 Tudor style home on a spacious corner lot in the highly sought after Los Cerritos/Virginia Country Club neighborhood of Long Beach. No detail was spared in the design of this impressive home that was constructed with steel frame support and boasts 4,156 square feet of living space. As you enter the magnificent double doors, you will experience the immense great room complete with fireplace, vaulted ceilings, custom recessed lighting to showcase sculptures and artwork, two skylights allowing for lots of natural light. The downstairs features a custom oversized kitchen with stainless steel appliances, a breakfast bar, a center island with its own sink, tall counter tops and plenty of cabinets. Downstairs also offers a private family room complete with a closet, full bathroom, wet bar and sliding glass doors to the backyard patio. As you walk up the gorgeous staircase you will come to the landing that overlooks the great room, then leads to the rest of the bedrooms. The primary suite is private and set away from the other rooms. It offers high vaulted ceilings, a see-through fireplace between the bedroom and primary bathroom. Custom walk-in closet with built-ins and finally the impressive upstairs turret, echoing castle aesthetics. The primary bath has an oversized jetted bathtub and a walk-in shower that enjoy the ambiance of the fireplace. There are two more extra-large bedrooms, each with mirrored closet doors plus one has its own full bath. There is also a massive bonus room with a private balcony that is currently being used as a home office but could be used as a 4th bedroom (county records define 3 bedrooms). The laundry room is also upstairs off the hallway. This home features custom dual pane windows and window coverings throughout, security system with exterior cameras, a split HVAC system, finished 3 car garage with hanging racks and side door access to the back yard, an attached exterior storage room with FAH and central air, ceiling fans, the main sewer line was recently replaced and so much more. The back yard has a serene patio area with trees and also has a covered breezeway area if you choose to enjoy the outdoors without the direct sun. There is an avocado tree, custom turf and a side dog run in the back yard to complete this amazing property. You will enjoy this wonderful community with its parks, golf course, unique shopping and restaurants and easy access to freeways.
Property Information
Lot Size
7,197 sqft square ft
Property Type
Residential
Year Built
2017
MLS Number
PW24074332
Location
Address
3860 Chestnut Avenue
City
Long Beach
State
CA
Zip Code
90807
County
LOS ANGELES (LONG BEACH)
Listing
Provider
RE/MAX Real Estate Specialists, original listing
Name
RE/MAX Real Estate Specialists
Phone
(562) 493-3004
Office Name
Re/Max R. E. Specialists
Office Phone
(562) 493-3004
Agent Name
Tracy Sturm

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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.

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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.