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33111 Serenity Circle
Millsboro, DE 19966
$700,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
2851
Property Description
Spacious and well-maintained 4-bedroom/3-1/2 bath home with a premium location in Delaware's premier gated country-club community, The Peninsula. Get social in the spacious open-concept great room, enhanced by gas fireplace flanked by built-in bookcases to set the room's focal point. There's plenty of space for dining at the table overlooking a paver patio with gas fire-pit, or at the kitchen island breakfast bar. The kitchen features shaker-style cabinetry, gas cooktop, double wall ovens, Corian counter-tops, (including a bi-level counter-top on the island so the chef can socialize, but used dishes and cookware stay out of sight), and pantry. Or withdraw to a quieter space finished with custom millwork and built-in bookcase wall to read a book or go online. The laundry room and powder room are also on this level of the home. Upstairs, you'll find a luxurious primary suite with tray ceiling, crown molding, a private screened porch, walk in closets, and large master bath with walk-in shower, soaking tub, and extra-long double-sink vanity. Three other bedrooms (and two full baths) are also on this level -- one with ensuite bath, one with direct access to the upper porch, and one with ample space for a bedroom & home office combination. This home is oriented toward front-porch living, with porches looking out to a large common lawn that's become a popular spot in the Veranda neighborhood, with its pergola, tables and chairs. Neighbors often gather here to socialize, play games, and form lasting friendships! At the home's rear, there's a bonus -- a recently constructed paver patio finished with a low wall with built-in seating, plus a fire-pit. A 2-car garage with EV charger completes the home's layout -- but the home itself is only part of the story! The Peninsula is a community that must be seen -- it's a place where you can be as busy or relaxed as you like, with golf, indoor pool, multiple outdoor pools, 32,000 sq. ft. full service clubhouse offering casual or formal dining and more, fully equipped and well-staffed fitness center, private bay beach, miles of walking and biking trails, and more -- and located in easy driving distance of ocean beaches, too. Club membership is required here ... please ask for details.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2006
MLS Number
DESU2048146
Location
Address
33111 SERENITY CIRCLE
City
MILLSBORO
State
DE
Zip Code
19966
County
SUSSEX
Listing
Provider
Ocean Atlantic Sotheby's International Realty, original listing
Name
Ocean Atlantic Sotheby's International Realty
Phone
(302) 542-6610
Office Name
Monument Sotheby's International Realty
Office Phone
(302) 227-6767
Agent Name
Sandi Bisgood

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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.