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180 Galleon Road
Plantation Key, FL 33036
$19,000,000
Conventional
Property
Bedroom
6
Bathroom
9
Property Type
Conventional
Square ft
7160
Property Description
BRAND-NEW CUSTOM-BUILT OCEANFRONT RESORT-STYLE HOME! This exquisite home features panoramic ocean views with a cut-in boat slip, a 25,000 lb. boat lift, plus 380 ft. of travertine marble dock with electric and water. There is a custom beach entry pool and spa with an outdoor ocean-view bar that has all the amenities. Over 7,100 square feet of living space with an open floor plan and soaring ceilings on all 3 levels. 3-story elevator, 6 ensuite bedrooms, 7 full bathrooms, 2 powder rooms, and 10 ft. impact windows overlooking the beautiful Atlantic Ocean and Alligator Lighthouse. The home features a custom state-of-the-art gourmet kitchen with Monogram Statement Collection appliances, Quartzite countertops and a built in Jennaire gourmet coffee maker, a 600-bottle wine loft, and an ocean view billiard room/bar with everything you will need to entertain. Attributes of this amazing home include travertine and cedar ceiling balconies, impact windows throughout, crown and base molding, ocean view master suite, 2nd master suite with breakfast bar and fridge, ocean-view gym, 8-zone Sonos music system, WIFI, security cameras with sound, air-conditioned rod room and storage, 4 car garage, tiki hut, custom paddle board rack, fire pit, tiki torches, irrigation system, 2,500 gallon water storage, brick paver driveway, gated entrance with a camera and intercom, all located on a private and quiet street in Islamorada, the sport fishing capital of the world. Once you arrive you won't want to leave this stunning tropical oasis! Seller Financing possible.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2023
MLS Number
607298
Location
Address
180 Galleon Road
City
Plantation Key
State
FL
Zip Code
33036
County
MONROE
Listing
Provider
Coldwell Banker Schmitt Islamorada, original listing
Name
Coldwell Banker Schmitt Islamorada
Phone
(305) 664-4470
Office Name
Coldwell Banker Schmitt Islamorada
Office Phone
(305) 664-4470
Agent Name
CHARLOTTE PORTER

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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.