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890 N Phelps Avenue
Winter Park, FL 32789
$1,495,000
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
3630
Property Description
Under contract-accepting backup offers. Custom renovated home located in the highly desirable city of Winter Park offering over 3,600 square feet of living space with an abundance of natural lighting. The formal living room sits at the front of the home and is accented with a wood burning fireplace and hardwood floors that seamlessly flow throughout the home. To the right of the entrance is the guest suite with a private en suite bathroom. Across the hall are two additional bedrooms, a full bathroom, and another half bath. A large chef’s kitchen boasts spacious quartz countertops, white subway tile backsplash, stainless steel appliances, 6 burner gas range, double oven, and a center island with a wine refrigerator, microwave, and plenty of storage. The kitchen overlooks the family room with views of the backyard through French doors and floor to ceiling windows. Adjacent to the family room is the primary bedroom quarters featuring high ceilings, private backyard access, an oversized walk-in closet, a spa-like bathroom complete with dual vanities, a standalone tub, and a double-sided walk-in shower with two shower heads. Step outside to the covered patio where you will find an outdoor kitchen, lounge area, fenced backyard, outdoor bathroom, privacy hedges, no rear neighbors, and a beautiful swimming pool, perfect for relaxation and entertainment. Zoned for top rated schools: Lakemont Elementary, Maitland Middle, and Winter Park High. Located just blocks from Phelps Park, three minutes from Advent Health Winter Park Hospital, five minutes from Baldwin Park, and only five minutes away from Downtown Park Avenue’s restaurants and boutiques. Make this extraordinary Winter Park gem yours!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2018
MLS Number
O6186281
Location
Address
890 N PHELPS AVENUE
City
WINTER PARK
State
FL
Zip Code
32789
County
ORANGE (CENTRAL NORTH)
Listing
Provider
Palmano Group Real Estate Brokerage, LLC, original listing
Name
Palmano Group Real Estate Brokerage, LLC
Phone
(407) 232-5801
Office Name
PALMANO GROUP RE BROKERAGE LLC
Office Phone
(321) 214-1211
Agent Name
Richard Palmano

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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.