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117 Youngs Ridge Road
Acton, ME 04001
$849,900
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
3178
Property Description
Built in 1831, this home was originally called Lilac Cottage. In 1956 the home was purchased, & re-named the LILAC HOMESTEAD. The present owners are only the third family to serve as stewards & proud owners of this unique property. Originally constructed as a Cape Cod house, w/ central chimney & three fireplaces. An addition was built on the west end of the house, several years later. Many of the floors are original wide ''Pumpkin Pine''. Enter the home through the main entrance. To the left enter into a pleasant living room w/ fireplace + 2 BR on the main level, and a full bath w/ shower. Off the living room, is a cozy room, w/ fireplace, which could be used as an office or study or sewing room. The formal dining room, w/ fireplace, leads to a work area, w/ sink, off the kitchen, perfect for use as a pantry or serving area. The custom kitchen, w/ cathedral ceiling is fully applianced, incl. 6-burner Viking Stove, w/ double ovens, Bosch dishwasher, refrigerator/freezer & farmhouse sink. The cabinets are custom cherry w/ unique pulls on drawers & cabinets. The Hemlock beams are original to the house, having been re-purposed from the 2nd floor. Just off the kitchen, is a bright sitting room, w/ plenty of built-in shelving - perfect for your private book collection. There is a staircase leading to a room above - perfect to use as an exercise area! Step out from the kitchen toward the oversized barn/garage featuring a 2-car wide/ 2-car deep garage, + open unfinished room above - perfect for crafts, workshop or just hanging out! This area also serves as a mud room/laundry room, complete w/ top-of-the-line washer & dryer, w/ drying cabinet above. There is a even a''doggie door'' leading pets out to a fenced-in yard. There is a whole-house generator. Upstairs in this unique home, the primary suite w/ custom bath w/ soaking tub + dressing + a large dressing room, w/ built-in drawers & closets. Close to Rte 16 for skiing & tax-free shopping! Deeded easement to Horn
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
1831
MLS Number
1586985
Location
Address
117 Youngs Ridge Road
City
Acton
State
ME
Zip Code
04001
County
YORK
Listing
Provider
EXIT Key Real Estate, original listing
Name
EXIT Key Real Estate
Phone
(207) 636-2222 xx2
Office Name
Exit Key Real Estate
Office Phone
(207) 636-2222
Agent Name
Elias Thomas III

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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.