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109 Bayview
Grasonville, MD 21638
$469,900
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
2044
Property Description
**Kent Narrows** Located just over the Kent Narrows Bridge on Maryland's beautiful Eastern Shore this 3 Bedroom, 3.5 Bath Contemporary Townhouse with Garage awaits a very special buyer! This spacious property offers you location to all the area Kent Island attractions, an assigned community boat slip + a storage lot for the off season and convenient access to Rt 50 going east or west. The community marina is at the far end of this private enclave of townhomes and you would launch into Muddy Creek which feeds directly into the Chester River. From there you are literally 5-10 minutes by boat to Red Eye Dock Bar, Harris' Crab House and the new Dock House Restaurant. The community marina has water and electric although boat lifts are not permitted by the association. The monthly condo fee includes use of the marina with no additional marina fees and that alone makes it a bargain and highly convenient if you have been shopping the monthly rates at the local boatels. The community is on community well, public sewer (no future septic headaches!) and NOT in a flood zone. That's a big WOW and gives you security and confidence your investment is solid. This property is not direct water view which is why it's not priced 120K higher like the most recent comps BUT it does have smidgens of water views from various rooms and the marina, gazebo and park bench at the end of the pier are one short stroll away with your coffee cup. And, if you really want to get fancy, talk with me about possible owner held financing on this beauty. For the right candidate and 20-25% down payment the Owner would consider owner held financing -- no banks, no points, no junk fees. Another big consideration is that the property has had some very nice, quality renovations that include totally renovated Kitchen with light gray Shaker style cabinets, granite counters, ceramic tile backsplash and new stainless steel appliances in 2023, luxury vinyl plank flooring in the foyer, kitchen/dining/living room level in 2023 and in 2022 a renovated bath for Bathroom #3 with subway tile shower and glass shower doors. The rest of the bathrooms are admittingly circa 1980 but spacious, clean and functional and give you the opportunity to customize at your leisure and your budget. Spring is effectively here NOW and the inventory is nil for this type of product - so act now and you can get a jump start on enjoying the Eastern Shore!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1988
MLS Number
MDQA2009100
Location
Address
109 BAYVIEW
City
GRASONVILLE
State
MD
Zip Code
21638
County
QUEEN ANNE`S
Listing
Provider
RE/MAX Leading Edge, Inc., original listing
Name
RE/MAX Leading Edge, Inc.
Phone
(410) 224-3200
Office Name
RE/MAX Leading Edge
Office Phone
(410) 224-3200
Agent Name
Carol Tinnin

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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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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.