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27640 Villa Road
Easton, MD 21601
$8,900,000
Conventional
Property
Bedroom
3
Bathroom
5
Property Type
Conventional
Square ft
9335
Property Description
Stunning Waterfront Estate on the Miles River. This property has been immaculately maintained. The original home was built in 1927 but was completely renovated in 1999 and has since gone through many updates. The 3-bedroom, 3 full bath, 2 half bath, main house has beautiful hardwood floors throughout, crown moldings, exposed beams, and wood-burning fireplaces. The most discerning chef will find everything they need in the gourmet kitchen including a huge island that seats 7, a Wolf 4-burner gas cooktop with French burner, a Wolf double wall oven, a Miele French door refrigerator/freezer, two dishwashers, 2 farm sinks, and a prep sink. Enjoy meals in your casual dining area with wood-burning fireplace or formal dining room, both with easy access to wet bars, great for entertaining. A sunk-in seating area with brick floors provides French door access to a patio with a spa. The formal living room includes a wood-burning fireplace with sliders to a covered brick patio. The main house is equipped with geothermal HVAC and a whole-house reverse osmosis system, an unfinished basement, and a new roof was installed in 2023. Upstairs you will find a loft that provides the perfect spot for an office nook, a laundry room, 3 ensuite bedrooms, and a den. The primary suite includes a wood-burning fireplace, sitting area with built-ins, and sliders to a private balcony. The primary bath includes 2 walk-in closets, one with a vanity, 2 showers, 2 water closets, a double sink, and a soaking jet tub. The second guest bedroom is large enough to be another primary suite and includes built-ins, a wood-burning fireplace, a walk-in closet, a slider to a roof-top deck, and a private bath. The third guest bedroom is off a large den and has built-ins, a walk-in closet, private bathroom, and a ladder to a loft area. This second level can be accessed from two separate staircases. Another set of stairs leads to a third-level observation tower. Outside you will find extensive landscaping and hardscaping including beautiful slate walkways and mature trees with uplighting. The property boasts a dock equipped with a boat lift, as well as access to water and electricity, and a riprapped shoreline. A small cottage on the edge of the point provides stunning views, a living room with a gas fireplace, a mini kitchen, and a full bath. The one-car detached garage has a large bonus room above and tons of storage. There is also a 2-bay detached machine garage with storage on the property. The barn, which was converted to a caretaker’s cottage in 2007, has an inverted layout that has 2 ensuite bedrooms on the main level, and a living room with a slider to a balcony, kitchen, and powder room on the second level. The guest house, brand new in 2022, features a large living room, dining area, kitchen, office, laundry room, and 2 ensuite bedrooms. An in-ground pool and a gazebo with a wood-burning fireplace provide the perfect spots to entertain guests. This property has it all! Easton, Maryland, known as the New Hamptons of the Chesapeake Bay by Forbes Magazine, is conveniently located 1.5 hours from D.C. and Baltimore, and 2 hours from Philadelphia. Just minutes from fine dining, shopping, healthcare, theatres, galleries, museums, golf courses, a country club, a yacht club, and a jet airport.
Property Information
Lot Size
17 acre(s) square ft
Property Type
Residential
Year Built
1927
MLS Number
MDTA2005074
Location
Address
27640 VILLA ROAD
City
EASTON
State
MD
Zip Code
21601
County
TALBOT
Listing
Provider
Eastern Shore Fine Properties, INC, original listing
Name
Eastern Shore Fine Properties, INC
Phone
(410) 822-2001
Office Name
Meredith Fine Properties
Office Phone
(410) 822-6272
Agent Name
Cliff Meredith

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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.