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10 Well Sweep Lane
Truro, MA 02666
$3,270,000
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2448
Property Description
A magnificent South Truro waterfront mid-century modern home set high above Cape Cod Bay is being offered for the first time since it was built in 1952. One of the most beautiful waterfront sites along the Truro bayside was carefully chosen by mid-century architect Ray Brock for what was to be his family's summer property. From there, he took great delight in siting, designing, and building the home that is there today. Set high and back on the dune, the siting takes full advantage of how the dune falls away, giving the property water views that are more broad and expansive than other Truro waterfront properties. The outstanding view includes a rare sweep of the beach spanning from Fisher Beach around to Long Point at the tip of Provincetown. Special note: this area of the Truro waterfront is gaining beach, not eroding, which has been documented and mapped by the state. The 1952 build date is on the earlier side for the modern house movement on the Outer Cape, and the house has design elements often seen in much later modern homes, such as a step-down living room, different split levels, and a dramatic sloping roof. The design is exciting, and the house is well maintained, retaining all its original features and giving a vintage camp-like experience. It harkens back to simpler times and a slower pace of life. The home is in move-in condition or is a good candidate for winterizing and renovating to your tastes; the choice is yours.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1952
MLS Number
22204033
Location
Address
10 Well Sweep Lane
City
Truro
State
MA
Zip Code
02666
County
BARNSTABLE
Listing
Provider
Kinlin Grover Real Estate, original listing
Name
Kinlin Grover Real Estate
Phone
(508) 362-8801
Office Name
Kinlin Grover Compass
Office Phone
(508) 349-9800
Agent Name
Ashley Fawkes

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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.