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283 Chicagami Trail
Medford Lakes, NJ 08055
$1,450,000
Conventional
Property
Bedroom
5
Bathroom
4
Property Type
Conventional
Square ft
3398
Property Description
Lakefront Log Cabin! Live high on the log all year round in your dream vacation lakefront home. This home has the best Medford Lakes location, set at the very end of Chicagami Trail, bordering the YMCA camp, and overlooking Upper Aetna Lake. This spacious home has 4 bedrooms and 3 full baths in the main house, and the carriage house has a 5th bedroom and 4th bath. Follow the meandering walkway to the wooden front door, ring the bell, and enter into the Lodge Room. Every respectable Medford Lakes log home has a Lodge Room with vaulted ceiling, stone wood burning fireplace, hardwood floors, and log balcony from the upper level. This Lodge Room also has custom built in shelving, antler chandeliers, and open to the dining room. Formal dining room with recessed lighting, open to the family room and kitchen, and glass doors to the breezeway. The super sized family room has a beamed ceiling, hardwood flooring and a wall of windows. The kitchen and breakfast room have 3 walls of windows overlooking the lake, hardwood flooring, granite countertops, an abundance of cabinetry, pantry closet, and door to the fenced side yard. Don't forget to hang your hummingbird feeder in front of the lake view windows every spring! The upper level houses 3 bedrooms, 2 full baths, and the laundry. The primary bedroom suite has a vaulted ceiling, glass door to the private water view balcony, upper loft for the perfect reading nook, a large closet and a second walk in closet. The full bath has a soaking tub, walk in shower, and double vanity. The second bedroom has custom built ins and window seats with storage. This home also has a partial basement with walk out Bilco doors. The basement houses the homes utilities and also has plenty of storage. Follow the breezeway to the Carriage House, the perfect guest room/in-law suite. The main level has an amazing spacious room in the back overlooking the lake. This would be an amazing home office, play room, recreational room, game room, so many options. There is a full bath, laundry area, and shed/storage area. The upper level has a large bedroom with wall to wall carpeting, and loft area with water views. And we almost forgot to mention, this home has a Generac generator if the power ever goes out. As amazing as this home is, outside is where you will want to be. The slate patio provides plenty of space for various sitting areas, and there is an Endless Pool Swim Spa. A very unique feature it can be a hot tub and also an exercise swimming pool with the endless current. The side yard off of the kitchen is full fenced, perfect for the bbq grill, and pets. Follow the slate stairs down to the lake where there is a composite dock on the water where you can swim, fish, canoe, paddle board on the water. Or step over to your private sandy beach and take a nap or build a sand castle. Lakeside Living at its finest!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1936
MLS Number
NJBL2054662
Location
Address
283 CHICAGAMI TRAIL
City
MEDFORD LAKES
State
NJ
Zip Code
08055
County
BURLINGTON (SOUTHEAST)
Listing
Provider
Name
Compass
Phone
Office Name
Compass New Jersey, LLC - Moorestown
Office Phone
(856) 214-2639
Agent Name
Valerie Bertsch

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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.