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10 Cove Lane
Medford, NJ 08055
$735,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
2837
Property Description
Finally, this is the home you've been waiting for! This Bob Meyer beauty boasts 4 Bedrooms & 3 and one-half baths and is located in the center of Medford in sought after Waterberry Cove. Situated on a 1.122 acre lot serviced by public water & public sewer & boasting just under 3,000 square feet of living space, this stunner features so many wonderful upgrades and amenities with all of the big ticket items having been updated and/or replaced! Heated by natural gas and cooled by central air, there are two zones (two units of each) - Zone 1-furnace and AC replaced June of 2023, Zone 2 - Heater replaced 11/2021 and AC Replaced 6/2014. The roof was replaced in 2011 with 50 year shingles. As a homeowner in Waterberry Cove, you have access to the lake - a HUGE bonus especially for those who love to fish and skate in the winter! As you approach 10 Cove Lane, take a moment to note the exceptional curb appeal with the lush lawn and lovely speimen plantings, crisp cream wood siding, the extra large Andersen windows, the lovely covered front porch, paved drive and side entry two car garage. A lovely walkway leads to the front porch and double entry door flanked by side windows. Step into the large foyer with gleaming hardwood floors that carry into the powder room, rear foyer, kitchen and breakfast room. To the right is a large living room featuring nearly floor to ceiling windows - natural light streams into this home! The flooring in the living room & adjacent dining room featuring plush light carpeting. The kitchen is at the heart of the home and features abundant maple cabinets, granite countertops, stone backsplash and a full appliance package including GE Profile Induction cooktop, double wall ovens (one is a convection), microwave, dishwasher and refrigerator. A lovely screened porch is off the kitchen- such a wonderful spot to curl up and relax with a good book & to take in the scenic rear grounds! Step down from the kitchen to the exciting two story family room where the focal point is the floor to ceiling brick gas fireplace, there are two skylights, the flooring is berber carpet and patio doors (with transoms above) lead to the lovely rear deck (recently replaced). Back to the front foyer, there is a powder room to the left and a hallway with hardwood floors leads to the tucked away large laundry room with tile floor and cabinets above - sink, washer & dryer included. A passage door in the rear hallway opens to the two car garage complete with remote control openers. Controls for the irrigation system are located in the garage. Ascend to the 2nd floor level where the primary bedroom and three other spacious bedrooms are located. The primary bedroom boasts a tray ceiling with ceiling fan, two walk in closets and brand new plush carpeting. The primary bath is spacious and features a Jacuzzi whirlpool tub, walk in shower, two sinks & linen closet. There are 3 additional bedrooms, all spacious - BR #2 has pulldown stairs to an upper attic (Zone 2 HVAC is here.)There is a very large full bath in the hallway for the 3 bedrooms complete with two sinks, tile flooring with a separate door to the shower and commode. Descend to the lower level which could be the perfect spot for a guest or in-law suite! Here there is a full bath, exercise room, office and family room. There is also plenty of unfinished space providing great storage! This home has been beautifully maintained and upgraded - other bonuses include: passive radon mitigation system (just tested with results of approx. 2 picocuries) - well below any need for mitigation), inground irrigation system, security system, 50 year roof shingle, 2 zone HVAC - all newer, new 200 AMP electric panel, basement professionally waterproofed, sink in basement, public water, public sewer and the list goes on! The location is PRIME and Waterberry Cove is a highly sought after neighborhood. So start packing your bags and be sure to pack your fishing poles and ice skates!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1991
MLS Number
NJBL2062148
Location
Address
10 COVE LANE
City
MEDFORD
State
NJ
Zip Code
08055
County
BURLINGTON (SOUTHEAST)
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach Medford
Office Phone
(609) 654-1888
Agent Name
Carol Latti

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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.