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119 W Centennial Dr
Medford, NJ 08055
$1,250,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
--
Property Description
Absolutely Stunning 4 Bedroom and 3 Full Bath Contemporary style home in the Beautiful Centennial Lake development of Medford Township. This home has been completely renovated and shows at every turn. The interior of the home offers all new flooring and carpeting throughout the first and second floors, an open floor plan, a foyer that leads you to either the kitchen or the 2 bedrooms on the first floor and is open to the huge family room that offers panoramic views of the lake and a large brick wood burning fireplace, the family room is open to the dining room that is open to the large custom kitchen that boasts beautiful granite countertops, stainless steel appliances, a stone backsplash over the 36"" gas range, a huge center island with an additional sink, and a large breakfast room that overlooks the lake, on the opposite side of the home are 2 large bedrooms with a newly updated Jack and Jill type full bathroom, there is a large basement that is unfinished for storage, newer heating and air conditioning systems throughout, upstairs offers 2 very large bedrooms that either could be used as the master bedroom, there is a newly updated hall bath that offers a double sink vanity with granite countertops and a walk-in tiled shower, the front bedroom overlooks the lake and has an attached office or workout room, the other bedroom has soaring cathedral ceilings, a large walk-in closet, a newly updated full bath, and a sliding glass door to a private balcony that overlooks the lake. The exterior of this home starts with a long winding stone driveway that leads to a 2-car garage, a long covered front porch, the exterior of the home has recently been freshly painted, a newer timberline 30 year roof, and a stone walkway that leads down to the large dock/deck that overlooks the lake. Don't miss your opportunity to see this wonderful home!
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1959
MLS Number
NJBL2062468
Location
Address
119 W CENTENNIAL DR
City
MEDFORD
State
NJ
Zip Code
08055
County
BURLINGTON (SOUTHEAST)
Listing
Provider
Long & Foster Real Estate, original listing
Name
Long & Foster Real Estate
Phone
(888) 536-0216
Office Name
Medford
Office Phone
(888) 536-0216
Agent Name
Jason M Gareau

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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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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.