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60 Arkansas Ave
Ocean City, NJ 08226
$5,995,000
Conventional
Property
Bedroom
6
Bathroom
6
Property Type
Conventional
Square ft
4458
Property Description
Discover the epitome of waterfront luxury in this Ocean City Riviera section oasis. This custom-built residence showcases 6 bedrooms, 6 full baths and an expansive 4,458 sq ft of living space, brimming with premium upgrades. Its distinguished exterior features durable fiber cement board siding, sleek metal roofing, and high-quality Andersen 400 Series windows and sliders. These open to an expansive deck that offers breathtaking views of the deep-water lagoon, complete with maintenance-free decking, an Intex railing system, and two inviting boat slips. The moment you approach, the home's magnificence is undeniable, from the stunning oversized front door to the elegant brick and bluestone steps. Inside, the first floor unfolds into a vast chef's kitchen, equipped with a full unite of GE Monogram appliances including a 48" stove, fridge, dishwasher, and a convenient wet bar area featuring a built-in Scotsman ice maker and additional refrigerator drawers—perfect for hosting. The kitchen also boasts an oversized island topped with quartz, adjacent to a dining area large enough for the whole family, complemented by a sizable walk-in pantry. This level also includes a bedroom with a full bathroom and a mudroom outfitted with a washer/dryer, offering a glimpse of the lagoon through massive sliding glass doors in the living room. Exquisite custom woodwork adorns the home, from built-ins in the living room to shiplap ceilings in the kitchen, living area, and master bedroom, adding a touch of elegance with wainscoting and six-piece window/door trim. The second floor hosts a grand primary suite with an attached home office overlooking the water, three en suites, and a second laundry room complete with cabinetry and countertop. The third floor introduces a lounge area, another en suite with an office/bunk room/craft room, and a private deck, alongside ample storage solutions including a large walk-in attic, a pull-down loft in the garage, and a full concrete crawl space. Ensuring peace of mind, the residence is also equipped with a backup generator, seamlessly integrated to provide uninterrupted comfort and security during any power outages. Outdoor living is redefined here, with a heated in-ground gunite pool, a stationary and a floating dock with two boat slips plus space for Waverunners, all enjoying southern exposure. The back deck, designed for entertaining, features a gas fireplace, outdoor television, countertop seating, drop-down shades, and a wireless entertainment system. Here, cocktails, family meals, and sunsets are not just enjoyed but celebrated. This home isn't just a dwelling; it's a lifestyle, promising endless days of luxury and relaxation by the water. Contact us to schedule your private showing today.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2017
MLS Number
582952
Location
Address
60 Arkansas Ave
City
Ocean City
State
NJ
Zip Code
08226
County
CAPE MAY
Listing
Provider
PRUDENTIAL FOX and ROACH-O144I, original listing
Name
PRUDENTIAL FOX and ROACH-O144I
Phone
(609) 399-0041
Office Name
BHHS FOX and ROACH-Simpson OC
Office Phone
(609) 399-0041
Agent Name
BRIAN LOGUE

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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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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.