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23 W Shore Drive
Pennington, NJ 08534
$1,490,000
Conventional
Property
Bedroom
5
Bathroom
6
Property Type
Conventional
Square ft
5916
Property Description
Renovated by the current owners, this must-be-seen-to-be-believed masterpiece of modernity features multiple stories, gleaming white and black surfaces, chrome accents, soaring ceilings, glass railings, and walls of windows spanning the back of the structure and filling the home with nature’s splendor from sunrise in the bedrooms to sunset in the family room. Starting at the lowest level, marvel at the full gym and infrared sauna and imagine continuing the workout outdoors, where heated in-ground pool awaits. The highlight of the main living area is its height and openness. A large, two-story family room with Nordic white wood floors and skylit sloped ceilings has at its center a massive fireplace open on two sides, and a sleek nine-blade industrial-styled ceiling fan. The gleaming white galley-style kitchen, open on one side to the family room and on the other to the dining room, features a full-suite of built-in Miele appliances, including paneled refrigerator and dishwasher, double wall ovens, induction stove-top and coffee maker. A deep stainless-steel sink with Rettin faucet and white quartz countertops complete the look. Nearby, a sunken living room lit by a quartet of handblown glass pendants hosts a baby grand. A full-bath and a powder room, laundry and ample storage finish the level. A main level office (or bedroom) with exterior door and close to bathroom. A half-level up, enter the master suite, where a walk-through closet accessed from both ends hugs a wall behind the sleeping area, and a slider leads out to a private deck. The bath features an extra-large glass shower with bench seating and rainfall shower head, bidet and toilet, and twin brushed chrome vessel sinks. On the uppermost level, a large open space with fireplace serves as a cozy family room or home office. Nearby, Jack-and-Jill bedrooms share a bath with tub/shower combo, and a fourth bedroom enjoys a private bath. Accentuating the home’s openness are glass railings along the staircases and landings. The main entrance of double frosted-glass doors opens into a gallery space with a peaked skylit ceiling. A long marble-floored hallway connects it to the main portion of the house. Other highlights are a separate spacious room with full bath above the attached garage, perfect for visiting family or studio, a whole house generator and 5 zone ac unit. Outside enjoy an oversized deck that hugs the back of the home, and an expertly landscaped yard dotted with rhododendrons, evergreen and deciduous trees, holly shrubs and flagstone walkways. All this in a community where walks and bike rides can be enjoyed within the community, Rosedale Park and Lawrence Hopewell Trails and area organic farms. Award winning Hopewell Schools, a few minutes to downtown Princeton and major highways and train stations for easy commute.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1985
MLS Number
NJME2037606
Location
Address
23 W SHORE DRIVE
City
PENNINGTON
State
NJ
Zip Code
08534
County
MERCER-TRENTON (NORTH)
Listing
Provider
Weidel Realtors, original listing
Name
Weidel Realtors
Phone
(800) 288-7653 xx239
Office Name
Corcoran Sawyer Smith
Office Phone
(609) 737-1522
Agent Name
Susan Thompson

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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.