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483 Spindrift Trail
Corolla, NC 27927
$2,124,000
Conventional
Property
Bedroom
10
Bathroom
12
Property Type
Conventional
Square ft
6693
Property Description
Here is a magnificent opportunity to own an expansive property on almost a full acre on the Outer Banks. It is complete with an incredible Ocean View, which ultimately takes over the horizon overlooking the Atlantic Ocean. 483 Spindrift Trail is genuinely a custom-built home with an extreme eye for detail. Built with remarkable material selection and craftsmanship throughout the property, nothing is left to be desired. Expansive decking throughout the property adjoins all areas of the property together seamlessly. The Double Bay garage is a luxury in the Corolla market with plenty of utility for personal or investment use, whether creating a gaming area or a self-contained gym for vacationers looking to keep "putting in the work". The finished suite above is entirely separate from the main home for peace of mind during the busy summer months and creates a little getaway on the property itself. While you're getting away, remember the open pool entertainment area, which is only steps away. A large Cabana sits and invites you to socialize in the shade; it's created in the hot summer sun by the grill, tiki bar, or hot tub. When inside, this luxurious property awaits an open and spacious kitchen with stainless steel appliances, outfitted complete with a Sub-zero Refrigerator/Freezer and a 6-star burner Viking range. Custom cabinets, double sinks, and plenty of countertop space for multiple chefs to operate in. While two chefs are working their magic in the kitchen, the open living area with beautiful hardwood floors gives everyone plenty of room to engage in conversations about their day on the beach located only a short walk from the property. There is so much to explain in so few words that 483 Spindrift Trail is a property you must see in person to appreciate its grandeur and still feel surrounded by the comfort of home.
Property Information
Lot Size
39,560 sqft square ft
Property Type
Residential
Year Built
--
MLS Number
124587
Location
Address
483 Spindrift Trail
City
Corolla
State
NC
Zip Code
27927
County
CURRITUCK
Listing
Provider
RE/MAX Surfside, original listing
Name
RE/MAX Surfside
Phone
(252) 207-0305
Office Name
Surfside Realty
Office Phone
(252) 599-2300
Agent Name
Timothy Lancsek

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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.