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196 Cedar Point Drive
Wallace, NC 28466
$744,900
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3660
Property Description
Welcome to 196 Cedar Point Drive, situated in the prestigious and world-class amenities and golf course community of RIVER LANDING in Wallace, NC. Upon entering River Landing, you'll be captivated by the meticulous design and picturesque tree-lined streets that wind through beautifully manicured landscapes. This elegant brick home boasts energy efficiency and high-quality craftsmanship. It features numerous desirable details, including a whole-house generator, water and air circulation treatment systems, and more. Step into the open foyer, adorned with stunning white oak hardwood floors, and you'll find an office or den accessed through pocket French doors. The staircase leads to the second and third bedrooms, with the third bedroom offering ample space that can be utilized as a bonus room, offering delightful views of the pond and golf course. Abundant storage options are available, with spacious walk-in closets and attic space. Continuing through the home, the beautiful oak hardwood floors flow seamlessly into the great room, kitchen, and dining area. The first-floor master bedroom is spacious, with a bay window, a gas fireplace, a shiplap surround, and a walk-in closet. The primary bathroom boasts tile flooring, double vanities, granite countertops, an air-jetted tub, and a shower with a custom glass enclosure. The generously appointed kitchen showcases solid wood cabinets, granite countertops, a Butler's pantry, and an additional beverage refrigerator. Nearly new GE Profile appliances, including double ovens and a natural gas down-draft cooktop, will cater your culinary needs. The great room offers a double trey ceiling, a wall of full-length PELLA windows with built-in blinds, & sliding doors to access the covered back porch, creating a seamless indoor-outdoor living experience. Venturing towards the garage, private stairs lead to a bonus room/4th bedroom with a full bath and wet bar. The spacious two car garage offers a storage closet and workshop area.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2006
MLS Number
100436338
Location
Address
196 Cedar Point Drive
City
Wallace
State
NC
Zip Code
28466
County
DUPLIN
Listing
Provider
Red Realty Investors, LLC, original listing
Name
Red Realty Investors, LLC
Phone
(704) 309-7676
Office Name
Keller Williams Innovate-Wilmington
Office Phone
(910) 777-2200
Agent Name
Nancy Laslo

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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.