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2005 Lakewinds Dr
Reston, VA 20191
$969,900
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
WOW - this is the view you've been dreaming of! This 3-level brick and cedar townhome is located in sought-after Lakewinds Cluster, a waterfront community with an ideal location - just minutes from the Wiehle Metro stop, Tysons Corner and Dulles Airport, an easy walk to South Lakes High, Hughes Intermediate, Terraset Elementary and a Montessori School. A short, paved path along Lake Thoreau leads to South Lakes Village Center with groceries, restaurants, shops, Starbucks and CVS. An ideal, end-of-cul-de-sac location, offers lake views in all directions and a STEAM Team artistic sculpture view over the spillway. Inside the Bowsprit offers a two-level entrance foyer with a step-down living room and a formal dining room. You'll notice the custom built-in shelving and cabinetry in many rooms throughout the main level. The family room is complete with a wood-burning fireplace and large sliding glass doors offer fabulous water views. An adjoining kitchen offers a nice table space with sliding glass doors to the deck overlooking the lake. A spiral staircased leads to the lower patio. The upper level includes a large primary bedroom suite with sliding doors to a balcony, also overlooking the lake. Double closets, one a walk-in, and a renovated primary bathroom with double sinks and a glass-enclosed shower complete this area. The second and third bedrooms include large window spaces and well-sized closets, and the full bathroom in the hallway is also renovated. The lower level includes a 23'x23' rec room with two sliding doors to the rear patio. This space could easily become a 4th bedroom and a rec room, each with entry to the patio. A full bathroom adjoins the rec room with a tub/shower combo. A huge area for laundry, storage, workshop and cabinetry complete the lower level. Don't miss this exceptional opportunity to live on this very special lot! Furnace and heat pumps new in 2022.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1978
MLS Number
VAFX2167438
Location
Address
2005 LAKEWINDS DR
City
RESTON
State
VA
Zip Code
20191
County
FAIRFAX (NORTH)
Listing
Provider
Long & Foster Real Estate, original listing
Name
Long & Foster Real Estate
Phone
(888) 536-0216
Office Name
Reston
Office Phone
(888) 536-0216
Agent Name
Bonnie L Haukness

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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.