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1165 Vt Route 100
Newport Town, VT 05857
$875,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3432
Property Description
Meticulously maintained, bright, and oh so spacious! With this wonderful property you’ll have more than enough space, both indoors and out. The home is set on 33 private acres, which includes a large lawn, beautiful landscaping, a small sugar bush, and a pond. Plus, stunning views of Bear Mountain to the north and Jay Peak to the west are easily seen from the wrap-around covered porch. Built in 2003, the 3,400-square-foot home is still like new inside. Hosting large gatherings will be a breeze with the 33’6”x16’5” combined kitchen and dining area, where warm wood cabinets are topped by black granite counters. A wide doorway allows a smooth flow into the adjacent living room or through the foyer to the den. Down the hall, there’s an office, a ¾ bath, and 2 generously sized bedrooms with a full Jack and Jill bath, complete with two vanities and a soaking tub. A true retreat, the 24’x20’ primary suite is on the second floor, with a soaking tub and separate shower. Found in the courtyard, and accessible through multiple rooms, is an 18’x24’ in-ground pool. Connected to the pool area, the screened room is the perfect spot for cookouts and summer celebrations. There’s an attached 2-bay garage, plus an oversized detached 2-bay garage/workshop that easily accommodates an RV, boat, and more. From here, it’s a 10-minute drive to downtown Newport, and just 14 miles to Jay Peak Resort. Get a closer look with the virtual tour and imagine yourself living in this stunning home.
Property Information
Lot Size
33 acre(s) square ft
Property Type
Residential
Year Built
2003
MLS Number
4994747
Location
Address
1165 VT Route 100
City
Newport Town
State
VT
Zip Code
05857
County
ORLEANS
Listing
Provider
Century 21 Farm & Forest Realty Inc, original listing
Name
Century 21 Farm & Forest Realty Inc
Phone
(802) 334-1200
Office Name
Century 21 Farm & Forest
Office Phone
(802) 334-1200
Agent Name
Nicholas Maclure

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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.