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2770 Regal Avenue
North Pole, AK 99705
$689,900
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
4372
Property Description
Regal is a perfect word to describe this spacious 4 bedroom, 3 bath, 3-car garage home situated on a 2.3-acre corner lot in a serene neighborhood directly on the Chena Slough. As you drive up to the property, you are immediately greeted with the grandeur of the home tucked within a wooded lot featuring a pull through driveway with space to park an RV and all your Alaska toys. The exterior boasts beautiful accents like tongue and groove soffits, vinyl siding, and an expansive back deck overlooking the slough with access to a second story deck providing plenty of space to enjoy the peaceful outdoors. As you enter the home, you are greeted with an open concept living, kitchen, dining room highlighted with luxury vinyl plank flooring, log accents, and a grand staircase and balcony. The large kitchen features granite countertops, stainless steel appliance, ample cabinetry, and an island complete with seating. On the main level, you will also find a full bath, master suite, spare bedroom, and access to the 3-car garage. The master suite features a spacious walk-in closet and bathroom with a jetted tub, large vanity, and shower. The garage features an impressive 1,064 square feet; big enough to park 3 vehicles with room to spare for a workspace. Upstairs, a wide walkway overlooking the living room leads you to two additional spare bedrooms complete with dormer windows, a home office, full bath, laundry, and an incredible bonus room with access to the second level deck overlooking the slough. Also featured in the bonus room is a wet bar and laundry room with additional storage. With over 4,300 square feet of comfortable, modern living space, this home provides the convenience of being close to shopping in North Pole, quick access to the Richardson Hwy, while also having acreage in a peaceful, secluded neighborhood.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
2000
MLS Number
155123
Location
Address
2770 REGAL AVENUE
City
North Pole
State
AK
Zip Code
99705
County
FAIRBANKS NORTH STAR
Listing
Provider
Summit Realty Group, original listing
Name
Summit Realty Group
Phone
(907) 374-3208
Office Name
SUMMIT REALTY GROUP
Office Phone
(907) 374-3208
Agent Name
Zeb Mabie

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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.