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3420 Studio Drive
Cayucos, CA 93430
Michelle Braunschweig with Richardson Sotheby's International Realty, original listing - (805) 781-6040
$3,299,500
Conventional
Property
Bedroom
3
Bathroom
¾: 2
Property Type
Conventional
Square ft
1572 Square Feet
Property Description
Nestled along one of the most sought-after coastlines, 3420 Studio Drive offers the rare charm of a classic beach town with coastal serenity and comfortable beach living. This property boasts sweeping ocean views, direct beach access; a surfer's dream location, just steps away from the waves. Gaze as seals and dolphins play in the waves, otters feast on clams, and whales make their seasonal migrations. Inside, you’ll find an open-concept layout with beautiful beamed ceilings, exposed brick fireplace, and knotty pine accents, creating a warm and inviting atmosphere. The upgraded galley-style kitchen adds a touch of coastal charm. The expansive deck, enclosed with glass railings, provides unobstructed views of the stunning coastline and nearby offshore rocks, offering a perfect space to entertain or unwind. Private stairs lead directly to the wide, sandy beach, ideal for enjoying the peaceful sounds of the ocean. During low tide explore the starfish and crabs on revealed tidepools or join your neighbors casting for fish from the sand. The main level includes a bright ocean-view living and dining area, a cozy kitchen, two bedrooms, and a 3/4 bath. The spacious primary suite on the upper level features a corner fireplace, expansive ocean vistas, and its own bath with dual sinks along with more breathtaking views of the water. This level could also be used as separate living quarters, with a perfectly laid out space for a small kitchenette. A two-car garage offers convenient space for parking and storage, adding convenience to the property. Just a short distance from the charming town of Cayucos, this home is ideally located near local restaurants, shops, and the popular farmers market, giving you the best of both beach and community life. The property is currently a licensed vacation rental, offering excellent possibilities for those seeking either a primary residence or a coastal retreat. Seller financing options available as well. Opportunity awaits!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1957
MLS Number
--
Location
Address
3420 Studio Drive
City
Cayucos
State
CA
Zip Code
93430
County
SAN LUIS OBISPO
Listing
Name
Phone
(805) 801-1734
Office Name
Office Phone
(805) 781-6040
Agent Name
Michelle Braunschweig
Agency Phone
(805) 781-6040

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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.