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841 2nd St
Cedar Key, FL 32625
Vanessa Edmunds with Cedar Key Realty, Inc., original listing - (352) 543-9899
$529,000
Conventional
Property
Bedroom
3
Bathroom
Full: 2
Property Type
Conventional
Square ft
1280 Square Feet
Property Description
What a spectacular view of the sparkling Gulf of Mexico from this elevated downtown island home! You will have incredible views from both stories of this beautiful home, with covered porches on two levels. On the highest level, the open floor plan allows views from the kitchen/dining area, through the living area, with lots of glass opening to the highest porch. Sit and sip your drinks, or even enjoy dinner as you gaze over the open Gulf and surrounding uninhabited islands! The master suite gets the view and private porch on the lower level--imagine waking up to a view like this! Three bedrooms will provide room for visiting friends, or use the third as an office, as the current owners do. The enclosed staircase also provides the space for a small ground-level workshop if you like. If you are not one for stairs, the property has a private passenger elevator, as well. This home shares a Western-facing Gulf front lot and boat dock with five other homes--you will own a dock for easy water access, or for just sitting by the water's edge. This deeded dock property is currently under repair review by the group of owners. Dock, Gulf access, safely elevated home, crazy beautiful view...this property offers everything! Impeccably maintained, this home is "the one" for the folks that want to be steps away from all the island has to offer. Just two blocks away, you will find bustling island life, with coffee shops, restaurants, bars, ice cream, hardware store, library, bakery, gift shops, City Park, and even our community garden! Everything is an easy stroll away from this spot. A half block in the other direction will put you in front row position for the spectacular sunsets Cedar Key is famous for. Crowds gather on the stretch of G Street to watch the sun dip below the Gulf horizon each night--but you can watch from your own home! Priceless! Call to make this one yours, while you can!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2009
MLS Number
--
Location
Address
841 2nd St
City
Cedar Key
State
FL
Zip Code
32625
County
LEVY
Listing
Name
Phone
(352) 210-1155
Office Name
Office Phone
(352) 543-9899
Agent Name
Vanessa Edmunds
Agency Phone
(352) 543-9899

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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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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.