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1313 Riverside Drive
Palmetto, FL 34221
$2,400,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2416
Property Description
Outstanding opportunity to own this fabulous waterfront property, located directly on the Manatee River, in a blissful tropical Florida setting not easily found today. Offering sweeping water views, private deep-water dockage and impeccable craftsmanship throughout, this esteemed property, aptly named “Rio A Mar” or “River to Sea”, offers the perfect back-drop for the coastal lifestyle of your dreams. Completed in 2019, the custom-built residence embodies the unmistakable charm and elegance of famed Dutch West Indies architecture, both on the exterior and interior, telling the same story of relaxed sophistication through quietly luxurious appointments and remarkable design specifications. These features include a private Elevator, deluxe “Smart Home” capabilities, full-house natural gas generator, outdoor Summer Kitchen and a third level observation deck to name just a few. The captivating open interior living spaces exude both warmth and elegance with plenty of room to gather, dine and relax, all with stunning water views, a gorgeous gas fireplace and sliders opening to a huge expanse of covered terraces seamlessly melding the indoor and outdoor spaces for year-round enjoyment. Inset cabinetry, custom built-in’s, seamless French oak wide-plank engineered wood flooring and 10-foot tray ceilings define the home’s harmonious layout and bright airy interior. Entertain with ease in the central Chef’s Kitchen with its premium butcher block island, hidden Butler’s Pantry with coffee bar and wine cooler, double convection ovens, gas range and concealed appliance cabinetry. The adjoining Dining Room was designed to generously accommodate the largest of tables where every meal becomes a celebration of life’s best moments with friends and family. The incredible Primary Suite showcases gorgeous water views and boasts a fabulous Master Bath that pampers with a huge digitally controlled Smart Shower, free-standing soaking Tub and dual vanities. The adjacent closeted wardrobe and dressing area provides the epitome of classic luxury. Approaching the home’s entrance, a sunny courtyard welcomes to a lower entry lobby with Elevator access and a large air-conditioned Flex Space, or workshop, and two separate garages that form a motor court within the circular drive. The courtyard’s stone staircase leads up to a second-level porch entry with custom wood front door and charming wood patio doors to throw open and enjoy a delightful cross breeze. Offering the best in Florida waterfront living, this hidden gem is tucked away on a quiet street in Palmetto’s charming historic River District just minutes from downtown Bradenton and a short drive to St. Petersburg, Sarasota, Tampa and the area’s famed Gulf Beaches and prominent attractions.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2019
MLS Number
A4607323
Location
Address
1313 RIVERSIDE DRIVE
City
PALMETTO
State
FL
Zip Code
34221
County
MANATEE (NORTH)
Listing
Provider
RE/MAX Alliance Group, original listing
Name
RE/MAX Alliance Group
Phone
(941) 954-5454
Office Name
RE/MAX ALLIANCE GROUP
Office Phone
(941) 758-7777
Agent Name
Jordan Chancey, PA

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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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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.