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24750 Ne 177th Terrace
Fort Mccoy, FL 32134
$725,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
3072
Property Description
**Back on the Market-through no fault of seller-buyer didn't perform** Welcome to your piece of Paradise on the mouth of the Okalawaha River!!! This is a remarkable one of a kind waterfront property and is situated on 2.20 acres in the Ocala National Forest. The house has over 3,000 square footage. As you step inside the bottom floor is a suite that has everything you need it consist of a family room, kitchen, bedroom, bathroom and laundry room. The second floor features 3 bedrooms/2 bathrooms, kitchen, family room and dining room. Handicap accessible. It features a wraparound balcony that is completed screened in where you can relish in the captivating views of the water and forest. Boating enthusiasts will appreciate the home has navigable water access onto the St. Johns River and into Lake George. This property could also be a great vacation rental investment. With one group of people living upstairs and the other group living downstairs. There is a shared dock available and a place to launch your boat on the property. It is a great property for boating, jet skiing, fishing or camping. Close to historical springs, Rodeman Campground, Motorcycle & ATV's trails. Eligible for a Reimbursement Appraisal Credit at closing through preferred lender. Seize the opportunity to claim this waterfront paradise that has endless potential as your own immediately.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2008
MLS Number
1240162
Location
Address
24750 NE 177TH Terrace
City
Fort Mccoy
State
FL
Zip Code
32134
County
MARION (NORTH)
Listing
Provider
Florida Homes Realty and Mortgage, original listing
Name
Florida Homes Realty and Mortgage
Phone
(904) 363-8395
Office Name
FLORIDA HOMES REALTY & MTG LLC
Office Phone
(904) 996-9115
Agent Name
LISA SWEAT

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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.