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1040 Gulf Drive
Summerland Key, FL 33042
$2,199,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
2233
Property Description
Anglers Fortress in Summerland Cove Isles affectionately know as 'The Castle' is truly a gem nestled in a highly desirable neighborhood with excellent deep-water access to the Gulf Atlantic near some of the best fishing spots in the Florida Keys. This concrete constructed retreat offers not only roof top Ocean views, but also meticulous attention to detail, quality workmanship and an array of desirable amenities including RV parking with 50 AMP electric service, a heated pool and spa, and a concrete rooftop deck with water and electric service that provides 360-degree panoramic views of the surrounding landscape offering the perfect vantage point from which to watch the Sun rise and set over the glistening Ocean. Inside, the home boasts 4 bedrooms and 3 baths, including a permitted guest quarters with its own entrance and screened patio. The open concept kitchen and living area seamlessly flow into the expansive screened patio, creating an ideal space for entertaining while enjoying the picturesque outdoor views.Each bedroom has its own private entrance and the master suite, occupying the entire third level, is a true retreat with an open bonus room and private veranda.For boating enthusiasts, there's an 80 ft seawall with 17000 lb. boat lift, 10,000 lb. davits, an outdoor shower, and a convenient fish cleaning station. The 13 X 39 concrete block garage boasts 10 1/2 ft ceilings and wind rated doors providing secure storage for your equipment, supplies. The impressive outdoor space also includes covered patio, tropical landscaping, parking for multiple vehicles, and a built-in SWAT mosquito and no-see-um control system ensuring a comfortable and enjoyable environment year-round.'The Castle' offers a perfect blend of luxury, comfort, convenience, and outdoor living, making it an ideal retreat for those seeking the ultimate waterfront lifestyle in the Florida Keys.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2003
MLS Number
609224
Location
Address
1040 Gulf Drive
City
Summerland Key
State
FL
Zip Code
33042
County
MONROE
Listing
Provider
Berkshire Hathaway Keys Real Estate | Knight & Gar, original listing
Name
Berkshire Hathaway Keys Real Estate | Knight & Gar
Phone
(305) 294-5155
Office Name
Berkshire Hathaway Knight & Gardner
Office Phone
(305) 294-5155
Agent Name
Dina R Schoneck

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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.