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235 E River Road
East Palatka, FL 32131
Deidre Vlassis with Realty Exchange, LLC., original listing - (386) 446-0017
$775,000
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
3465 Square Feet
Property Description
Discover the epitome of Old Florida charm with a touch of modern elegance in this stunning estate along the St. Johns River. Nestled on over 2 acres of pristine riverfront property, this rustic farmhouse blends timeless appeal with contemporary style, offering nearly 3,500 square feet of luxurious living space. Enter the main residence, a 3-bedroom, 2-bathroom haven, through a newly updated kitchen featuring butcher block countertops, a breakfast bar, and a cozy eat-in area. The warm wood floors, ceilings, and trim create a welcoming atmosphere, while the breathtaking views of the river framed by Spanish moss-draped oaks are simply unforgettable. The spacious owner's suite boasts a full ensuite bath, while two additional guest rooms and a second bath ensure comfort for all. A fully enclosed lanai extends the living space, offering a serene retreat to enjoy the picturesque surroundings. An additional over 700 square-foot apartment, complete with a private entrance, features its own owner's suite with an ensuite bath, a living room, dining area, kitchen, guest half-bath, laundry facilities, and an enclosed lanai. This versatile space is perfect for an income-generating rental or multigenerational living. The property also includes a garage, shed, and dedicated RV/boat parking, all within a secure 1-acre fenced area. Major upgrades have been thoughtfully completed, including a metal roof, crawlspace encapsulation with a dehumidifier, a new water treatment system, and updated plumbing and electrical systems. A full list of improvements is available upon request. This property is truly a rare find, offering endless possibilities and a lifestyle of unparalleled beauty and comfort. Information is deemed reliable, but is not guaranteed.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Single Family Residence
Year Built
1935
MLS Number
--
Location
Address
235 E River Road
City
East Palatka
State
FL
Zip Code
32131
County
PUTNAM
Listing
Provider
Realty Exchange, LLC., original listing
Name
Phone
(386) 479-8556
Office Name
Office Phone
(386) 446-0017
Agent Name
Deidre Vlassis
Agency Phone
(386) 446-0017

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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.