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5025 Sweetbay Court
Lake Charles, LA 70605
STEVEN FLOYD with COLDWELL BANKER INGLE SAFARI, original listing - (337) 478-1601
$2,550,000
Conventional
Property
Bedroom
4
Bathroom
Full: 4, ½: 2
Property Type
Conventional
Square ft
6409 Square Feet
Property Description
This regal French Colonial masterpiece of luxury living features a welcoming circular drive and Porte Cochere ushering you into this smart home. Expect to see an impressive open floor plan with ample living area that can comfortably accommodate a party of 50. A proud chef's kitchen, commercial Thermador appliances, quartz countertops, 2 oversized islands, ice maker, pot filler… Coffered ceilings add a touch of elegance. A butler pantry and a walk-in pantry provide convenience along with ample storage. Gazing out of the rear bay of living room and primary suite windows you will see spectacular estuary and ship channel views, especially at sunset. A glistening heated gunite pool and spa, a gathering porch, a culinary heaven, including: a commercial gas-fired cook table for grilling, frying, and BBQ’ing; a gas fireplace, large outdoor living area with surround sound. Back inside, the primary suite offers a chandelier over the free standing tub, a dual walk-in tile shower with jets, and his and her walk-in closets. Additionally, the home has 3 bedrooms, 3 full baths, 2 half baths, 11’ ceilings down and 10’ up, transom lights, and custom French doors. An office/Library which beckons you to study. After study, head up to either the theater room (fitted with cushy theater recliners, a kitchenette, and bathroom) or the upstairs game room/living. The game room/living room includes an elevated under roof porch with the same breath taking views as described earlier. The huge autocourt / basketball court is also access to the 4 garage spaces. BONUS: Whole house generator.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2021
MLS Number
--
Location
Address
5025 Sweetbay Court
City
Lake Charles
State
LA
Zip Code
70605
County
CALCASIEU
Listing
Name
Phone
(337) 274-5684
Office Name
Office Phone
(337) 478-1601
Agent Name
STEVEN FLOYD
Agency Phone
(337) 478-1601

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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.