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33 Spar Cove Road
Freeport, ME 04032
$1,480,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
2992
Property Description
Direct access to Spar Cove, large windows throughout with water views. Short walk along a wooded path leads to a Coastal Commission-approved dock on Spar Cove, lying just southwest of South Freeport Town Wharf. The cove is a bird lover's paradise including kingfishers, pileated woodpeckers, egrets, buffleheads. Fenced bricked patio, terrific for dining al fresco in the warmer months. Flowers on patio and around house bloom from late April through October. Blueberry bushes too. Large room off patio features walk in closet and cove view. Main floor has open layout, lots of light. There are 11 skylights with electronically operated shades. Kitchen features include granite countertop, stainless steel appliances, and large walk in pantry with utility sink. Laundry area off kitchen. Main floor also has a full bathroom and a room with wall-to-wall windows facing cove and a second wall of custom shelving. Large mezzanine features huge room with nearly floor-to-ceiling window overlooking cove. Large bedroom on second floor features windows on three sides. One triple window fills room with view of cove. Two large closets (one is walk-in), skylight. Across the hall is a second bedroom with lots of closet and shelf space. Both bedrooms and custom bath face front of house with skylights. Large walk in shower and double sink in custom tiled bathroom. Two car garage has two suite of rooms and full bath on second floor. Enormous basement with two carpeted rooms and a full wall of shelving, plenty of storage and a work area. Half the basement runs the full extent of the main house and is finished. Additional features: wood floors throughout, mud room/breezeway, automatic generator, alarm/fire monitoring system, standing air conditioners for each floor, and a water purification system. This location is just 5.5 miles from LL Bean, 1.5 miles to Winslow Park and close to highway access. Call to schedule a private showing.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1984
MLS Number
1585157
Location
Address
33 Spar Cove Road
City
Freeport
State
ME
Zip Code
04032
County
CUMBERLAND
Listing
Provider
Keller Williams Realty, original listing
Name
Keller Williams Realty
Phone
(207) 879-9800
Office Name
Keller Williams Realty
Office Phone
(207) 879-9800
Agent Name
Cynthia Dubois-Cote

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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.