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25 Stony Brook Way
Bar Harbor, ME 04609
$770,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
2370
Property Description
This Cape style home is located within a ''cul-de-sac'' neighborhood in central Bar Harbor and only minutes drive time to the many villages of Mount Desert Island, the beloved trails of Acadia National Park and the best sunset on the island at Hadley Point Beach. With 2,370 sq.ft. of living space in the home, the 1st floor offers a large living room, formal dining room, expansive kitchen with breakfast area, laundry room, full bathroom and a multi-use room off of the living room that could serve as an office or 4th bedroom. This bonus room closes off nicely from the living room with its double pocket doors. The 2nd floor provides two guest bedrooms, a guest bathroom and a spacious master suite. The master bath has twin vanities, a two person jetted tub, separate shower and a handy laundry chute. The full, unfinished, walk-out basement holds great potential for a new owner that needs a bit more living space. The attached 2 car garage is topped by a 2nd floor storage room, ideal to store your toys or perhaps another site for additional finished living space. The paved driveway and parking area wind off of Stony Brook Way (town maintained), tucking the home away from the road and ensuring a lovely sense of seclusion. The 1.94 acre grounds are completely encircled by mature forest with a relatively low level of care needed. There's lots of open space for those who wish to develop gardens, or ''just enough'' right now for those not so interested in horticulture. Extending off of the kitchen's ''eat-in'' area is a broad deck with built-in seating that is well screened by the surrounding woods. The neighborhood itself is a sweet spot for morning walks, with cul-de-sacs at the roads' end and only the other neighbors driving on the road. Spectrum internet service is available. Come take a drive to see the setting and inviting neighborhood and you'll want to see more.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
2003
MLS Number
1587089
Location
Address
25 Stony Brook Way
City
Bar Harbor
State
ME
Zip Code
04609
County
HANCOCK
Listing
Provider
Pemetic Purveyors, original listing
Name
Pemetic Purveyors
Phone
(207) 667-7355
Office Name
Pemetic Purveyors
Office Phone
(207) 667-7355
Agent Name
Peter Swanson

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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.