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51 Forest Lane
Litchfield, ME 04350
Tessie Elwell with EXP Realty, original listing - (888) 439-8743
$495,000
Conventional
Property
Bedroom
2
Bathroom
Full: 1
Property Type
Conventional
Square ft
990 Square Feet
Property Description
At the end of a secluded road, tucked on 7.16 acres, this stunning log cabin sits in a private cove with 900 feet of shoreline on Jimmy Pond and 240 feet of beaver dam—a true retreat. The home is surrounded by nature, providing breathtaking water views from both sides. Step through double French doors into a bright, versatile daylight basement, ready to be transformed to suit your needs. Upstairs, cathedral ceilings in the living room create an open, inviting atmosphere, seamlessly flowing into the updated kitchen, where style meets function. Just beyond, a deck extends over the water's edge, providing the perfect spot for grilling with views of Beaver Dam. A cozy bedroom and full bath complete this level, while the loft above offers breathtaking, year-round vistas of the surrounding landscape. Thoughtful upgrades, including a new roof, freshly built decks, modern updates, and a generator switch, ensure comfort and peace of mind in every season. Outside, nature is your playground—swim, fish, kayak, or paddleboard right from your private shoreline. Some neighbors have even navigated a pontoon boat. End your nights by the crackling fire pit, soaking in the panoramic view of the cove, where the stars shine brighter than you've ever seen, casting their glow over the waters. In winter, hop on your snowmobile and ride straight from the property to the trail leading to Doolin's Pub. After a long ride, nothing beats a warm meal and great company. Evenings are best spent around the fire pit on the cove, where the stars shine brighter than ever. And when you're ready to explore, you're just minutes from The Meadows Golf Club, local orchards, hiking trails and local shops. The private road is long and neighbors maintain, but like all of Maine's best-kept secrets, the journey is well worth it. The site plan confirms the structure is 250+ feet from the High Water Mark, outside the Shoreland Zone, allowing unlimited expansion with no 30% rule restrictions.
Property Information
Lot Size
7 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1990
MLS Number
--
Location
Address
51 Forest Lane
City
Litchfield
State
ME
Zip Code
04350
County
KENNEBEC
Listing
Provider
EXP Realty, original listing
Name
Phone
(207) 592-5920
Office Name
Office Phone
(888) 439-8743
Agent Name
Tessie Elwell
Agency Phone
(888) 439-8743

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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.