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414 Ocean Avenue
Wells, ME 04090
$1,999,000
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
2616
Property Description
Welcome to 414 Ocean Ave. in beautiful Moody Beach Maine! Built by Moody & Sons Construction, this stunning three-level home offers the perfect combination of luxury, comfort, and prime Moody Beach location. Situated just across the street from the beautiful Atlantic Ocean and Public Way 2, this modern and exquisitely maintained home boasts a reverse floor plan that maximizes the amazing views. The entry level features a spacious primary bedroom with an attached en suite,2 guest rooms, and an additional shared full bathroom. The second level is where the heart of the home is, with a large galley kitchen featuring modern updated appliances and gleaming granite countertops. The kitchen is open to the dining and living areas, creating a seamless flow that is perfect for entertaining. Rounding out the 2nd level is a 1/2 bath and a lovely den separate from the large living room with gas fireplace. Upstairs on the third level, you'll find a cozy den with a wet bar and 1/2 bath, as well as another primary suite with its own ensuite bath. Each level of the home has its own balcony, offering unobstructed views of the Atlantic Ocean and offer a wonderful place to enjoy morning coffee or evening cocktails! If the view of the Ocean becomes tiring (ha!), there is a lovely built-in fire pit and stone patio in the backyard perfect for dining al fresco or a cool summer night or fall evening! Updated systems and the installation of mini-splits to augment the forced hot water baseboard heat allow for flexibility in heating plus the addition of a/c on all three levels of the home round out this magnificent offering. The beach is just steps away via Public Way #2 and with the Ogunquit town line nearby, you'll have easy access to shopping, dining, and all the amenities the seacoast has to offer. Don't miss your chance to own this exceptional beach home steps to Moody Beach and make your dream of living at the beach a reality!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2006
MLS Number
1585523
Location
Address
414 Ocean Avenue
City
Wells
State
ME
Zip Code
04090
County
YORK
Listing
Provider
RE/MAX Realty One, original listing
Name
RE/MAX Realty One
Phone
(207) 363-2497
Office Name
RE/MAX Realty One
Office Phone
(207) 363-2497
Agent Name
Robert Coles Jr.

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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.