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12003 Double Tree Lane
Lusby, MD 20657
$750,000
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
4800
Property Description
Taxi straight from the largest airplane hangar that is located on the Chesapeake Ranch Estate MD 50 Airport to the 2500 ft paved and lit runway and beyond at this incredible property with 4800 square foot private home attached to a 75X60 airplane hangar. The 4500 square foot hangar features a 50ft hangar door, 2 car sized garage doors, soaring ceilings, space to store up to three airplanes, separate office and living space, kitchenette, full bath, washer dryer hookups, storage, solar panels, reinforced concrete foundation. Inside the main home you will find a spacious and welcoming foyer, living room, dining room open to kitchen with breakfast bar, sun room with fireplace, owners suite with private bath, hall bath, three additional bedrooms, laundry room, half bath and interior access to the hanger. Lower level features recreation room, media room with built in bar, two additional rooms that were used as bedrooms, full bathroom, utility room and large workshop, and space for storage and future rooms. Outside, enjoy your spacious and level yard on over 3/4 of an acre with fully fenced side yard, shed, rear patio and panoramic views of the runway. Located in a beach privileged community with two Chesapeake Bay front sandy beaches, a private lake beach, plus common areas, tot lots, ball fields, and more. Close to Solomons Island, restaurants, shopping and easy commute to NAVAIR Patuxent River. Perfect for pilots, mechanics, home based business, storage of boats, campers, cars, endless possibilities.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1990
MLS Number
MDCA2014498
Location
Address
12003 DOUBLE TREE LANE
City
LUSBY
State
MD
Zip Code
20657
County
CALVERT
Listing
Provider
Home Towne Real Estate, original listing
Name
Home Towne Real Estate
Phone
(410) 286-9632
Office Name
Home Towne Real Estate
Office Phone
(410) 286-9632
Agent Name
Becky King

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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.