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25 S Madison Ave
Margate, NJ 08402
$2,499,900
Conventional
Property
Bedroom
5
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
SOUTHSIDE NEW CONSTRUCTION SINGLE FAMILY IN THE MARINA DISTRICT, 7TH HOME FROM BEACH, POOL AND ELEVATOR, LOCATED ON THE SUNNY SIDE OF THE STREET!! Welcome to 25 S Madison Avenue in Margate, New Jersey, where coastal luxury living meets modern elegance in the heart of the marina district. This stunning new construction home rises majestically to four stories, offering breathtaking views of the surrounding area and steps from Margate’s beautiful beaches, popular restaurants, shopping, entertainment and all that the Marina district has to offer. The moment you step inside, you'll be captivated by the attention to detail and thoughtful design that flows throughout the entire home. Boasting five bedrooms and four bathrooms, there's plenty of space for family and guests. The convenience of a 4-stop elevator ensures easy access to each level, making daily living a breeze. One of the highlights of this exquisite home is the outdoor oasis that awaits you. A beautifully landscaped pool area, accented with pavers and exotic wood, beckons you to relax and unwind. The covered veranda provides a perfect spot to escape the sun while enjoying the refreshing coastal breeze while sitting with family and friends watching the game, BBQ’ing and chillaxing! An outdoor shower adds to the convenience and charm of this resort-like setting, ideal for beach days or cooling off after a dip in the pool. Multiple decks are strategically placed throughout the property, offering picturesque views from different vantage points, enhanced by its location on the sunny side of the street, ensuring that the home and its outdoor spaces bask in natural light. The second level opens up to an expansive open floor plan featuring 9-foot ceilings that create an airy and inviting atmosphere. The kitchen is a chef's dream, adorned with top-of-the-line Sub Zero and Wolf appliances, sleek quartz countertops, and a striking backsplash. A massive island serves as the centerpiece, providing ample space for meal preparation and casual dining. The adjacent living area boasts a linear gas fireplace, perfect for cozy evenings, and a designated space for a TV, ensuring entertainment is always at hand. Venturing to the third level, you'll discover the owner's suite, a private sanctuary that spans the entire front of the home. The suite is complete with a private deck, offering a tranquil retreat to enjoy the sunrise or sunset. The owner's bathroom boasts modern finishes, including a double bowl sink, stylish tilework, and a luxurious shower equipped with a rain head and body jets, providing a spa-like experience. Two additional bedrooms and bath round out the third level. The fourth level boasts two bedrooms and one bath to provide comfortable accommodations for family members or guests. The exterior of the home is a masterpiece of design, featuring a metal roof detail, wood accents, light-colored James Hardie cement siding, and Azek siding, creating a sophisticated yet coastal aesthetic. Modern material accents and an aluminum rail cable railing system add a contemporary touch to the overall look. Embrace the coastal lifestyle you've always dreamed of at 25 S Madison Avenue! Call today to schedule a tour! Ready for April/May 2024 delivery.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
--
MLS Number
581788
Location
Address
25 S Madison Ave
City
Margate
State
NJ
Zip Code
08402
County
ATLANTIC
Listing
Provider
Soleil Sotheby's International Realty, original listing
Name
Soleil Sotheby's International Realty
Phone
(609) 487-8000
Office Name
Soleil Sotheby's International Realty - A
Office Phone
(609) 487-8000
Agent Name
LAWRENCE STONE

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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.