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114 Petersburg
Woodbine, NJ 08270
Paul Rixon with RIXON REALTY, original listing - (609) 390-8821
$799,900
Conventional
Property
Bedroom
2
Bathroom
Full: 2
Property Type
Conventional
Square ft
1875 Square Feet
Property Description
"Fawn Crest Farms" a beautiful 6.5 acre gentleman's equestrian farm close to everything. The ranch home is 1875 sq. ft. of living space over an 1875 sq. ft. partially finished basement with an attached oversized heated 2 car garage. Main floor consists of a newer gourmet kitchen with stainless steel appliances, granite counter tops and large breakfast nook. Renovated main bath with tiled shower and newer fixtures. Laundry room with Granite counter top, newer cabinetry and front load washer and dryer .Living room with large casement windows and beautiful hardwood floors. Tiled office with a door to the rear deck and pool area. Master bedroom with hardwood floors and His and her closets. Master bedroom which opens to master and hall. Nice size additional bedroom. Basement is partially finished with a bedroom and a general use room. Also a workshop/mechanical room with a bilco door to the exterior. Other amenities include a tankless water heater, central vac system in the garage and home and an Alarm system. Rear of the property has a 5 stall barn with hayloft and drop down hay opening plus a heated tack room with sink and toilet. All stalls have mats installed. Wash bay with boom for easy washing. Barn includes a manure shaker and Rubbermaid 55 gal horse water tubs. 2 Fenced pastures with a shared hayrack, frost free water to each pasture. Behind the Barn is a lighted arena and 5 horse walker machine with LED lighting.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Single Family Residence
Year Built
1988
MLS Number
--
Location
Address
114 Petersburg
City
Woodbine
State
NJ
Zip Code
08270
County
CAPE MAY
Listing
Provider
RIXON REALTY, original listing
Name
Phone
(609) 827-7555
Office Name
Office Phone
(609) 390-8821
Agent Name
Paul Rixon
Agency Phone
(609) 390-8821

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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.