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10 E 11th Street
Beach Haven, NJ 08008
$4,195,000
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
3760
Property Description
Located just one-off the beach, and steps from the pristine sands of LBI, the first thing you notice when you pull up is the expanse of private parking – unheard of in this part of the island. A two-car garage with all the space you need for your cars and all your beach toys – plus parking for the whole crowd. And as soon as you walk inside, you realize that this is a home built for family, fun, and fantastic memories. The first half-flight takes you into a gathering area right out of the past – surrounded by shiplap walls, wooden ceilings, distressed doors and floors – you will think you have entered an LBI “time warp”. A bunk room, a game room with an official shuffleboard table and arcade game, kitchenette and a true “gathering area” - including a beautiful brick fireplace with a stove insert. Picture a rousing game of scrabble, a good movie on the flatscreen, or relaxing with a great book on the front porch. All decorated with period pieces, but with all the modern amenities. Up a half flight to the master suite – including its own covered deck and a separate office, for those who need a quiet space to answer a few emails before dinner. An additional ensuite for the kids, which has both a bunk bed and queen-sized bed. The next level offers a separate “family suite” – including a king-size bed plus an adjoining bedroom with a shared bath. When you reach the top floor, you will see why this reversed-living great space is everything and more! A huge living area, bright and airy with beautifully appointed windows that bring the outside in. The stunning kitchen had an expanse of custom cabinets with quartz countertops, a Wolf stove and a SubZero fridge. In addition, a huge center island with a built-in microwave and additional SubZero drawers for easy access – and a dining table large enough to sit the whole family for dinner. Enjoy your morning coffee on the covered deck off the living room which offers stunning ocean views. Then, when the sun starts to go down, grab a cocktail and head up to the rooftop decks – for that 360-degree panoramic view of the island – and the best sunsets on the East Coast. The backyard also boasts a garden area with mature landscaping and an outdoor shower to rinse off the day on the beach, anticipating the steaks cooking on the grill. Enjoy the beach life!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1980
MLS Number
NJOC2020994
Location
Address
10 E 11TH STREET
City
BEACH HAVEN
State
NJ
Zip Code
08008
County
OCEAN (SOUTH)
Listing
Provider
RE/MAX At Barnegat Bay, original listing
Name
RE/MAX At Barnegat Bay
Phone
(609) 693-5002
Office Name
RE/MAX at Barnegat Bay - Ship Bottom
Office Phone
(609) 492-1145
Agent Name
Ed Freeman

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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.