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704 Newell Avenue
Manahawkin, NJ 08050
James Ciampi with C21/ Mack Morris Iris Lurie, original listing - (732) 536-2228
$1,999,999
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
2626 Square Feet
Property Description
Welcome to your dream WATERFRONT escape in the highly sought-after area The Coves, just a short ride over the bridge to LBI! This stunning and versatile Mother-Daughter shore home blends luxury, functionality, and natural beauty, creating the perfect sanctuary for unforgettable coastal living. Built in 2022 this architectural masterpiece sits on the FIRST LAGOON BEFORE THE MANAHAWKIN BAY, offering unparalleled waterfront living and a true boater's paradise. A 20k LBS BOAT LIFT, TWO FLOATING JET SKI DOCKS, and a 30-AMP DOCKSIDE OUTLET provide ultimate convenience, while the 75-FT VINYL BULKHEAD is a rare and valuable feature. Crafted for resilience, the home boasts JAMES HARDIE SIDING and CLOSED-CELL FOAM INSULATION for superior energy efficiency and year-round comfort. LED SOFFIT LIGHTING enhances the exterior's elegance, casting a warm glow over the property in the evenings. The HEATED FIBERGLASS SALTWATER POOL WITH AN INNOVATIVE ENCLOSURE ensures year-round swimming enjoyment, while an OUTDOOR SHOWER adds convenience after a day on the water. A KOHLER WHOLE-HOUSE GENERATOR guarantees uninterrupted power, ensuring peace of mind in any weather. This unique spacious design offers TWO SEPARATE LIVING AREAS each with its own kitchen, en suite bathrooms, bedrooms, and multiple laundry rooms, providing privacy and flexibility for extended family or guests while a PRIVATE ELEVATOR offers effortless access across all levels. Take in breathtaking waterfront views and stunning sunsets from any of the FOUR FIBERGLASS BALCONIES , the perfect spot for morning coffee or evening cocktails. A TANKLESS HOT WATER SYSTEM ensures endless comfort, while a COMPREHENSIVE SECURITY SYSTEM adds an extra layer of protection. The OVERSIZED PAVER DRIVEWAY and SPRAWLING TWO-CAR HEATED GARAGE, featuring its own thermostat-controlled damper system, offering ample storage for vehicles and all your coastal adventure gear. With beautiful beaches, top-rated restaurants, vibrant nightlife, family-friendly activities, and an excellent school system all just minutes away, this home truly offers year-round vacation living. All that's left to do is unpack, relax, and enjoy the sunset over the water!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2022
MLS Number
--
Location
Address
704 Newell Avenue
City
Manahawkin
State
NJ
Zip Code
08050
County
OCEAN (SOUTH)
Listing
Name
Phone
(732) 536-2228
Office Name
Office Phone
(732) 536-2228
Agent Name
James Ciampi
Agency Phone
(732) 536-2228

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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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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.