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1 Cherry Blossom Lane
Scotch Plains, NJ 07076
Matthew Tully with RE/MAX Central, original listing - (732) 972-1000
$1,320,000
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
3128 Square Feet
Property Description
Welcome to 1 Cherry Blossom Lane, Scotch Plains, NJ—a stunning 4-bedroom, 3.5-bathroom Colonial-style home situated on a premium corner lot in the desirable south side of Scotch Plains. From the moment you step onto the expansive covered front porch, you're greeted by classic charm and elegant design. Enter through the 2-story foyer where hardwood floors and beautiful decorative moldings flow seamlessly throughout the entire first floor, which features soaring 9-foot ceilings. To the left, you'll find a formal living room adorned with decorative moldings that opens into a formal dining area featuring bay windows and matching moldings. To the right, French glass doors lead into a versatile office space, perfect for working from home or as a potential 5th bedroom for guests. The heart of the home is the open-concept kitchen with breakfast area and family room. The kitchen boasts a full stainless steel appliance package, including a refrigerator, microwave, gas range with a hood fan, and a dishwasher. Decorative moldings continue into the kitchen and informal dining area, which flows effortlessly into the 2-story family room. The family room is bright and inviting, featuring skylights, a gas-burning fireplace, and elegant moldings that add a touch of sophistication. Just off the breakfast area is a laundry room, which offers direct access to the attached 2-car garage and includes a washer, dryer, and laundry tub. A convenient powder room completes the first floor. Upstairs, the spacious primary bedroom features two closets and an additional walk-in closet, perfect for use as a fitness or exercise room. The en-suite primary bath includes double sinks, a shower stall, and a luxurious jetted tub. Down the hall are three generously sized bedrooms that share a bathroom with double sinks and a tub-shower combo. The finished basement is designed for entertainment, offering a theater room with seating for 12, including 8 leather recliners. Behind the recliners is a dining island, perfect for snacks and drinks during movie nights. The wet bar area is a standout feature, designed with granite countertops, pub-style bar seating, a dishwasher, a refrigerator, a wine cooler, and ample cabinet space, creating an ideal setting for entertaining. A recreation room and an additional multi-purpose room with French doors provide flexibility for various uses, such as a bedroom, home gym, playroom, art studio, or craft room. A full bathroom with a shower stall completes this lower level. Outdoor living is enhanced by a fully fenced-in backyard, complete with a vinyl fence, patio, playground set, and storage shed. Additional features include an electric vehicle charger conveniently located off the garage. Located in an A-rated school district with a rare bus stop in Scotch Plains, this home offers easy access to commuter lots, trains, shopping, and restaurants. This exceptional home combines luxury, comfort, and convenience in a sought-after location on the south side of Scotch Plains!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2006
MLS Number
--
Location
Address
1 Cherry Blossom Lane
City
Scotch Plains
State
NJ
Zip Code
07076
County
UNION (WEST)
Listing
Name
Phone
(732) 972-1000
Office Name
Office Phone
(732) 972-1000
Agent Name
Matthew Tully
Agency Phone
(732) 972-1000

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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.