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60 Oak Street
Champlain, NY 12919
Jessica Coffman with Fesette Realty, LLC, original listing - (518) 324-4500
$474,900
Conventional
Property
Bedroom
5
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
4422 Square Feet
Property Description
This exquisite Victorian mansion, built around 1850, underwent significant renovations in 2004, which included the installation of modern PEX plumbing, heating, and electrical systems. The updated kitchen boasts contemporary features like granite countertops and stainless steel appliances. The formal dining room is adorned with floor-to-ceiling doors that open to a covered porch. A gas fireplace adds warmth for your formal dining occasions, while the original butler's pantry and remnants of a dumbwaiter serve as reminders of the home's regal past. The grand staircase and original hardwood floors serve as striking focal points in the center hall of the first level. This main floor also includes a game room, a cozy den with an original fireplace that has been converted to natural gas, and the same impressive floor-to-ceiling doors found in the dining room. Across from the den, the formal living room features a wood-burning stove and a lovely bump-out window that floods the space with natural light. Ascending the grand staircase to the second floor, you'll discover two additional bedrooms and a second bathroom, complete with a clawfoot tub, and elegant marble flooring. The primary suite, located across the main center hall, includes a spacious walk-in closet and a luxurious jacuzzi and separate shower. As you navigate through the third bedroom, you'll enter the other half of the mansion, which leads to two additional spacious bedrooms, a back staircase that descends to the first floor, and another staircase that provides access to the cupola area on the third floor. The cupola has been beautifully preserved and can be enjoyed majority of the year. Step outside to discover an expansive three-car garage, with second-floor for storage. Other amenities include a large deck, hot tub with gazebo, natural gas heat and town water and sewer. This stunning property would be an ideal home for anyone or serve as a lucrative Airbnb investment opportunity.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1850
MLS Number
--
Location
Address
60 Oak Street
City
Champlain
State
NY
Zip Code
12919
County
CLINTON
Listing
Name
Phone
(518) 572-5216
Office Name
Office Phone
(518) 324-4500
Agent Name
Jessica Coffman
Agency Phone
(518) 324-4500

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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.