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42 Altamont Road
Washington, NY 12545
$7,500,000
Conventional
Property
Bedroom
6
Bathroom
8
Property Type
Conventional
Square ft
7207
Property Description
Millbrook Estate's secluded 14-acres of park-like beauty is surrounded by thousands of acres and privately owned estates. This exquisite, turnkey luxury compound features complete privacy along with cutting edge technology, and a fully functional executive home- office. An easy commute to New York City, and minutes from Millbrook Village and major medical facilities, this peaceful haven is perfectly suited for full-time or weekend living. Privately set on one of the most exclusive country roads in Dutchess County and nestled in the rolling hills 800 feet above Millbrook, this property offers breathtaking views with beautiful luxurious gardens. Impeccably decorated, the estate is available fully furnished in immediate move-in condition. The Millbrook Estate compound is uniquely flexible, comprised of three separate living locations - an elegant Main Residence, a spacious Studio Apartment, and a private Guest House. Recently renovated with top-of-the-line appliances, this residence has an open- concept design for comfort and convenience. The versatility of these separate spaces is endless, from a conference center or private corporate retreat, to simply the perfect family home. Inside the Main Residence, a central soaring cupola fills the space with natural light. An open floor plan with high ceilings and abundant picture windows reinforces the sunny spacious flow. The ground floor is currently configured with an expansive Great Room including a chef's kitchen, eating area, living room, and formal dining room. Several glass patio doors lead to the pool, outdoor dining, and entertainment terraces that overlook a sunken garden with waterfall. The Main Residence also features a state-of-the-art executive home office with private full bathroom and library-conference room, with high-speed internet, Optimum VoIP and Verizon phone service with a private cell tower, providing all the necessities of a modern urban office. Both the executive-sized home-office and large den/library with wet bar and full bath can easily be transformed into additional bedrooms for ground floor convenience or "aging-in-place". A split staircase leads to the second floor of the Main Residence with a luxurious primary suite and lounge area, adjacent dressing room and large master bath with Jacuzzi. The second bedroom is equally spacious with an en-suite full bath. Both bedrooms have stunning views over the estate lawns and gardens. Adjacent to the Main Residence, with a secure and separate entrance, is a graceful loft apartment with kitchenette, dining area, en-suite full bath, plentiful storage and views over the sweeping lawn. Below the apartment is the pool house with kitchenette, Subzero refrigerator, full bath, laundry facilities, and full-sized cupboards with built-in temperature-controlled wine coolers. Attached to the pool house is a Garage and utility area with private service half-bath. Discreetly situated away from the Main Residence is the private Guest House. This single floor home boasts soaring double-height ceilings, with an open-concept living space including chef's kitchen, dining area, and living room with gas fireplace. The large bedroom features a king-size bed and a full bath with Jacuzzi. A washer/dryer and adjoining two-car garage with separate storage/work area completes the home. All three buildings are joined by intercom and remote-access security systems, as well as monitored by interior and exterior cameras. Dual back-up well pumps ensure steady and purified water to each residence, and two automatic generators provide full electric backup. A flowing stream supplies water for irrigation. Hidden from view is an outbuilding which houses all ground keeping equipment.
Property Information
Lot Size
14 acre(s) square ft
Property Type
Residential
Year Built
2000
MLS Number
3539896
Location
Address
42 Altamont Road
City
Washington
State
NY
Zip Code
12545
County
DUTCHESS
Listing
Provider
Karten Real Estate Services, original listing
Name
Karten Real Estate Services
Phone
(917) 502-2635
Office Name
Karten Real Estate Svcs LLC
Office Phone
(917) 502-2635
Agent Name
Mark Karten

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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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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.