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4 Fox Ridge Lane
Locust Valley, NY 11560
Eleni Tzimas with EXP Realty, original listing - (888) 276-0630
$1,780,000
Conventional
Property
Bedroom
4
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
2851 Square Feet
Property Description
Discover this elegant colonial style home nestled in the heart of Locust Valley, with complete privacy, bordered by manicured evergreen landscaping. A traditionally exquisite stately entrance to foyer leads to all living spaces. This home boosts nine-foot ceilings, custom crown moldings and baseboards, hard wood oak flooring with custom casing surrounding solid wood six panel doors throughout. The kitchen is surrounded by ample, solid maple cabinetry surfaced with Corian countertops and new stainless-steel appliances. It features an inviting round eating area with six custom wood shaded windows and a back entrance leading onto a large composite deck with railings and stairs, great for outdoor dining, barbecues and social gatherings leading to the very private backyard. A half bathroom adjacent to a comfortable sized family room featuring a wood burning fireplace, with custom mantel and French doors leading to the deck. The formal living room features a classic designed fire place with the option to convert to gas burning. The second level opens up to a comfy sitting area, with a palladium window providing abundant afternoon sunlight overlooking Rose and Hydrangea gardens. The master bedroom features a walk-in closet providing access to the attic and private entrance to a comfortably sized master bath including skylights, a 2-sink marble vanity, jacuzzi and new glass enclosed shower. This level includes three additional bedrooms with large sliding door closet spaces, a linen closet and a second full bath with double vanity, tub and shower. A full finished basement with porcelain tile flooring, baseboard heat with separate zone control. A newly designed laundry room with built-in cabinetry, laundry bins, wet sink and washer/dryer covered with hard surface countertop. Adjacent to the laundry room is a work/storage room with a Bilco door protected walk out egress to the backyard. Heated with natural gas and has separate gas fired water heater. Newly updated central air conditioning system. Newly paved driveway with Belgium block skirt entrance leads to two car attached garage featuring custom metal cabinets covering two walls with workbench. Lawn sprinkler control system located in garage. Location central to Locust Valley schools, near-by shopping, top rated restaurants, beaches, boating and the LIRR. Your choice of several private and public golf courses, let's not forget tennis, the public library provides availability to several courts!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1994
MLS Number
--
Location
Address
4 Fox Ridge Lane
City
Locust Valley
State
NY
Zip Code
11560
County
NASSAU (NORTH)
Listing
Provider
EXP Realty, original listing
Name
Phone
(516) 449-8187
Office Name
Office Phone
(888) 276-0630
Agent Name
Eleni Tzimas
Agency Phone
(888) 276-0630

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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.