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45 Howell Street
Southampton, NY 11968
$4,499,000
Conventional
Property
Bedroom
6
Bathroom
6
Property Type
Conventional
Square ft
4600
Property Description
Traditional custom new construction estate in Southampton Village tucked into a peaceful compound with pool house and heated saltwater gunite pool with waterfall. A gracious residence of 4,600 +/- square feet of living space with in total six bedrooms, five full and one half bathrooms. The first level includes a Professional Chefs Kitchen fully outfitted with custom center island, custom paneled Subzero refrigerator, Subzero beverage refrigerator, Meile built-in coffee maker, Wolf dual stove, Wolff microwave drawer, Fisher Paykel 2-drawer custom paneled dishwasher and pantry. The kitchen effortlessly flows into the living room with custom coffered ceiling, custom built-in book shelves and custom greek marble fireplace surround and formal dining room finished with custom wainscoting and molding, all with access to the powder room. The oversized two-car garage connects to the mudroom, with a custom built-in bench seat, and laundry room with Electrolux units and custom cabinetry. The first floor junior primary features cathedral ceilings with custom shiplap paneling, walk in closet and ensuite custom bathroom. The grand oversized custom white oak staircase leads to the second floor featuring the primary suite and two guest bedrooms. The primary suite, featuring custom millwork, includes an oversized custom closet with, shiplap paneling and built in bench seating, and spacious custom marble bathroom with separate lavatory. Two additional guest bedrooms all with en suite baths for guests. The lower level features a gym with rubber mat flooring and Dryheat Eucalyptus Wood sauna. Two guest bedrooms with custom shiplap headboard walls and floating nightstands share a full custom bathroom with steam shower. Finalizing the lower level is a theatre with 9-leather reclining theatre seats and room for built-in cabinetry and wetbar. The lower level can be accessed both by the main staircase, as well as the secondary staircase in the garage. The heated gunite saltwater pool with jacuzzi is surrounded by a lavish patio and built-in barbeque with ample room for outdoor entertainment. The +/- 350 square foot pool house features an outdoor shower, changing room, full bathroom, and generous living space with kitchenette including a refrigerator, dishwasher, microwave drawer and sink. All just moments away from the renowned ocean beaches, luxury boutiques, and acclaimed restaurants Southampton Village has to offer.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2020
MLS Number
3528790
Location
Address
45 Howell Street
City
Southampton
State
NY
Zip Code
11968
County
SUFFOLK (EAST)
Listing
Provider
Douglas Elliman Real Estate, original listing
Name
Douglas Elliman Real Estate
Phone
Office Name
Douglas Elliman Real Estate
Office Phone
(631) 725-0200
Agent Name
Thomas Cavallo

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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.