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16 Quantuck Bay Lane
Westhampton Beach, NY 11978
Rod Cummings with Saunders & Associates, original listing - (631) 288-4800
$2,500,000
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
2862 Square Feet
Property Description
Welcome to Blue Barns. A romantic and lovely Hamptons retreat loaded with historic charm and beauty. Drive into the property up a long gravel driveway that opens up to a beautiful large lawn and the cedar-clad main house and detached c1900 cottage beyond. Inside you'll fall in love with the stunning features such as double-height ceilings with original rough hewn wood beams and wonderful wide plank floors. The expansive and sunny living room with an open hearth wood-burning fireplace leads to a large screened in porch overlooking the Gunite pool, cabanas and entertainment patio. Back inside there is a lovely first floor primary en-suite, and two second-floor bedrooms with a shared bath. The well-equipped kitchen is open to the dining area and bar.The detached cottage functions as a two-story independent residence with both a poolside and a driveway entry. The cottage has a living room and kitchen and full bath on first floor and a large king bedroom on the second floor. The backyard features a resort-like setting with pool, lounge and eating areas with ample options for both sun and shade which makes for perfect summer gathering and entertaining all day and night. Secluded and serene and close to both Quogue Village and Westhampton Beach Village. NOTE: This can be purchased as a true compound with the sister property Blue Barns II next door at 12 Quantuck Bay Lane which is also available for purchase creating a once in a lifetime purchase opportunity!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Farm
Year Built
1900
MLS Number
--
Location
Address
16 Quantuck Bay Lane
City
Westhampton Beach
State
NY
Zip Code
11978
County
SUFFOLK (EAST)
Listing
Provider
Saunders & Associates, original listing
Name
Phone
(631) 288-4800
Office Name
Office Phone
(631) 288-4800
Agent Name
Rod Cummings
Agency Phone
(631) 288-4800

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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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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.