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220 Station House Way
Bald Head Island, NC 28461
WWP John Munroe Team with Wendy Wilmot Properties, original listing - (910) 470-0000
$5,295,000
Conventional
Property
Bedroom
5
Bathroom
Full: 6, ½: 1
Property Type
Conventional
Square ft
4100 Square Feet
Property Description
From this five bedroom, 6.5 bath oceanfront's beautifully landscaped courtyard, to its deep covered front porch, this Executive retreat exudes curb appeal. Inside, the spacious two-story foyer doubles as a library with shelves of books and comfy seating. Beyond, the open floor plan reveals a bayed beachfront living space with plenty of windows, a beamed ceiling and wood-burning fireplace. The adjacent sunny dining area boasts a table set for eight that could welcome more. Enjoy meals here or al fresco on the nearby screened dining porch or on the house-length back porch that provides another table and chairs as well as lounges and an eight person hot tub. From here, step down to the sun deck and your own private East Beach access. Back inside, the chef's kitchen boasts a wraparound granite breakfast bar seating five, a center island, stainless appliances-including a wine cooler and ice maker, loads of storage and a walk-in pantry. Down the hall is a half bath as well as two roomy Queen suites. Both proffer walk-in closets, glass/tile showers and double vanities. The oceanside suite provides extra pampering with a soaking tub and back porch entree. Upstairs, a balcony overlooks the foyer and opens into the media room whose back wall of glass spotlights the Atlantic. Don't miss its porch with panoramic perspectives from Frying Pan Shoals to Fort Fisher! This floor also houses a large King Master with water views, a walk-in closet with dressing room and luxurious en suite. On the other end of this level, the bunkroom is equipped with three twins as well as the bunk bed. It has its own private bath or can use the additional full bath down the hall. For those craving privacy, this haven's crofter presents a well-appointed Queen suite with its own oceanview porch, indoor and outdoor showers, and kitchenette. Conveying with one six-passenger, and located near the Conservancy, Shoals Club and Cape Fear Station, this home is the best of Bald Head
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2001
MLS Number
--
Location
Address
220 Station House Way
City
Bald Head Island
State
NC
Zip Code
28461
County
BRUNSWICK
Listing
Name
Phone
(910) 470-0000
Office Name
Office Phone
(910) 470-0000
Agent Name
WWP John Munroe Team
Agency Phone
(910) 470-0000

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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.