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964 Southport-supply Road Se
Bolivia, NC 28422
$85,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
Calling all savvy investors and entrepreneurs! It doesn't take a rocket scientist to determine that Brunswick County is not only a gem, but a found gem. Developments are springing up throughout Southport, Supply, and Bolivia- Oak Island is a beach haven flocking with activity. Now is your chance, before prices truly rise, to capture a piece of commercial land before prices escalate even more to serve our growing, flourishing communities. The land offered here has no wetlands, as been determined by an environmental scientist, and it can be used completely for development. The future owner does not have to worry about any stormwater devices encumbering the property since stormwater is permitted to go to the pond on the adjacent parent parcel. County water is already available, and counter sewer is available through the Rural Sewer Program. Since the stormwater pond is not located on the property, it actually serves as a tax benefit, making this ready-to-go-land a slam dunk for an investor client. If you need a little more help envisioning this tract's future usage, the current owner is kindly sharing his building plans which would lend itself to commercial office use as well as upstairs apartments. Residential rentals are ALWAYS needed in this area, especially with new homes being built in Winding River, River Sea Plantation, and St James with clients needing space before their homes are completed. Come visit the property, it is right in between Southport and Shallotte, on the main road spilling into both vibrant communities. Grab this opportunity while you still can! their homes are completed. Come visit the property, it is right in between Southport and Shallotte, on the main road spilling into both vibrant communities. Grab this opportunity while you still can!
Property Information
Lot Size
-- square ft
Property Type
Other
Year Built
--
MLS Number
100413751
Location
Address
964 Southport-Supply Road SE
City
Bolivia
State
NC
Zip Code
28422
County
BRUNSWICK
Listing
Provider
Keller Williams Realty-Brunswick County, original listing
Name
Keller Williams Realty-Brunswick County
Phone
(910) 575-6262
Office Name
Keller Williams Innovate-OKI
Office Phone
(910) 575-6262
Agent Name
Hank Troscianiec & Associates

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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.