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837 Salt Water Lane Sw
Supply, NC 28462
Jimmie Pendergrass with Coldwell Banker Sea Coast Advantage, original listing - (910) 754-6782
$899,900
Conventional
Property
Bedroom
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Bathroom
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Property Type
Conventional
Square ft
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Property Description
Welcome to 837 Salt Water Lane SW in Supply, NC-the very epitome of those first three rules of real estate: location, location, location. Set along the Atlantic Intracoastal Waterway and featuring awe-inspiring maritime vistas nearing 180 degrees, this magnificently spacious homesite is accessed via the physical confines of Seascape at Holden Plantation while otherwise unbound to the community or its POA. Platted in 1957, this homesite predates Seascape by a few years. Eight Thirty-seven Salt Water Lane SW fronts over 300 feet of Mean High Water overlooking acre upon acre of salt marsh, maritime forest and federally-navigable waters. Within approximately one mile line-of-sight is the Holden Beach Bridge. In the other direction is the Lockwood Folly Inlet into the Atlantic Ocean. With appropriate deference to CAMA's 30' and 75' setbacks there's yet ample space within the .64 acre homesite to build a dream home overlooking incredible ever-changing panoramic views. Adorned with a variety of palms, majestically shaped live oaks and even a purported Giant Sequoia, the property also features a 12'x20' existing shed in usable condition. There indeed existed an older home & swimming pool on the property until demolished shortly after the seller purchased. Left in place over the water, however, are the pier, gazebo, boat lift and floating dock, all in some disrepair, their value in the footprint more so perhaps than their utility. A home at 837 Salt Water Lane SW affords immediate access to maritime delights, whether cruising to dinner along the Intracoastal Waterway, inshore fishing the local rivers and inlets or going deep-sea where the biggest fish swim. A home at 837 Salt Water Lane SW, behind the gates of Seascape at Holden Plantation, is yet within a 5-mile drive of ''Toes in the Sand'' on Holden Beach. Quite rare is the opportunity to acquire such a unique homesite with such commanding views in such a fantastic location. Take a look, go by boat, then take advantage..
Property Information
Lot Size
0 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
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Location
Address
837 Salt Water Lane SW
City
Supply
State
NC
Zip Code
28462
County
BRUNSWICK
Listing
Name
Phone
(910) 367-0806
Office Name
Office Phone
(910) 754-6782
Agent Name
Jimmie Pendergrass
Agency Phone
(910) 754-6782

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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.