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418 Safe Harbour
Newport, NC 28570
Eugene Gurganus with Sun Coast Properties of ENC Inc., original listing - (252) 764-0024
$1,599,000
Conventional
Property
Bedroom
3
Bathroom
Full: 4, ½: 1
Property Type
Conventional
Square ft
4300 Square Feet
Property Description
Come and see this beautiful custom waterfront home with an impressive stature! This home, built by long time builder, Eugene Gurganus of Sun Coast Homes and Development, has the quality construction you've been looking for. It sits in a private area of the neighborhood on a peaceful creek with little boat traffic. The backyard along with 2nd and 3rd story porches provide a private outdoor experience. Invite your family and friends for great entertaining and boating in mind. High-end finishes include Brazilian cherry cabinets in the main kitchen, hickory wood floors, a massive custom master closet, 2 covered porches (1 of them screened-in), a 4-car tandem garage(!), a golf cart garage, a movie room, 3 ensuite bedrooms all with walk-in closets, an office with a walk-in closet, a hot tub, a brand new roof, fresh paint in most of the home and garage, fresh paint on the Hardie board & batten, new exterior fans, a new range, approx 1 year old microwave and dishwasher, underground sprinklers and dog fence, hog slat dock, 10,000 pound boat lift, a gorgeous view, and mature landscaping, among many other things. This home also has an attic that is approximately 1800 sf and more storage under the front stairs. Built on high ground, this home was far from seeing tidewater from Hurricane Florence. While the property is in an AE8 flood, the garage floor is at approximately 12 feet. The brick seawall also provides protection from tidewater. This home is extremely well-built to sustain so many more years to come. The location is close the the intracoastal waterway, Emerald Isle, and smaller islands for limitless fun! Several items in the home are negotiable including some furniture, the pool table, foosball table and refrigerators. Currently, they do not convey. This home has a surround sound system although the current owner is not familiar with how to use it. The home gym does not convey.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2008
MLS Number
--
Location
Address
418 Safe Harbour
City
Newport
State
NC
Zip Code
28570
County
CARTERET
Listing
Provider
Sun Coast Properties of ENC Inc., original listing
Name
Phone
(252) 764-0024
Office Name
Office Phone
(252) 764-0024
Agent Name
Eugene Gurganus
Agency Phone
(252) 764-0024

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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.