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9604 S Old Oregon Inlet Road
Nags Head, NC 27959
Jacqueline Ricks-Sample with Sun Realty - KDH, original listing - (252) 441-8011
$949,500
Conventional
Property
Bedroom
4
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
1948 Square Feet
Property Description
Hurry! This nostalgic cottage has been upgraded with ALL of today's necessities! Lets get down to basics: ALL NEW Fortified Roof, decking, plumbing, LVP flooring throughout, and electrical system with smart features. This vintage cottage catapults to the 21st century with bright white walls, pops of color, and eclectic furnishings perfect for your beach getaway. Completely remodeled kitchen features quartz counters, new cabinetry, eye-catching backsplash, and new stainless appliances. Open concept living area features multiple seating arrangements and a custom "Hang Ten" dining table. Play games in the bright west-side sun room, or head to the Tiki room with wet bar for libations. The top level east deck runs the length of the home, and the southwest sundeck provides shelter from the wind. All decks have 180 degree views. The updated powder room completes the upstairs living area. Head down to the foyer with sofa, desk area, and mounted TV. The en suite bedroom features an open glass shower with a custom multi-jet shower panel including adjustable jets and lighting. The second bath also includes this relaxing feature. All king bedrooms feature new frames and mattresses, and the bunk room has new beds and a wall mounted oscillataing fan. This huge lot could easily accommodate a pool in the private back yard that abuts Park Service Preserve land. The ouside shower, hot tub, gas grill, and swingset provide more space to gather and enjoy the ocean breezes. South Creek Acres also provides a community pool and tennis court. This is where you dreamed you'd return as a kid!
Property Information
Lot Size
16,860 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
--
MLS Number
--
Location
Address
9604 S Old Oregon Inlet Road
City
Nags Head
State
NC
Zip Code
27959
County
DARE
Listing
Name
Phone
(800) 801-7861
Office Name
Office Phone
(252) 441-8011
Agent Name
Jacqueline Ricks-Sample
Agency Phone
(252) 441-8011

Local Real Estate Expert

SR
Susie Von Suskil, ABR, GRI Broker, REALTOR
Howard Hanna Outer Banks Realty
Call Today!: (252) 207-1088

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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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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.