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26837 Colony Drive
Salvo, NC 27972
Trisha Midgett & Team with Midgett Realty - Rodanthe, original listing - (252) 986-6321
$579,000
Conventional
Property
Bedroom
3
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
1861 Square Feet
Property Description
Welcome to this beautifully updated coastal retreat, meticulously maintained and freshly renovated, used as a second home. The first level features three inviting bedrooms, including a luxurious primary king suite with a marble-topped double vanity and an oversized walk-in tiled shower. The two additional bedrooms—one king and one twin—share a convenient Jack-and-Jill bathroom with a stylish marble vanity and a combined tub/shower. The downstairs is adorned with elegant plank porcelain tile flooring, while the upper level showcases stunning bamboo hardwood floors. The updated kitchen, featuring quartz countertops and a Bosch dishwasher, flows seamlessly into the open living area, where you can enjoy serene ocean views. While there is deeded ocean access in Hatteras Colony, the quickest way to the beach is down Tarheel Shores, which leads to a charming boardwalk for easy beach access (non-deeded). This home is perfectly situated in the heart of Salvo, offering both beach and sound access located across the street in the Wind Over Waves subdivision. Enjoy being close to Real Watersports—the epicenter of kiteboarding—and the Salvo Day Use Area, ideal for picnics, shallow waters, and sound-side access. The nearby multi-use sidewalk path stretches across the entire Tri-Villages, offering easy access to dining and entertainment. Savor waterfront dining at Good Winds and Waterman's, where breathtaking sunset views and delicious meals await. Don’t miss your chance to own a piece of paradise in this prime location—schedule your private tour today and experience the best of Outer Banks living! Fireplace is decorative only
Property Information
Lot Size
10,000 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
--
MLS Number
--
Location
Address
26837 Colony Drive
City
Salvo
State
NC
Zip Code
27972
County
DARE
Listing
Name
Phone
(252) 986-6321
Office Name
Office Phone
(252) 986-6321
Agent Name
Trisha Midgett & Team
Agency Phone
(252) 986-6321

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

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.