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209 Democracy Place
Apex, NC 27523
Linda Trevor with Compass -- Cary, original listing - (919) 769-1956
$1,675,000
Conventional
Property
Bedroom
4
Bathroom
Full: 3, ½: 2
Property Type
Conventional
Square ft
4445 Square Feet
Property Description
Welcome to this stunning brick home nestled on over 4.5 acres in Heritage Pointe, Apex! Boasting picturesque pond views and surrounded by nature, this waterfront property offers unparalleled tranquility. Inside, you'll find rich hardwood floors, plantation shutters, and intricate trim throughout. The Chef's kitchen is a dream, featuring top-of-the-line Dacor and Bosch appliances, custom crowned cabinetry, a prep island, and a second island with bar seating, along with a walk-in pantry and bright breakfast area. The spacious family room offers a soaring cathedral ceiling and a stone fireplace. The main floor owner's suite features a trey ceiling, private porch access, a cozy fireplace, and two walk-in closets. The spa-like bath includes dual granite vanities, a jetted tub, and a tiled shower. The main floor also offers a formal living room, elegant dining room, and laundry room. Upstairs, you'll find two bedrooms with a Jack-and-Jill bath, a third bedroom with an en-suite, and a large bonus room. A third-floor bonus room with a powder room adds extra versatility. Enjoy the screened porch, back deck, and the privacy of the fenced backyard with wooded views. Additional features include a 3-car garage, circular driveway, covered front porch, lush landscaping, chicken coop, and a private dock. Just down the road, a neighborhood trail leads to Jordan Lake. Conveniently located near Chapel Hill, Apex, Holly Springs, and major highways like US-64 and the Triangle Expressway!
Property Information
Lot Size
4 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2005
MLS Number
--
Location
Address
209 Democracy Place
City
Apex
State
NC
Zip Code
27523
County
WAKE (NORTHEAST)
Listing
Name
Phone
(919) 730-7746
Office Name
Office Phone
(919) 769-1956
Agent Name
Linda Trevor
Agency Phone
(919) 769-1956

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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.