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5004&5005 Kinloss Drive
Fuquay Varina, NC 27526
$2,295,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3710
Property Description
Bring your horses with country living in the heart of Wake County! Standing out among one the Triangle's most impressive custom-built new construction residences is a ranch-style home nestled on nearly 14 acres of level land, with no HOA restrictions, and is situated off Sunset Lake Road, just shy of the Holly Springs border. Spanning over 3,700 square feet with an additional 3,500 square feet of unfinished space on the second floor, available for future expansion, if desired! This thoughtfully designed estate has a 3-car attached garage with utility sink, utilizing the finest materials and customized elements such as 10' and 9' ceiling heights, oversized baseboards, and wide plank engineered hardwood styled floors. A true open floor concept in the heart of the home combines a sophisticated living space with elegant, coffered ceiling and a floor-to-ceiling stone fireplace with built-in shelving on either side and a gourmet kitchen showcasing an abundance of cabinetry, industrial size fridge/freezer, wall oven, quartz countertops, and an expansive center island adding storage and accent color. An adjacent breakfast nook compliments an array of table options plus a convenient drop station and generously sized laundry room as you enter from the garage. Over-sized windows display breathtaking views of the beautiful park-like setting. The primary bedroom boasts a walk-in closet and dual ensuite bathrooms, both including their own private commodes, vanity sinks, and walk-in showers. There is a guest suite on the opposite side of the home with a private bathroom and WIC. The other three flex rooms can be converted to bedrooms, home offices, fitness rooms, the list is endless. A screened-in porch equipped with outdoor fireplace and ceiling fan give additional living space year round! The backyard was designed with possible future in ground pool addition. Come see this incredible property in person!
Property Information
Lot Size
13 acre(s) square ft
Property Type
Residential
Year Built
2024
MLS Number
10030782
Location
Address
5004&5005 Kinloss Drive
City
Fuquay Varina
State
NC
Zip Code
27526
County
WAKE (SOUTHWEST)
Listing
Provider
Team Anderson Realty, original listing
Name
Team Anderson Realty
Phone
(919) 610-5126
Office Name
Team Anderson Realty
Office Phone
(919) 610-5126
Agent Name
Erica Anderson

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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.