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9 Poor Farm Road
Alburgh, VT 05463
$599,900
Conventional
Property
Bedroom
2
Bathroom
2
Property Type
Conventional
Square ft
2257
Property Description
High quality new construction on a country acre, located across the road from Lake Champlain, with amazing 2nd floor eastern sunrise views over the Alburgh Passage. Attention to detail includes shiplap cedar siding sourced from Hudak Lumber in St. Albans, stone and paver retaining walls, poured concrete entry stairs and lower level patio, dense faux stone chimney and foundation application, & a wraparound Trex deck for no maintenance. Custom amenities are found throughout the interior, including hardwood flooring throughout the main level, 23’ soaring cathedral ceilings with tongue & groove wood & a wall of windows, wood burning stove, custom staircase with oak treads, cedar posts & iron railings, KraftMaid hickory kitchen with deep dovetail soft-close drawers, pullouts, super Susan corner cabinet, pull out trash, granite counters, black stainless steel appliances including a French door/double drawer refrigerator and slide in glass top range with outside venting hood, & walk in pantry. One bedroom on the main level adjacent to a tiled full bath, & mudroom/laundry around the corner. The second floor encompasses the primary bedroom suite, including a private ¾ bath & loft overlooking the Lake. The walkout lower level contains two large rooms ideal for use as a den, home office, workout room, library, etc., with each including large sliding glass doors leading to the east facing patio. Mechanicals include a Rinnai boiler with instant domestic hot water. See 3D VIRTUAL TOUR.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
2021
MLS Number
4982733
Location
Address
9 Poor Farm Road
City
Alburgh
State
VT
Zip Code
05463
County
GRAND ISLE
Listing
Provider
RE/MAX North Professionals, original listing
Name
RE/MAX North Professionals
Phone
(802) 760-7517
Office Name
RE/MAX North Professionals - Burlington
Office Phone
(802) 760-7517
Agent Name
Matt Hurlburt

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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.