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29 Mountain Ridge Drive
Wilmington, VT 05363
$2,900,000
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
7000
Property Description
Now with 38 acres! A unique opportunity to get into a spectacular newly built timberframe home almost complete, with a builder on board ready to finish, plus 4 separate gorgeous building sites. Come into this home and either use the fixtures and finishes already bought and paid for, or pick your own, and be moved in within 4 months according to the builder. This sits on a 5 acre parcel with stunning ski trail views and direct Haystack golf course access, just down from the Hermitage Club, and 3 miles from Mt Snow. The Mountain Ridge community is newly developed and this is the first opportunity to enter this new prestigious location. The home itself features utter privacy with a great buffer of trees, planned stone patio, large rear deck to take in the scenery, and breathtaking stone walls and planned landscaping. Inside you are treated to a gorgeous open concept floor plan with vaulted great room, exposed post and beam joinery throughout with a Davis Frame custom timber frame kit, a floor to ceiling stone fireplace, gorgeous kitchen dining area with great light, main floor primary suite, main floor mudroom, guest suite and/or office space, dual upstairs suites, a large loft den, lower level theater space, family room, bunk room with attached bath, and spacious bunk room or guest suite over the attached oversized 2 car garage, with large doors and rear door for toys and snowmobiles. No expense has been spared in this construction and now you can come in for the fun part.
Property Information
Lot Size
38 acre(s) square ft
Property Type
Residential
Year Built
2023
MLS Number
4980552
Location
Address
29 Mountain Ridge Drive
City
Wilmington
State
VT
Zip Code
05363
County
WINDHAM
Listing
Provider
Berkley & Veller Greenwood Country Realtors, original listing
Name
Berkley & Veller Greenwood Country Realtors
Phone
(802) 254-6400
Office Name
Berkley & Veller Greenwood/Dover
Office Phone
(802) 464-8900
Agent Name
Adam Palmiter

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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.