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106 Crest River Drive
Middletown, VA 22645
Sarah Abderrazzaq with Realty ONE Group Old Towne, original listing - (540) 773-8475
$1,799,999
Conventional
Property
Bedroom
9
Bathroom
Full: 8, ½: 2
Property Type
Conventional
Square ft
10065 Square Feet
Property Description
Currently priced UNDER ASSESSED VALUE! Atop the Shenandoah Valley, overlooking Massanutten Mountain and North Fork Shenandoah River, this property sits on 22 acres with a staggering 964 feet of coveted riverfront and breathtaking views. Of the 22 acres, there are 15 acres of pasture, 6 acres of forest, and 1 acre for the residence. A naturally fed pond (120 feet wide x 300 feet long) sits between the pasture & the forest for carp and bass fishing, duck hunting, & picnicking and all can be accessed by a beautiful railroad tie steps from the house to the pond or a gated & paved right of way road on the side of the property onto the lawn of the pond. The 22 acres offer an opportunity for subdivision for another dwelling with the same mountain views and riverfront. Want multi-generational living with separate spaces or private quarters & business combined or short-term rental potential or all of the above in one property? Unique in design, this estate features two distinct houses under one roof, offering the perfect fusion of privacy and connectivity for multigenerational living or hosting esteemed guests. With two decks overlooking the scenic landscape, and an above-ground pool for refreshing dips on sunny days, every amenity has been thoughtfully curated to elevate your lifestyle. There are 6710 square feet of living space on two floors, 3355 sq. ft. of finished basement that includes 2808 sq. ft. of business offices, for a total of 10,065 sq. ft. (not including the 447 sq. ft. 2 car garage). HOUSE #1: Enter into the foyer of the larger house to see through to the glorious mountain and valley views. This main floor is where the heartbeat of the house is. Wood flooring and fireplaces warm the space and a natural flow carries you to the family room or library. A primary bedroom with an en suite and walk-in closet is tucked on the end of this floor for privacy. A large family room with a slider to the deck, an open space dining area, an island kitchen connected to another eat-in area and out to a screened-in porch outside, a half bath, and a mudroom entry in the center of the two spaces complete this floor. Upstairs you will find all the bedrooms and baths you could need; each large and expansive bedroom has hardwood floors and an attached bathroom with heated floors. HOUSE #2: With vaulted wooden ceilings and a grande stone hearth reaching to the ceiling, this side of the house has a chalet cabin feeling upon entering. As you explore more, you find that this is more than a cabin, it is a full-sized home. Complete with its own separate entrance, kitchen, laundry, pantry, office, 2 bedrooms, and 2 bathrooms, you may not be able to pick a side to move into! Ample storage rooms, closets, and utility rooms in the basement too. Bring your ideas to the basement where there are 2 more bedrooms, 2.5 baths, and rooms for a game room, gym, movie theatre, card room, home offices, home school, wine storage, etc. Do yourself a favor, come and see this view and fall in love.
Property Information
Lot Size
22 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2000
MLS Number
--
Location
Address
106 CREST RIVER DRIVE
City
MIDDLETOWN
State
VA
Zip Code
22645
County
FREDERICK
Listing
Name
Phone
(540) 247-1527
Office Name
Office Phone
(540) 773-8475
Agent Name
Sarah Abderrazzaq
Agency Phone
(540) 773-8475

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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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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.