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821 Summit Ct
Manakin Sabot, VA 23103
$1,295,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
Nestled in Cedar Run Estates, this classic colonial exterior surprises with a modern floor plan for today's active lifestyle and features a new luxury kitchen and salt water pool! The casual family spaces include a new open kitchen & living room with stone fireplace with gas logs. French doors open to the rear full covered porch that overlooks a sparkling vinyl and salt water pool, stone fireplace & lawn area on nearly 4 acres. The kitchen was recently renovated with a fabulous center quartz dining island, custom white cabinets, perimeter quart countertops and a custom range hood. A Wolf gas range, a pot filler faucet, a stainless Sub-Zero refrigerator freezer, a Sharp drawer microwave, a Bosch dishwasher and a porcelain apron front sink at the window appoint the kitchen. A dining room and home office with a wall of built-in bookcases flank the entry foyer. The expansive family room is ideal for gatherings and features an entertainment cabinet that conveys. A renovated laundry room/craft area includes built-in cabinets and sink. The family foyer is flanked by closets for abundant storage and connects to the mudroom at the friend's entry with built-in bench and cubbies. A media room with theatre seating and home gym is above the 2-car garage. The second floor primary suite is gorgeous with a white marble bath featuring a spa style soaking tub, separate shower, double vanity and heated floors. Three more bedrooms, including one with en suite bath complete the second floor. The third level makes an ideal playroom or home office. Hardwoods on 1st & 2nd levels, high ceilings, designer lighting & window coverings. Hardie-plank siding painted in 2019 and GAF dimensional shingles. The sports pool is 14' X 40', 3' deep on the ends and 5' deep in the middle. Heat Pumps replaced in 2022 and 2023. Pre-wired for a portable generator and EV charger. Hermitage Country Club and Kinloch Golf Club are within 2 miles. Convenient to St Gertrude's, Steward and Collegiate Schools.
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
2000
MLS Number
2407935
Location
Address
821 Summit Ct
City
Manakin Sabot
State
VA
Zip Code
23103
County
GOOCHLAND
Listing
Provider
Long & Foster Real Estate, original listing
Name
Long & Foster Real Estate
Phone
(888) 536-0216
Office Name
Grove
Office Phone
(888) 536-0216
Agent Name
Pam Diemer

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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.