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10425 Jordan Parkway
North Prince George, VA 23860
$528,800
Conventional
Property
Bedroom
5
Bathroom
7
Property Type
Conventional
Square ft
4460
Property Description
**AUCTION** List price is tax assessment value only. Selling price to be determined at auction. Bidding will start at $100,000. Property will be auctioned by Mountain Valley Auction Group via online-only auction. Online bidding will close at 1 PM ET on May 15, 2024. Property is being sold AS IS and is subject to a 10% buyer's premium pursuant to the terms and conditions. Please visit the Mountain Valley Auction Group website for a full list of auction information, including all terms and conditions. VAF1028 To settle the Dunfee Estate, we are offering at online auction the real estate and improvements located at 10425 Jordan Parkway, North Prince George VA 23860. This custom built home sits on a 1.27 +/- acre waterfront lot in the Jordan On The James Subdivision. It offers lots of luxury features and over 4,400 sq ft of total living space. In the main house it has 4 bedrooms, 3 full baths, and 2 half baths and in the detached guest house it has 1 bedroom and 2 full baths. Other features include a 2 car garage, custom swimming pool, two decks, screened in porch, stamped concrete driveway, and fountain. This property has some deferred maintenance and needs someone to love it again, but it provides an incredible opportunity to own one of the premier properties on Jordan Point. This expansive custom home was constructed with attention to detail and quality finishes throughout. On the first floor you will find a formal dining and living room, chef's kitchen, breakfast nook, massive family room, half bath, office, and library with coffered ceiling, handcrafted bar/cabinetry, and woodstove. On the second floor you will find a massive primary suite with bay sitting area, his and hers walk in closets and luxurious master bath with jetted tub. Also on the second floor are three more bedrooms each with their own walk in closet and a full bath plus additional half bath. On the basement level you will find an additional bathroom near the outdoor bar area as well as a workshop/storage area. The castle themed 1,200 sq ft detached guest house features its own full kitchen, 1 bedroom, two full bathrooms, and huge family room/game room upstairs with built in office and storage space. It has its own front porch with view of the water and a spiral staircase inside one of the turrets leading to the second floor balcony. The guest house was built in 1999 and is on its own electric meter. Outdoor spaces include a spacious front porch, screened in rear porch, first floor deck with pergola, custom stone patio and swimming pool, boardwalk and gazebo on the water, plus backyard garden space. This is a solid house with no major structural or functional issues that we are aware of but the property does need some maintenance and updating. The main house is due for a new roof. The decks and porches could use some maintenance. The swimming pool and fountain pool out front have not been operational for quite some time and need work. The boardwalk and gazebo on the water need painting. The interior wall in the guest house has settled and has a gap at the ceiling. Don't miss your chance to make this extraordinary property yours. It is well located in a quiet subdivision on the James River at Jordan Point just 8 miles from I-295 and 20 miles southeast of Richmond with easy access to many local amenities. Where ever you go, this is the place you will want to come home to!
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1992
MLS Number
11269448
Location
Address
10425 Jordan Parkway
City
North Prince George
State
VA
Zip Code
23860
County
PRINCE GEORGE
Listing
Provider
Mountain Valley Auction Group LLC, original listing
Name
Mountain Valley Auction Group LLC
Phone
Office Name
Mountain Valley Auction Group LLC
Office Phone
(540) 476-3309
Agent Name
Linford Berry

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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.