Home for Sale at 104 County Road, Eastport, ME 04631

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104 County Road
Eastport, ME 04631

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Property Details

List Price:	$240,000
Beds:	--
Baths:	--
Status:	Active
SqFt:	--
Agency:	Realty of Maine
Agency Phone:	(207) 942-6310

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Description/Comments

Lot Size:	14 acre(s)
Property Type:	Lots And Land
Year Built:	--
Notes:	This extraordinary property is a rare gem in Eastport, offering 14.7 acres of pristine land that is perfectly positioned to take advantage of the area's booming development. This property is abutting a new development area, providing an excellent opportunity for businesses and entrepreneurs to establish themselves in a thriving and growing market. In addition, the property's proximity to the airport makes it an ideal location for businesses with international clientele or those who rely on frequent travel. The airport is just a few minutes drive away, providing quick and easy access to major transportation hubs. While the property is currently landlocked, the potential for future development is immense. The surrounding area is undergoing significant growth and development, which means that the property's value is likely to increase over time. With entrepreneurial motivation abound, this property presents a tremendous opportunity for those who want to build something great. Don't miss out on this chance to own a piece of land with endless possibilities. Whether you're an entrepreneur looking to establish a new business or an investor seeking a prime real estate opportunity, this property is sure to exceed your expectations.
MlsNumber:	1585680

Listing Provided By:	Realty of Maine, original listing
Name:	Realty of Maine
Phone:	(207) 942-6310
Office Name:	Realty of Maine
Office Phone:	(207) 667-2300
Agent Name:	Heidi Holley
Disclaimer:	Copyright Â© 2024 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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.

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