Home for Sale at 27836 Cummins Drive, Laguna Niguel, CA 92677

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27836 Cummins Drive
Laguna Niguel, CA 92677

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Property Details

List Price:	$1,250,000
Beds:	2
Baths:	3
Status:	Active
SqFt:	1706
Agency:	First Team Real Estate

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Description/Comments

Lot Size:	4,000 sqft
Property Type:	Residential
Year Built:	1987
Notes:	A nice bright open floorplan with two large master bedrooms with oversized walk-in closets. The living room has cathedral ceilings, a cozy fireplace and plenty of room for a sectional. The kitchen has plenty of counter space, recessed lighting with lots of natural light and a breakfast nook. There is a formal dinning room with a glass slider leading directly out to the back patio and yard. The two master suites have a very spacious feel due to the high ceilings and large room size. they each have ceiling fans with lights added to keep you cool. Both bedrooms come with walk-in wardrobes and upgraded bathrooms including tile and travertine shower enclosures. There is upgraded lighting and fixtures throughout. The private backyard has no one behind you, has a nice combination of hardscape patio, brick accents, green grass and newer rebuilt patio cover for cool shade. The community pool and spa have a resort type feel and is a wonderful place to mingle or get some laps in early morning. This is almost across the street from this wonderful home. <br /> There is a huge park around the corner with a tot lot and walking/biking trail. Come and visit this wonderful home, in a great neighborhood and wonderful city!
MlsNumber:	OC24112414

Listing Provided By:	First Team Real Estate, original listing
Name:	First Team Real Estate
Phone:	(949) 539-0824
Office Name:	First Team Real Estate
Office Phone:	(949) 539-0824
Agent Name:	Deborah Fairon
Disclaimer:	Copyright Â© 2024 California Regional Multiple Listing Service, 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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