Home for Sale at 111 Spring Valley Road, Ridgefield, CT 06877

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111 Spring Valley Road
Ridgefield, CT 06877

Shaylene Neumann with Houlihan Lawrence, original listing - (203) 438-0455

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Property Details

List Price:	$5,250,000
Beds:	5
Baths:	Full: 5, ½: 2
Status:	Active
SqFt:	9968 Square Feet
Agency:	Houlihan Lawrence
Agency Phone:	(203) 746-6565

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Description/Comments

Lot Size:	5 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2006
Notes:	Mallard Pond is one of Ridgefield's most distinguished country estates, beautifully situated on 5.71 pastoral acres that feature a scenic pond in a prime equestrian area, with nearby stables and riding trails. This architectural masterpiece, custom built in 2006, showcases a majestic blend of classical design elements influenced by five historic late 18th and early 19th-century Virginia plantation homes. Spanning approximately 10,000 square feet, this exceptional residence includes 5 bedrooms, 5 full bathrooms, and 2 half baths, along with luxurious amenities such as 7 fireplaces, a second-floor "Oak Room" bar, a separate meditation pavilion/studio, and a full apartment on the lower level with private entry. The gated entry is adorned with authentic gas lights, and the exquisite interiors showcase reclaimed cherry hardwood floors, plaster-cast crown moldings, and detailed paneling and trim work. The gourmet kitchen opens to a spacious family room with a cathedral ceiling, while the formal living and dining rooms, mahogany library, and conservatory provide ample space for entertaining. Upstairs, the master suite includes a sitting room, dressing area, and luxurious bath, along with three additional en-suite bedrooms and an office. The lower garden level features a recreation room, exercise room, and an in-law or au pair suite with a separate entry. Set against a backdrop of stone walls, meadows, and meandering brooks, the estate features a 50-foot heated saltwater lap pool
MlsNumber:	--
ListingId:	24053409

Listing Provided By:	Houlihan Lawrence, original listing
Phone:	(203) 948-4655
Office Phone:	(203) 438-0455
Agent Name:	Shaylene Neumann
Disclaimer:	Copyright © 2024 SmartMLS, 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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