Foreclosure for Sale at 26 Seymour Lane, Ridgefield, CT 06877

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Foreclosure: 26 Seymour Lane
Ridgefield, CT 06877

Paul A. Cranick with eXp Realty, original listing - (866) 828-3951

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Property Details

List Price:	$1,175,000
Beds:	5
Baths:	Full: 3, ½: 1
Status:	Active
SqFt:	3980 Square Feet
Agency:	eXp Realty
Agency Phone:	(866) 828-3951

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	1 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1972
Notes:	Nestled at the end of a peaceful cul-de-sac, this stunning 5-bedroom, 3.1-bathroom home offers 3,980 square feet of luxurious living space on a sprawling 1.2-acre lot. New roof. As you step through the inviting covered front porch, you are greeted by the elegance of beautifully refinished hardwood floors that flow throughout the main level. The heart of the home is the custom kitchen, a culinary masterpiece featuring pristine white shaker cabinets, sleek quartz counters, and stainless steel appliances. This kitchen is sure to delight the gourmet chef in your family and provides ample space for entertaining. The main level also includes a formal dining room, ideal for hosting memorable dinners, and a spacious great room with soaring vaulted ceilings, creating an open and airy atmosphere. The master suite is a true retreat, featuring a beautifully updated en-suite bathroom and ample closet space. Four additional bedrooms provide versatility for guests, a home office, or a hobby room. All bathrooms in the home have been tastefully updated, showcasing modern fixtures and finishes. With the convenience of new central air conditioning, you'll stay cool and comfortable all year round. The home also features a 2-car garage, providing plenty of space for vehicles and storage. This property offers the potential for an in-law opportunity, providing flexibility for multi-generational living or guest accommodations. New septic system just installed!
MlsNumber:	--
ListingId:	24047501

Listing Provided By:	eXp Realty, original listing
Phone:	(860) 608-5047
Office Phone:	(866) 828-3951
Agent Name:	Paul A. Cranick
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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