Home for Sale at 38 Driftwood Lane, Trumbull, CT 06611

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38 Driftwood Lane
Trumbull, CT 06611

Kristin Egmont with Keller Williams Realty, original listing - (203) 429-4020

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Property Details

List Price:	$1,199,999
Beds:	4
Baths:	Full: 2, ½: 1
Status:	Active
SqFt:	3081 Square Feet
Agency:	Keller Williams Realty
Agency Phone:	(203) 429-4020

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Description/Comments

Lot Size:	1 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1968
Notes:	Breathtaking waterfront Colonial, nestled within the exclusive Canoe Brook Lake Association. With over 3,000 SF, this home features 4 bedrooms, 2.5 baths, & an open floor plan perfectly crafted to maximize its idyllic lakefront setting. Membership to the Canoe Brook Lake Assoc. provides access to 4 pristine, meticulously maintained beaches, ensuring year-round recreation & serenity just steps from your door. As you step inside, you'll be captivated by the newly refinished hardwood floors & the freshly painted interiors. The main level boasts a spacious living room with gleaming hardwood floors, flowing into a formal dining room w/spectacular lake views. The heart of the home is the beautifully appointed kitchen, complete with a magnificent island, ample counter space, and a cozy dining nook. Sliding doors lead to an expansive deck where you can savor outdoor dining while basking in breathtaking sunsets over the water. Adjacent to the kitchen, is an inviting room with a fireplace offers versatility as a den or playroom. A grand family room with vaulted ceilings, recessed lighting, & hardwood floors. Upstairs, features 4 generously sized bedrooms, including a primary suite with a walk-in closet & an ensuite bath. The walk-out lower level provides ample space to customize to your heart's desire. Outside, your private backyard oasis awaits, with professional landscaping, and patio steps to the water. Launch a boat, take a swim, or simply revel in the beauty of your surroundings.
MlsNumber:	--
ListingId:	24063978

Listing Provided By:	Keller Williams Realty, original listing
Phone:	(203) 536-2626
Office Phone:	(203) 429-4020
Agent Name:	Kristin Egmont
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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