Foreclosure for Sale at 229 Lansdowne Street, Westport, CT 06880

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Foreclosure: 229 Lansdowne Street
Westport, CT 06880

Jolanta Rojek with eXp Realty, original listing - (866) 828-3951

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Property Details

List Price:	$1,395,000
Beds:	2
Baths:	Full: 2, ½: 1
Status:	Active
SqFt:	2050 Square Feet
Agency:	eXp Realty
Agency Phone:	(866) 828-3951

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Description/Comments

Lot Size:	0 sqft
Garage:	Garage
Property Type:	Residential-Condominium
Year Built:	1985
Notes:	This spacious 2,050sf condo offers comfortable living in the heart of Westport, situated within a well-maintained gated community. Built in 1985, this 2-bedroom, 2.1-bathroom unit has been thoughtfully updated with modern touches while retaining its cozy charm. The home features engineered hardwood flooring throughout, lending a sleek and contemporary feel. The new custom kitchen is a standout, boasting elegant white cabinets, durable quartz countertops, and top-of-the-line stainless steel appliances. A fireplace in the kitchen adds warmth and ambiance, making it a perfect space for both casual meals and entertaining. The living room is a bright, welcoming space with skylights that flood the room with natural light. A second fireplace creates a cozy atmosphere, and the built-in wet bar is perfect for hosting guests. The adjacent sunroom, just off the living room, opens onto a private patio, providing a peaceful space for relaxation or outdoor dining. The primary suite is conveniently located on the first floor, offering privacy and ease of access. It includes a spacious en-suite bathroom and ample closet space. The gated community offers resort-style amenities, including a beautifully maintained inground pool, tennis and pickleball courts, and lush common grounds. This home provides the ideal balance of privacy, luxury, and convenience, all within a short drive to downtown Westport and nearby beaches.
MlsNumber:	--
ListingId:	24050824

Listing Provided By:	eXp Realty, original listing
Phone:	(860) 230-1879
Office Phone:	(866) 828-3951
Agent Name:	Jolanta Rojek
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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