Home for Sale at JERMAINE ROAD, WALDORF, MD 20603

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Jermaine Road
Waldorf, MD 20603

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Property Details

List Price:	$754,000
Beds:	4
Baths:	3
Status:	Active
SqFt:	3500
Agency:	Fairfax Realty Select

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	--
Notes:	Attention builders, developers, and dream home buyers seeking sought-after Waldorf, MD areaâ€”wooded 4-acre BUILDABLE 2-Lots (buyers must do their due diligence). A lot has direct entry access from Jermaine Place. Close to local shopping centers, metro accessible, Route 228 & 301. Public Water and Sewer Access on Davis Rd. Lot is sold AS-IS. TO BE BUILT. NEW CONSTRUCTION. Beautiful lot co-marketed with Caruso Homes. This model is the ----DEERFIELD ----Buyer may choose any of Caruso's other models that will fit on the lot, but prices will vary. The price shown includes the Base House Price, The Lot, and the Estimated Lot Finishing Cost Only. ------ To schedule an appointment with Caruso Homes to discuss further and get the details of the building process, etc. Four-acre lots are separated into two lots. Tax ID numbers (06050816 and 06050484) are 2.94 acres, and the other is 1.04<br /> Close to local shopping centers, metro accessible, Route 228 & 301. 4 acres lot has direct entry access from Jermaine Place. Public Water and Sewer access on Davis Rd. Lot is sold AS-IS. BUYERS ALERT! New construction to perm home loans are AVAILABLE! Conventional 5% down, VA no downpayment, One-time close, and construction financing.
MlsNumber:	MDCH2032006

Listing Provided By:	Fairfax Realty Select, original listing
Name:	Fairfax Realty Select
Phone:	(703) 533-8660
Office Name:	Fairfax Realty Premier
Office Phone:	(301) 439-9500
Agent Name:	Joya Johnson
Disclaimer:	Copyright Â© 2024 Bright MLS. 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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