Home for Sale at 912 GRAVELLY RUN RD, MC HENRY, MD 21541

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912 Gravelly Run Rd
Mc Henry, MD 21541

Jackie Reinauer with Annapolis Fine Homes, original listing - (888) 536-0216

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Property Details

List Price:	$3,575,000
Beds:	3
Baths:	Full: 1, ½: 1
Status:	Active
SqFt:	--
Agency:	Annapolis Fine Homes
Agency Phone:	(888) 536-0216

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Description/Comments

Lot Size:	178 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	1890
Notes:	Looking for an incredible opportunity to own a spectacular property in McHenry, located within a few short miles of a wonderful variety of amenities. This property will afford the lucky buyer the opportunity to build a lovely community. Nestled in at the end of Gravelly Run Road sits approximately 206 acres of gorgeous property. The owners worked with the county and engineering to create a planned residential development (PRD), with public water and sewer, 34 acres have been developed with a remaining 171 acres to be developed. There are 219 units within the Planned Residential Development of which 33 have been approved. This beautiful property of rolling knolls, beautiful vistas and lush trees offers a sense of peace and serenity. This property will afford residents as well as vacationers the opportunity to relax and recharge within nature's bounty. The layout of the land and all its natural beauty offers a high quality of living while being situated in this quiet and picturesque community. The property has a lovely farmhouse originally built in 1890 with the time-honored feature of a Big Red Barn, where current residents hold fun gatherings. Although this property gives the sense of being away from it all, it is centrally located with fabulous offsite amenities, just minutes away in Deep Creek, to enjoy year-round.
MlsNumber:	--
ListingId:	MDGA2003328

Listing Provided By:	Annapolis Fine Homes, original listing
Phone:	(888) 536-0216
Office Phone:	(888) 536-0216
Agent Name:	Jackie Reinauer
Disclaimer:	Copyright © 2024 Long & Foster Real Estate. 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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