Home for Sale at 4401 S Virginia Dare Trail, Nags Head, NC 27959

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4401 S Virginia Dare Trail
Nags Head, NC 27959

Michael Siers with Howard Hanna Outer Banks Realty, original listing - (252) 679-3111

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Property Details

List Price:	$2,577,888
Beds:	9
Baths:	Full: 6
Status:	Active
SqFt:	5583 Square Feet
Agency:	Howard Hanna Outer Banks Realty
Agency Phone:	(252) 679-3111

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Description/Comments

Lot Size:	18,000 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	--
Notes:	Hawk's Nest North and South Nestled on the wide, iconic beaches in the heart of Nags Head, Hawk's Nest offers everything you need for a Beach Home. Primary, rental or both This classic Old Nags Head-style beach house combines timeless charm with modern comforts. Perched on a dune with breathtaking ocean views, you'll enjoy sights of the waves from the living area and the top-level en suite. The duplex features a traditional floor plan with the main living area situated on the mid-level. Unwind in the hot tub while taking in ocean views, just steps from your family. The north side of this duplex boasts custom-tiled bathrooms, new living room furniture, and flat-screen TVs in every room. Step out onto the private en suite deck for a serene space to relax, soak in the views, and listen to the waves. Gather the family for a game of pool in the rec room for some fun together. Enjoy the large oceanfront sun porch with ample seating and a spacious hot tub, a private covered deck off the en suite, or the roadside sun porch. Your private walkway leads to a dune-top gazebo, giving you direct access to the beach and a peaceful spot to soak up the coastal breeze. Hawk's Nest South, the other side of the duplex, to accommodate more than the 10-person maximum occupancy. With comparable amenities. Rent both sides together for a spacious retreat or separately for smaller gatherings. Live on one side rent the other. This property is more than a vacation rental; it’s a fantastic investment opportunity!
MlsNumber:	--
ListingId:	127687

Listing Provided By:	Howard Hanna Outer Banks Realty, original listing
Phone:	(252) 489-3861
Office Phone:	(252) 679-3111
Agent Name:	Michael Siers
Disclaimer:	Copyright © 2024 Outer Banks Association of Realtors®. 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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Lynn Bulman

Howard Hanna - Outer Banks Realty

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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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