Home for Sale at 112 John Hurst Drive, Swansboro, NC 28584

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112 John Hurst Drive
Swansboro, NC 28584

Carla Buckhold with Bogue Banks Realty, Inc, original listing - (910) 325-0868

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Property Details

List Price:	$2,500,000
Beds:	4
Baths:	Full: 4, ½: 2
Status:	Active
SqFt:	5911 Square Feet
Agency:	Bogue Banks Realty, Inc
Agency Phone:	(910) 325-0868

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Description/Comments

Lot Size:	0 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1996
Notes:	This is truly DEEP water property ! Fantastic home with lots of renovations that the seller will warranty as if new construction for 11 months Investor said this must sell , so this is a great opportunity to obtain a great property below cost! Estate Grande brick home on the ICWW Waterfront . This 6000 HSF majestic home has been meticulously remodeled. Featuring 4 bedrooms , 4 baths and two half baths . The main living area is open with an eat in kitchen . There is a luxurious dining room on this floor , a parlor , library, office and laundry . The first floor was grandfathered and plumbed , wired , heated and cooled but never finished before according to tax records . This space makes up for the additional 1738 hsf . It has 3 rooms, a full bath ,laundry area . The top floor and last elevator stop has an expansive master suite with reading area , master en suite with soaking tub and walk-in tiled showers. The views look out the inlet between Emerald Isle and Hammock Beach , there is nothing like it ! There are 3 additional bedrooms . One has an en suite and the other two have their own vanity sink area and share a shower and toilet area . All showers are walk-in and tiled . The lot has lovely landscaping , and a huge dock that allows for more slips than are now permittable . Put in the size lifts you want ! Deep water . Room for a pool. All new Marvin windows installed . Hardwood flooring and marble on main floor. There are Many extras to this home . House is not quite complete but showings can be made with listing agent in attendance . He is making this a great home !
MlsNumber:	--
ListingId:	100479093

Listing Provided By:	Bogue Banks Realty, Inc, original listing
Phone:	(910) 325-0868
Office Phone:	(910) 325-0868
Agent Name:	Carla Buckhold
Disclaimer:	Copyright © 2024 Hive MLS / Carteret County 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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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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