Home for Sale at 22 Mill Pond Lane, South Burlington, VT 05403

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22 Mill Pond Lane
South Burlington, VT 05403

Robbi Handy Holmes with BHHS Vermont Realty Group/S Burlington, original listing - (802) 658-5555

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Property Details

List Price:	$1,195,000
Beds:	5
Baths:	Full: 3, ½: 1, ¾: 1
Status:	Active
SqFt:	3175 Square Feet
Agency:	BHHS Vermont Realty Group/S Burlington
Agency Phone:	(802) 658-5555

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Description/Comments

Lot Size:	0 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2016
Notes:	Experience open concept living with high-end, energy-efficient finishes throughout this stunning modern farmhouse-style home in the highly sought-after Oak Creek Neighborhood. The chef's kitchen boasts granite countertops, a large island for food prep, stainless steel appliances, an induction double oven with a vented hood, and a walk-in pantry. The spacious dining area seamlessly flows into a large living room featuring a gas fireplace, built-ins, and a Bose Sound System. Unwind in the cozy sunroom or retreat to your private library/guest room with a 3/4 bath. Upstairs features three bedrooms, a full bath, a laundry room, plus a primary ensuite with a walk-in closet, a bathroom with a shower, and a soaking tub. Designed for functionality, this home offers spacious mudrooms with plenty of hooks and nooks, leading to both the main house and the accessory dwelling unit (ADU). The finished ADU, with a private entrance, includes a full kitchen, pantry, living/dining area, one bedroom, and a full bathroom with a washer and dryer. Additional features include an oversized two-car garage with ample storage and workspace, on-grade walkout basement ensuring plenty of room for all your needs. Exterior features are just as impressive, with a wrap-around deck featuring custom-built solid iron railings and gorgeous easterly views of Camel's Hump. Enjoy sunsets from the rear deck, providing access to an above-ground pool, hot tub, and outdoor shower. Adjacent to 150 acres of Wheeler Park.
MlsNumber:	--
ListingId:	5024430

Listing Provided By:	BHHS Vermont Realty Group/S Burlington, original listing
Phone:	(802) 658-5555
Office Phone:	(802) 658-5555
Agent Name:	Robbi Handy Holmes
Disclaimer:	Copyright © 2024 PrimeMLS. 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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