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8 Morrill Street
Winthrop, ME 04364
$385,000
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2739
Property Description
From the moment you enter this historic home, you feel the warmth and classic character of a 1865 Greek revival. Wrapped in beautiful stone perennial flower gardens and a delightful four-color paint scheme, this home has been lovingly cared for and cherished by one family for over 20 years. This is just the second time on the market in 75 years. A rare find of original woodwork, crown molding, tin ceilings, stained glass, oak, maple, and walnut flooring with intricate parquet in much of the home. A glassed-in porch with an immaculate brick fireplace means you can spend time outside in any weather. The first floor offers an updated kitchen with granite countertops, hardwood cabinets, and a walk-in pantry. Also, an elegant dining room, a double living room with built-ins, a cozy wood stove, pocket doors, floor to ceiling windows, a first floor bedroom, full bath and laundry area. A grand staircase brings you to the bright primary bedroom with a fireplace, the main bath with clawfoot tub, two additional bedrooms, a large office and access to the second floor of the barn. Step off the back porch onto a quiet patio and fire pit where you can overlook the lake, hear the loons and watch the eagles. The yard is large enough to provide room to play and features a well-established vegetable and herb garden. Yet you are walking distance to everything Winthrop has to offer. The library, beach, boat launch, Norcross Point, restaurants, well ranked schools, playgrounds, and a brand-new athletic complex. Winthrop is a growing community with a bustling down town, many thriving small businesses, regular community events including parades; craft fairs; art shows; vintage markets and much more. The homes barn has parking, a large workshop with its own wood stove and two stories of storage all topped with a cupola. Connecting the home to the barn is convenient entry way, great for hanging coats and kicking off snow boots. You must see this home to appreciate all it has to offer.
Property Information
Lot Size
15,246 sqft square ft
Property Type
Residential
Year Built
1870
MLS Number
1579892
Location
Address
8 Morrill Street
City
Winthrop
State
ME
Zip Code
04364
County
KENNEBEC
Listing
Provider
Better Homes and Gardens-The Masiello Group, original listing
Name
Better Homes and Gardens-The Masiello Group
Phone
(800) 741-1540
Office Name
Augusta, Maine
Office Phone
(207) 623-4182
Agent Name
Taylor Tarbox

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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.

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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.