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30 Mechanic Street
Provincetown, MA 02657
$2,150,000
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
1536
Property Description
Welcome to 30 Mechanic Street in Provincetown's West End, located just 2 blocks from Commercial Street. Filled with natural light all day through, this 2-family home is designed to function equally as a single-family home, making it perfect for hosting guests or setting up a home office with its versatile spaces. The exterior of the home is Ranch in style, while the interior is a surprise boasting a more contemporary open design. As you enter the home, you step onto the primary living level, which includes an open layout with the kitchen, dining room, and living room flowing into each other while maintaining distinct spaces. The living room and dining room feature gleaming pine floors and plenty of natural light from three walls of glass. The living room impresses with a floor-to-ceiling masonry, wood-burning fireplace, soaring cathedral ceilings, and pine wainscoting. The dining area is spacious enough to accommodate 8 people. A sizable deck off the living room overlooks the charming Cottage Street area and leads to a private stoned patio surrounded by lush landscaping. Kitchen is well-equipped with stainless steel appliances, ample counter space, and a breakfast bar, al complemented by granite, stainless, along with tile floors with radiant heat. On this main level, you'll find the primary bedroom with wood floors and a sizable closet. Also on this level there is a full bath featuring stone pebbled floors, and tile shower with bathtub. Heading downstairs, guests will discover the second bedroom, generous in size, and provides split AC heat and two custom closets. On this level is an entrance leading to the second unit/ apartment, spacious and bright, and perfect for guests or occasional Airbnb rentals. This studio apartment includes a kitchenette, heated floors, split AC, and patio accessed through glass sliders.30 Mechanic Street has been meticulously maintained and thoughtfully designed to offer both socializing spaces and privacy for you and your guests across its separate levels. (Annual Sewer betterment: $742.50 plus 2.8% interest. ~10 years left on betterment.)
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1960
MLS Number
22401695
Location
Address
30 Mechanic Street
City
Provincetown
State
MA
Zip Code
02657
County
BARNSTABLE
Listing
Provider
Gibson Sotheby's International Realty, original listing
Name
Gibson Sotheby's International Realty
Phone
(508) 896-5000
Office Name
Gibson Sotheby's International Realty
Office Phone
(508) 487-2430
Agent Name
Mike Minore

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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.