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905 Tidewater
Rio Grande, NJ 08242
$573,900
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2140
Property Description
The Legacy at Cape May, the premier 55+ community in Rio Grande, welcomes you home to the Shore. Situated adjacent to the clubhouse this spacious three bedroom, two and a half bath, open floor plan townhome, boasts 2140 square feet. Greet your guests in the foyer and walk them down the hall into the great room where the dining, living and naturally lit sunroom awaits you. The cathedral ceilings will draw your attention to the second floor balcony with its spindled handrail overlooking the great room. The kitchen features white cabinetry, Corian countertops, full extension drawer slides and slide out trays throughout, stainless steel appliances, and undercabinet LED lighting. A large laundry closet is within the kitchen and holds a stacked full size HE washer and steam dryer as well as a utility sink and cabinet. Across the hall from the kitchen is the downstairs powder room which has been updated with wainscoting and wallpaper. The spacious first floor master suite has a bathroom that features a large tile shower, double vanity and walk-in closet. French doors off the sunroom lead you to the wrap around, extended patio. This coveted outdoor area is very private with mature trees at the back - perfect for barbecuing and entertaining all summer long. At the top of the stairs is the large loft area ideal for relaxing with friends and family or use it as an open office space. Both additional bedrooms on this floor have plenty of closet space with a hall bathroom that has a tiled tub/shower and large vanity with a sink. The mechanical room which holds the HVAC system and 50-gallon, insulated water heater with an expansion tank is located on the second floor and has additional shelving & storage space. The updates to this desirable home include 3/4 inch solid oak T&G flooring, custom wainscoting in the hallway and stairs, high hat dimmable lighting throughout, 52" ceiling fans in all rooms, upgraded garbage disposal & new epoxy coating in the two-car garage. Use the garage for your own private workshop with ample room for storage or as a bonus entertaining room. The current owner built in 128 sf of storage in the ceiling of the garage and has a wall mounted heater and blower in the workshop. Owners at the Legacy have full use of the clubhouse and all its amenities, including a fitness room, pool with patio, craft room, billiards table and game room. Outside of the clubhouse is a bocce ball and shuffleboard court. The Legacy, a private community tucked away from the hustle and bustle, is conveniently located near the sought after beaches of Cape May, Wildwood and Stone Harbor as well as to the shopping areas in Rio Grande and the hospital in Cape May Court House. Don't hesitate to make Unit 905 in The Legacy your Shore Home!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2011
MLS Number
241179
Location
Address
905 Tidewater
City
Rio Grande
State
NJ
Zip Code
08242
County
CAPE MAY
Listing
Provider
HomeStead Real Estate Company, original listing
Name
HomeStead Real Estate Company
Phone
(609) 884-1888
Office Name
HOMESTEAD REAL ESTATE CO. INC.
Office Phone
(609) 884-1888
Agent Name
Ryan O'Keefe

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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.