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96 N Commonwealth
Strathmere, NJ 08248
$1,675,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
2300
Property Description
This Modern Coastal home unites the essence of coastal design by creating a carefree vibe with contemporary fixtures that meet natural textures, allowing the sweeping ocean views to take center stage. Situated prominently in the "Point" Section of Strathmere, you will feel at home in this 4 bedroom, 2.5 bathroom Single Family Home. Experience the Lure of living by the Sea when you enter through the first floor. You are greeted by floor-to-ceiling books, your personal library for a season of beach material. This floor hosts a family room, a full-size laundry room with built-in cabinetry, a bedroom with a half bathroom, and a storage room. Upstairs is home to the great room, open to the kitchen, dining area, and living room. This area was designed to offer warmth in the winter and freshness and tranquility in the summer. The kitchen's combination of darker tones and lighter finishes balance the natural light that enters through the sliding glass doors. Off this room, you will find a large deck, a wonderful extension of this area's entertaining space. Here, you can dine al fresco and take in the sounds and smells of the Ocean. This level also offers two additional bedrooms, a south deck, and a full bathroom. The primary suite is situated on a private floor, with a custom tiled bathroom; this space provides the ultimate retreat after a long day at the beach. Outside, there is an outdoor patio, a fenced-in yard, a large enclosed outside shower, a matching rear storage shed with a built-in workshop, and off-street parking for multiple cars. The coveted "Point" Beach is mere steps from the home, making 96 N Commonwealth a beach home like no other.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1963
MLS Number
232939
Location
Address
96 N Commonwealth
City
Strathmere
State
NJ
Zip Code
08248
County
CAPE MAY
Listing
Provider
OCEAN CITY REALTY, original listing
Name
OCEAN CITY REALTY
Phone
399-8200
Office Name
BERKSHIRE HATHAWAY HS FOX & ROACH oc109
Office Phone
(609) 399-8200
Agent Name
Dorothy Phillips

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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.