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53 Douglass Ave
Bernardsville Boro, NJ 07924
$1,899,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
Magnificent custom ranch with open, airy floor plan featuring current modern renovations. Eight acres of peaceful existence is experienced through the two-acre pond, lighted gazebo, heated inground pool and spa (with new heaters), cabana with private changing rooms, partial kitchen, expansive views and Zen-Garden with authentic Japanese lanterns and copper downspouts. The new custom kitchen with wood floors, granite counters, stainless steel appliances, built-in coffee maker, wine refrigerator, separate baker's kitchen and breakfast area, opens to a formal dining room with a pass-through wood-burning fireplace, custom built-ins and vaulted wood ceiling with skylight. The formal step-down living room with the pass-through fireplace overlooks the pond. The extraordinary great room is drenched in natural sunlight, with architectural wood ceilings and exposed beams, skylights, floor-to-ceiling windows with Shoji screens, wood flooring with inlay, custom built-in display cabinets overlooking stunning views from every angle. The primary suite offers a sitting room, bedroom, private sunroom, his/her baths, and walk-in closets. A spiral staircase leads to the second level with custom loft area, library, and gym all with tons of sunlight and views of the grounds in the front and the rear. Radiant and forced hot air heat, multi-zone central air, underground sprinkler system, full house generator, five car garages, fenced-in dog run. This home needs to be seen and experienced.
Property Information
Lot Size
8 acre(s) square ft
Property Type
Residential
Year Built
1970
MLS Number
3891277
Location
Address
53 Douglass Ave
City
Bernardsville Boro
State
NJ
Zip Code
07924
County
SOMERSET
Listing
Provider
Kienlen Lattmann Sotheby's International Realty, original listing
Name
Kienlen Lattmann Sotheby's International Realty
Phone
(908) 696-8600
Office Name
KL SOTHEBY'S INT'L. REALTY
Office Phone
(973) 543-3500
Agent Name
LOU ANN FELLERS

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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.