Home for Sale at 221 Edwin Street, Frederick, MD 21702

221 Edwin Street
Frederick, MD 21702

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Property Details

List Price:	$469,990
Beds:	3
Baths:	3
Status:	Active
SqFt:	2339
Agency:	NVR, Inc.

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	--
Notes:	The Schubert, at the largest of the Composer II series homes, offers the space and customizing details of single-family living with the convenience of a townhome. Enter on the lower level through the foyer or the 2-car front garage. A finished rec room is located in the rear of the home along with a backyard. On the main living level, you're greeted by an enormous and airy kitchen with a huge island perfect for entertaining. The dining room provides space for a more formal meal while the great room is perfect for movie night evenings at home. Up a flight of stairs designed to be elegant and functional, the upper level boasts three bedrooms, two baths, and a full sized 2nd floor laundry with extra shelf space and an optional laundry tub. No need to worry about storage space - generous closets abound in both bedrooms. The Owner's Bedroom is a private retreat accented with an optional tray ceiling and featuring an enormous walk-in closet. The Owner's Bath boasts a soaking tub and separate shower with seat and a dual vanity for the ultimate in convenience. Explore Belle Air! New garage townhomes only 1 mile to major commuter routes and walkable to parks, restaurants, and downtown. ... *Prices shown generally refer to the base house and do not include any optional features. Photos and/or drawings of homes may show upgraded landscaping, elevations and optional features and may not represent the lowest-priced homes in the community.
MlsNumber:	10222120152095+61403

Listing Provided By:	NVR, Inc., original listing
Name:	NVR, Inc.
Office Name:	Ryan Homes-WFR
Agent Name:	Belle Air Townhomes
Disclaimer:	Copyright Â© 2024 NVR Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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.

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.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing