Home for Sale at 391 Steamboat Road, Irvington, VA 22480

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391 Steamboat Road
Irvington, VA 22480

Emily Carter with Jim & Pat Carter R. E.. Inc., original listing - (804) 435-3131

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Property Details

List Price:	$1,950,000
Beds:	4
Baths:	Full: 3, ½: 1
Status:	Active
SqFt:	3460 Square Feet
Agency:	Jim & Pat Carter R. E.. Inc.
Agency Phone:	(804) 435-3131

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Description/Comments

Lot Size:	0 sqft
Property Type:	Residential-Single Family Residence
Year Built:	1900
Notes:	On Irvington's Carters Creek, Captain's Quarters sits at the end of a charming lane - Steamboat Road, the most prominent neighborhood in the Northern Neck. Built in the late 19th century, this historic landmark blends Italianate elements with Victorian-era details. It features a more recent spacious raised terrace framed by a low brick wall offering sweeping water views. Off the circular drive, a brick walk leads to the front porch. The entry hall looks through the living room to the sparkling Carters Creek. The rich patina of wood floors exudes a timeless authenticity. The bright and airy living room welcomes you to enjoy the view from this creekfront knoll. A wall of bookshelves adds warmth, while the waterfront wall of glass embraces the coastal scene. The cozy study with a masonry fireplace is a quiet retreat. Bathed in light, the corner dining room features a bowed window. The bright country kitchen with an oversized island is ideal for entertaining. The creekfront first-floor primary bedroom suite includes a dressing room, bath, and walk-in closet. The upper level has three corner bedrooms and a bath. This in-town property boasts 155 feet of shoreline, plus a private deep-water dock with a rarely offered boathouse. The house is a short stroll to the town center. Occupied by the same family for 55 years, this legacy home is now available for a new owner to enjoy the simple coastal life this classic home and community embraces. This home beckons as a haven of joy and beauty, awaiting the discerning eye to make it an incredible gathering place for generations.
MlsNumber:	--
ListingId:	116292

Listing Provided By:	Jim & Pat Carter R. E.. Inc., original listing
Phone:	(804) 436-4949
Office Phone:	(804) 435-3131
Agent Name:	Emily Carter
Disclaimer:	Copyright © 2024 Northern Neck Association of Realtors. 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