Home for Sale at 63 Ridgecrest Drive, Ridgefield, CT 06877

63 Ridgecrest Drive
Ridgefield, CT 06877

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Property Details

List Price:	$1,249,000
Beds:	4
Baths:	3
Status:	Active
SqFt:	3382
Agency:	Keller Williams Realty

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Description/Comments

Lot Size:	2 acre(s)
Property Type:	Residential
Year Built:	1986
Notes:	This wonderful Center Hall Colonial in Stonecrest Estates is on a Cul de Sac in a desirable neighborhood that is great for walking, biking or even watching a horse and rider trot by. Five minutes to town, The ACT Theater, the Rec Center. Five minutes to Pierrepont State Park and Lake for Kayaking and Hiking. This home has 4 finished levels of living space and an open floorplan with Hardwood floors on the Main and Upper level. The spacious kitchen has a large Island with seating, custom cabinetry, granite counters, a wet bar area with additional sink and beverage frig. The kitchen is also equipped with a pot filler, double ovens, gas cooktop with hood above. The dining room is bright and has access out to the deck with retractable awning. The Livingroom is large and bright with a bay window facing West for Sunsets. The Family Rm with Fireplace has a gas connection in place ready for a gas insert to be installed. The half bath on this level has been updated. Custom moldings, and trim have been added by the current owners in the family room, stairwell and Rec Room. 4 nice sized bedrooms are on the upper level -Custom Carpeting was added. The finished 4th level makes a great office space/media room or guest quarters- built in desks, shelving, sink and small frig. The expansive lower level is great space that opens out to a flat yard with patio area and fire pit. No homes behind this one. The shed has electricity-charging yard tools. Generator and Tesla ready garage.
MlsNumber:	24021411

Listing Provided By:	Keller Williams Realty, original listing
Name:	Keller Williams Realty
Phone:	(203) 438-9494
Office Name:	Keller Williams Realty
Office Phone:	(203) 438-9494
Agent Name:	Lori Egan
Disclaimer:	Copyright Â© 2024 SmartMLS, 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