Home for Sale at 1047 Corolla Drive, Corolla, NC 27927

1047 Corolla Drive
Corolla, NC 27927

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Property Details

List Price:	$1,425,000
Beds:	8
Baths:	7
Status:	Active
SqFt:	4333
Agency:	Twiddy & Company of Duck, Inc.

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	--
Notes:	OVER $100,000 GROSS REVENUES for FOUR CONSECUTIVE YEARS! "Stella Maris of Corolla," a true star of the sea, is affectionately given this name by the owners who have thoroughly loved the rewards of family visits and exceptional investment performance through ownership of this lovely home. Sadly, ages and stages of life call them to move on to the next chapters ahead. Centrally located in the Whalehead community, just a 4-MINUTE WALK TO THE OCEANFRONT, nestled amid mature trees on a one-half-acre private lot, this expansive 8 bedroom, 5 bath home offers over 4300 sq ft of living space, perfect for gracious gatherings with family and friends. The top floor features a spacious open floor plan with a private ENSUITE and WRAPAROUND DECKS OVERLOOKING A MASSIVE PRIVATE POOL. Enjoy STUNNING OCEAN VIEWS and SUNRISES OVER THE ATLANTIC or RELAX with an enchanting evening of stargazing from the rooftop shipâ€™s watch deck. The second floor offers an office, TWO ensuites, and TWO additional bedrooms that share a bathroom. The ground floor boasts THREE bedrooms, entertainment areas, and a spacious rec room with a pool table, sitting area, and kitchenette that includes a full-size refrigerator and icemaker. Outside, a playground of fun awaits with a large private pool and Tiki Bar, sand volleyball court and horseshoes, and hot tub. Conveniently located near the Historic Corolla Village and Park, guests can easily WALK OR BIKE to explore the charming village and its historic sites. The iconic Currituck Lighthouse is also nearby, offering breathtaking views of the coast. Don't forget to visit the Corolla Wild Horses, a unique and enchanting sight that adds to the allure of this coastal retreat. With wide hallways and gracious stairways, this home warmly welcomes large groups or gently embraces you for a quiet visit with single-floor living. Donâ€™t miss this opportunity to invest in an exquisite property, a true star of the sea, "Stella Maris"! Please see the associated documents for the stellar rental performance.
MlsNumber:	125224

Listing Provided By:	Twiddy & Company of Duck, Inc., original listing
Name:	Twiddy & Company of Duck, Inc.
Phone:	(252) 202-8311
Office Name:	Twiddy and Co. - Duck
Office Phone:	(252) 457-1600
Agent Name:	Ray Meiggs
Disclaimer:	Copyright Â© 2024 Outer Banks Association of Realtors Â®. 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.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

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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or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

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