I know, you think we say everything is a deal--well some of us do. Then again, there are "deals" out there in Northern Neck real estate right now and depending on what your needs are, one of these might be a fit. You might also note that both sellers are motivated.
Currently we at River & Rural Realty have two waterfront homes that are priced in the $260,000s. One is priced at $269,000 and the other at $265,000. The appeal of one is completely different from the appeal of the other. Here is some background so you can see if either of these works for you. (And please realize I know that you generally come to this web site for the statistical information, but if just a handful of readers find one of these listings appropriate....that's a good thing. There are always statistics and always more to come, but not always listing information with lots of background to review.)
$269,000. (MLS number 95349) This home is located outside of Montross, actually it's 139 Jenkins Point Road. The assessed value on the property is $420,000. To be totally truthful, 2.5 acres of the overall 5 acres was sold to the next door neighbor (and 5 acres is included in that assessment). They purchased this acreage in order to make sure it wasn't sold and developed. By selling the 2.5 acres off to the neighbor, the remaining property with the house has 2.5 acres, which is waterfront (270 feet of frontage) and a potential buyer lost 2.5 acres of field to care for or mow. Not a big loss. Let's say that 2.5 acres that was sold affects the assessment by $40,000. I don't know if that is a good number or a bad number since that type of land isn't selling and it really doesn't change in any major way what an appraiser would value the property that includes the home. That brings us down to $380,000. So in reality this property even without those 2.5 acres that have been sold, is priced more than $100,000 below assessment.
The home was built in 1988. It was built by a couple who had come from Europe and had spent many many months on a sailboat before settling here. (He became the first winemaker at Ingleside, being a chemist with winemaking background, and he, Jacques Recht, put Ingleside on the map in terms of excellent wines.) The house was a totally logical progression for them. It has a vast open space (the core of the house) which includes the sweep of the kitchen to dining to living to an office. It is 2300 square feet. Although it has only two bedrooms, each with a private bath, the office could easily be changed over to another bedroom (might involve some septic work). Keep in mind too, that there's room to build a garage that could probably have a garage apartment if this home wasn't quite enough room for all your visitors.
In its heyday there was an above ground pool that was flush to the extensive deck. It was an absolute paradise to climb down into the pool and be surrounded by woods while overlooking the little inlet off the Nomini. Those days are gone. The pool is gone. The deck needs work, but the essence of this beautiful home is waiting for the "right person." I'm not going to pretend that it doesn't need work. It does. But with the right person and the right efforts this house easily becomes a $400,000 showplace....it will take vision.
There are quiet misty mornings when the great blue heron takes his place on an old tree fallen into the creek and keeps you company as you have a cup of coffee and watch the filtered light become more and more present as the sun comes up.
There is an outbuilding which may or may not be worth someone's while. There is a pier that needs work. (The neighbor further up this inlet has a small fishing boat on a lift and gets in and out okay.) The house is livable, but for most they would upgrade the kitchen and the bathrooms. I do think that for a family or a couple who are looking for a sort of old-world getaway where the home has character and not in the way some people say that....true character....not a box. Something that can be totally inspiring....well here it is. Yes, this is my listing. Yes, I have seen this house when it was inspiring. Yes, I hope to find the person who will take the time and effort to put it back to pristine condition. (The price has dropped $30,000 since the 1st of June. That should tell you something.)
$265,000 (MLS number 95471) The second property is completely different. A 2.7 acre lot surrounds this beautiful builder's home that has never been lived in. Tucked at the end of a cove and located just outside of Callao, it has waterfront and also has quick access to town.
The kitchen is gorgeous with stainless and with granite. Bamboo floors almost everywhere (carpet in the bedrooms and tile in the baths). There's a good-sized living area and dining area all assocatied with the kitchen....so yes, a very nice great room. A huge master bath with all the best materials is located off the master bedroom that has a large walk in closet.
The floor plan is great, with the two other bedrooms across the house. The second bath is at that end with these two bedrooms--these bedrooms also have walk in closets. There's a utility room with plenty of room for the washer/dryer and it's in the perfect location....just off the kitchen and just as you would walk in to or out of the two car garage.
At present there isn't a pier. There could be. The water depth would be appropriate for canoes and kayaks and perhaps small outboards. Just a beautiful home. A real convenient setting. High end finishes and appliances. Conditioned crawl. Ready to go. Ready for you if this property fits your needs. Please come and take a look...you won't be disappointed.
Thank you for reading. I will be on to statistics later this week. Obviously we are close to the end of the month and things are hopping....meaning real estate is selling. The best year yet since the 2008 banking debacle. Thankfully things are moving!!
Kathryn Murray, Principal Broker, 804-450-4442 cell