Salty Way Captains Cove GOlf & Yacht Club Greenbackville, VA 23356
LOT 1195 SECTION 1 SALTY WAY CAPTAIN'S COVE, GREENBACKVILLE, VA 23356
CAPTAIN'S COVE REAL ESTATE AUCTION
LIVE AUCTION DATE August 9th 2008 This is the first of many prime properties to be entered into this large auction event Prime waterfront lot with SouthWest Exposure & Views Direct access to the Atlantic Ocean, yet protected by a canal
If you have wanted waterfront property on the Eastern Shore NOW IS THE TIME TO BUY FOR YOUR PRICE
Comparable Lots Have Sold For Up to $500,000 During the Real Estate Bubble
A little history about Captain's Cove Golf & Yacht Club
This nautical themed community was originally started in 1974 with 4,400 lots on about 2,000 acres featuring over 7-miles of waterfront on the Chincoteague Bay with Intra-Coastal access to the Atlantic Ocean.
The location is ideal located right on the Maryland / Virginia State line with low Accomack County, Virginia property taxes in a world class resort area known as "The Land of Pleasant Living".
Captains Cove is a private restricted community with:
24-Hour uniformed security 365-days a year
Recently renovated golf course, with pro-shop, carts & snack bar
FREE unlimited golf is available to all property owners
Swimming pool & kiddie pool with lifeguards
Playgrounds and parks throughout the community
Championship Tennis Courts
Brand new marina & yacht club community center scheduled to open June 2008
Walking & exercise trails
Private community beachfront on the Chincoteague Bay
56 Miles of private roads owned & maintained by the property owners association
Planned community activities
Financially strong property owners association with a long-term history of no surprises
And much, much more
Property values in Captain's Cove skyrocketed during the real estate bubble increasing in value up to 2,500% since 2000 and now "investors" who "caught" flips are shaking their heads wondering why they paid $150,000.00 to $200,000.00 for a lot because it was on the golf course.
The original developer was "bought out" a few years ago and the new developer has invested millions of dollars into a state of the art golf course and spectacular yacht club / community center overlooking the pristine Chincoteague Bay.
There is new construction all over the community with homes sprouting up like mushrooms in the "old growth" colonial era forest that has never been logged since being settled in the early 1600's.
This auction is designed to bring people back to reality by establishing the "present cash market value" as determined by bidders in an open and competitive marketplace.
Captain's Cove is a community that will always hold its values due to being located on the waterfront in a quiet rural setting, yet is only a few hours from Washington, DC, Baltimore - Annapolis, Philadelphia and is about 5-hours by car from New York City.
A few miles to the South is NASA Goddard Flight Facility at Wallops Island which is home to the worlds first civilian owned commercial spaceport, projected to bring over 10,000 high paying jobs to the area. Wallops Island has the worlds best and most consistent rocket launch record since 1941 and statistically they are not going anywhere soon.
Across the bay is quaint Chincoteague Island Virginia known world wide for it's annual pony round up from Assateauge National Seashore the third week of July. Chincoteague is a quaint little seaside village whose industry has turned from fishing and oysters to tourism and eco-tourism over the past few decades.
Assateague National Seashore is host to over 3-million visitors a year from around the globe who come to enjoy nature at it's finest. The island is a wildlife refuge for every species of bird who migrates from North to South along the Eastern Seaboard and is host to birding festivals and a number of events centered around these fabulous migrations. Families enjoy it's 27-miles of non-commercial ocean beaches which have lifeguards during the Summer season. Fishermen enjoy the 4-wheel drive only area where one can drive to a remote oceanfront location, set-up camp and fish without anyone nearby.
Local amenities include, shopping with major national retailers just a few miles away in Pocomoke City, Maryland offering all the creature comforts American society has to offer. There are a complete array of medical services available within a short drive including a full blown shock trauma center at Peninsula Regional Medical Center & Hospital in Salisbury Maryland.
If you do crave the nightlife and want to be in a wall-to-wall crowd of people, world famous Ocean City Maryland is just 37-miles to the North traveling on un-crowded back country roads. Ocean City is famous for its boardwalk and every type of dining from Thrashers fries to 5-Star eateries and everything in between. The largest nightclub on the East Coast 'Seacrets' with its Jamaican Island theme and 10-acres of non-stop Summer parties is centrally located in Ocean City.
Eastern Shore residents like having these types of activities available but coming home to your own "piece of heaven" is what its all about.
LOCATION - LOCATION - LOCATION Within a 5-hour drive of 50-million people
Lot is 25% larger than average waterfront in the community
Located at the end of a quiet cul de sac
Note location across from the NEW yacht club
AUCTION TERMS This property to be sold at PUBLIC Auction A 10% Buyers Premium will be added to the high bid
ALL BIDDERS MUST REGISTER TO BID or Your bid may not be qualified $5,000.00 Deposit to be applied towards contract price REQUIRED BIDDER DEPOSIT.
A personal or company check will only be accepted if accompanied by a bank letter of guarantee as follows: “We will guarantee payment of checks written on account #_____________ up to $____________for purchases made at your auction sale on _____________________. This letter must be written on bank letterhead and signed by a bank official. No third-party checks will be accepted.
$595 Processing Fee Added to price
A 10% Buyers Premium will be added to the high bid
CLOSING 30-DAYS AFTER AUCTION
Property is sold
AS IS WHERE IS WITH ALL FAULTS AND NO WARRANTY EXPRESSED OR IMPLIED EXCEPT CLEAR TITLE BY DEED
DUE DILIGENCE: ALL BIDDERS ARE ENCOURAGED TO INVESTIGATE EACH PROPERTY FOR SUITABILITY PRIOR TO PLACING A BID What is due diligence? Click here
If you have questions call before you bid 410-957-4786 Toll Free 866-486-SOLD (7653)
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ALL PROPERTY SOLD AS-IS WHERE IS WITH NO WARRANTEE OTHER THAN CLEAR TITLE BY DEED Seller reserves the right to sell at anytime without notice but intends to sell at auction
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