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ALTISOURCE ANNOUNCES WIND DOWN AND CLOSURE OF OWNERS.COM TO INCREASE FOCUS ON CORE BUSINESSES

Luxembourg, October 8, 2019 - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it decided to wind down and close Owners.com’s operations. The Company believes that closing Owners.com supports its simplification strategy, eliminates the cash burn associated with this earlier stage business, and increases focus on the core real estate and mortgage businesses.

"Owners.com has been making encouraging progress in demonstrating that a better consumer real estate model based on technology and service may be viable," said William B. Shepro, Altisource’s Chairman and Chief Executive Officer. Shepro further commented, "However, as we continue to work to simplify Altisource and focus on our larger opportunities, we concluded that closing Owners.com is in Altisource’s best interests given the time horizon and level of additional investments needed in order for Owners.com to operate independently. I am proud of the very talented and dedicated Owners.com team and want to thank them for their contributions."
ACTIVE
202 days on Owners.com
5733 Pecks Point Rd
EASTON, MD 21601
9 Beds
11 Baths
9,966 ft2
$6,999,500
Owners.com Estimate:
Estimated Payment:$26,283/mo

One of the finest estates ever offered on the Eastern Shore, Tred Avon Manor offers the very best of classic Eastern Shore Living

The park like grounds consist of 16 + acres on a southerly facing peninsula lot with deep water, and up to 1,200 +/- ft of protected shoreline on the Tred Avon River. Improvements to the main parcel include a 9000 +/- square foot manor house that is a stunning example of modern construction while utilizing the very best of classic architecture. Features include living spaces suitable for both formal and casual living. There is a well-equipped chef~s kitchen with commercial appliances, and a full butler~s pantry. The gorgeous master suite has double walk in closets, fireplace, and a private office. The dining room is generously sized, and opens into the sunroom for entertaining. Other improvements include a proper, full size, 3 bedroom guest residence, large pool with pool house, pier with deep water slips, and even a heated in ground duck blind for waterfowl hunting. Additional, contiguous waterfront home available to the buyer of the main residence that includes a well maintained home, pier and waterside pool.

Property type
Residential
Structure
Three or More Stories, Story - Main, Story - Upper 1, Story - Upper 2
Year built
1800
Parking
Driveway - Circular
Price/Sqft
$702
MLS #
MDTA135128
Lot Size
703058 sqft
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My NotesiThis is a place for you to write your thoughts and notes about this home. Only you will be able to see the notes.

My Home Features

Rooms

Bedrooms: 9
Virtual Tour: virtual tour | Room Types: Living Room, Dining Room, Bedroom(s) - Master, Sitting Room, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Den, Library, Foyer, Laundry, Mudroom, #OTHER, Study / Office, Storage Room, Bedroom 6, Bonus, Additional Bedroom | Basement: true, Unfinished

Bathrooms

# of Full Bathrooms: 8
# of Half Bathrooms: 3

Interior

Features: Bar, Built-in(s), Butlers Pantry, Cedar Closet(s), Ceiling - Fan(s), Chair Rail, Combination Kitchen/Living, Crown Moldings, Double/Dual Staircase, Family Room Off Kitchen, Floor Plan - Traditional, Lighting - Recessed, Wet/Dry Bar

Exterior

Features: Exterior Lighting, Outbuilding(s), Waterfront - Private Beach, Above Grade, Below Grade | Pool: In Ground

Building

Property Types: Residential | Year Built: 1800 | Structure: Three or More Stories, Story - Main, Story - Upper 1, Story - Upper 2 | Architecture: Manor, Detached | Floors: Carpet, Wood

Garage & Parking

Parking: Driveway - Circular | Garage: true

Lot

Lot Dimensions: 0.00 x 0.00 | Lot size: 16.14 acres | Lot size: 703058 sqft | Lot Features: Landscaping, Partly Wooded, Private, Rip-Rapped, Secluded, Wooded | Zoning: R

Location

County: TALBOT-MD | Subdivision: EASTON | Directions: Rt 33, turn on Rt 329, turn on Hopkins Neck Rd, follow to Pecks Point Rd, house is #5733, Tred Avon Manor | MLS #: MDTA135128

Appliances

Appliances: Commercial Range, Dishwasher, Disposal, Dryer, Exhaust Fan, Ice Maker, Water Heater - Flash / On-demand, Microwave, Oven - Dual, Oven - Wall, Gas Oven / Range, Range Hood, Refrigerator, Stainless Steel Appliances, Washing Machine, Water Heater

Heating & Cooling

Air Conditioning: Electric, Central Air | Heating: Oil, Forced Air | Fireplace: true, 4, Mantel(s)

Utilities & Security

Sewer Service: Septic Exists | Water Source: Private/Community Water

Accessibility

Accessibility: #NONE

School

School District: TALBOT COUNTY PUBLIC SCHOOLS

Owners.com Estimated Value

We calculate the Owners.com Estimate by analyzing sales for nearby similar properties. We use the best data sources, including MLS and county records to generate insights into the property value. You can even create your own estimate by selecting comparable sold listings.

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Source: County(Public) Records

School Information

Property History & Valuation

Local Insights

Listing provided by: Chuck V Mangold Jr. 

Listing courtesy of: Benson & Mangold, LLC 

Bright MLS

Tools for buyers

Data provided by: Bright MLS
Last detected update: September 26, 2019 01:33PM EST ~ Verified on November 04, 2019 08:32PM EST

Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
All information provided is deemed reliable but is not guaranteed and should be independently verified.

Note: Estimated payment calculations assume 20% down payment with loan terms of 3.86% fixed APR for 30 years.

Property is available to all persons, regardless of race, color, religion, sex, handicap, familial status, or national origin.
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