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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
197 days on Owners.com
15798 Lancaster Farm Rd
NEWBURG, MD 20664
4 Beds
3 Baths
3,932 ft2
$739,900
Owners.com Estimate:
Estimated Payment:$2,778/mo

PANORAMIC RIVER VIEWS! This beautiful custom post & beam residence is located on the Wicomico River and offers expansive views from almost every room

As you enter the front door you are greeted by an impressive three-story stone fireplace leading up to a stunning wood planked ceiling. This open concept home was meant for entertaining. The kitchen is designed for people who like to cook and has been totally updated with the latest must haves which include granite counters and newer appliances. It will be a joy to prepare meals as you look out onto the river. Off the kitchen is a bright sunroom that leads to an outside deck and hot tub. The first-floor master suite has plenty of storage and includes a generous master bath. Off the master bedroom is a screened porch, again overlooking the views of the river and joins the deck with the hot tub. The second story has many delightful nooks that can be used as an office or an exercise room, again ample storage everywhere. There are three more cozy bedrooms and a second story family room that includes a pool table (conveys with the home). Relax on the balcony off the largest second story bedroom and take advantage of the summer breezes and Wicomico views. This beautiful home is located at the end of the Cobb Neck Peninsula of Southern Maryland, only 90 minutes south of Washington DC. Close by is Cobb Island which is home to several great seafood restaurants. Also close by is the Swan Point Yacht and Country Club which features a top-rated 18-hole golf course. Memberships are available.

Property type
Residential
Structure
Two Story, Story - Main, Story - Upper 1
Year built
1998
Parking
Driveway - Concrete
Price/Sqft
$188
MLS #
MDCH201060
Lot Size
21300 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: 4
Virtual Tour: virtual tour | Room Types: Dining Room, Bedroom(s) - Master, Kitchen, Family Room, Den, Sun/Florida Room, Gym / Fitness, Great Room, Laundry, Study / Office, Master Bathroom, Screened Porch | Basement: false

Bathrooms

# of Full Bathrooms: 2
# of Half Bathrooms: 1

Interior

Features: Bar, Exposed Beams, Family Room Off Kitchen, Floor Plan - Open, Wet/Dry Bar, Window Treatments

Exterior

Features: Hot Tub / Spa, Boat Storage, Above Grade, Below Grade

Building

Property Types: Residential | Year Built: 1998 | Structure: Two Story, Story - Main, Story - Upper 1 | Architecture: Post & Beam, Coastal, Detached | Construction: Cedar | 2 floor | Foundation: Crawl Space | Floors: Heated, Wood

Garage & Parking

Parking: Driveway - Concrete | Garage: true

Lot

Lot size: 0.49 acres | Lot size: 21300 sqft | Zoning: AC

Location

County: CHARLES-MD | Subdivision: ROCK POINT | Directions: From La Plata, south on 301 to Rt. 257 (left) follow for 9 miles, past post office continue on road STRAIGHT on Rock Point Rd. to Lancaster Farm Rd. on left, house on right. | MLS #: MDCH201060

Appliances

Appliances: Microwave - Built In, Dishwasher, Dryer, Energy Star, Ice Maker, Microwave, Refrigerator, Stainless Steel Appliances, Washing Machine

Heating & Cooling

Air Conditioning: Electric, Central Air | Heating: Geotheramal Heating, Radiant | Fireplace: true, 1, Stone, Wood Stove

Utilities & Security

Utilities: Cable TV Available | Sewer Service: Private/Community Septic Tank | Water Source: Well

Accessibility

Accessibility: Level Entry - Main

School

School District: CHARLES COUNTY PUBLIC SCHOOLS | Elementary School: DR. THOMAS L. HIGDON | Middle School: PICCOWAXEN | High School: LA PLATA

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: Ruth-Ann Mudd 

Listing courtesy of: RE/MAX One 

Bright MLS

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Data provided by: Bright MLS
Last detected update: October 16, 2019 07:14AM 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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