Home for Sale at 7396 Old Hwy 76, Morganton, GA 30560

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7396 Old Hwy 76
Morganton, GA 30560

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Property Details

List Price:	$2,300
Beds:	3
Baths:	2
Status:	Active
SqFt:	1478
Agency:	Harry Norman, REALTORS

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Description/Comments

Lot Size:	1 acre(s)
Property Type:	Residential
Year Built:	1971
Notes:	A quietly situated 3 bedroom/2 bathroom long term, minimum 1 year, rental is located just off of Old HWY 76. The home includes a gas log fireplace in the Den, carpeted bedrooms and hardwood throughout the rest of the house. The quaint kitchen includes a refrigerator, and some new appliances including a microwave, an electric stove, and a dishwasher. There is plenty of cabinet space. Hook-ups for washer/dryer. Owners have put in new toilets and a new bathtub/shower in one of the bathroom. There is a new roof on the house as well. Outside offers a spacious outdoor play area for children and a gated fence to keep an outdoor pet. Covered parking with easy access into the home. Only 3 minutes to the Lake Blue Ridge Marina and 10 minutes to Downtown Blue Ridge shopping & dining. At some point driveway will be repaved. Alternative parking will be available during this time. Tenant pays Cable, water, electric, propane and trash. Tenant takes care of lawn. There is an application fee of $75.00 per person/applicant. Proof of income will be needed. A credit check and background check will be performed after the online application is submitted.
MlsNumber:	403928

Listing Provided By:	Harry Norman, REALTORS, original listing
Name:	Harry Norman, REALTORS
Phone:	(770) 402-1908
Office Name:	Harry Norman REALTORS - Blue Ridge
Office Phone:	(706) 913-8300
Agent Name:	Holland Johnson
Disclaimer:	Copyright Â© 2024 Northeast Georgia Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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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