Home for Sale at 881 HWY 18 W, Gray, GA 31032

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881 Hwy 18 W
Gray, GA 31032

Susan Timm with S.K. Smith Realty and Associates, Inc., original listing - (478) 743-2271

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Property Details

List Price:	$550,000
Beds:	5
Baths:	Full: 3
Status:	Active
SqFt:	3436 Square Feet
Agency:	S.K. Smith Realty and Associates, Inc.
Agency Phone:	(478) 743-2271

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Description/Comments

Lot Size:	5 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	1974
Notes:	This house is the perfect mix of privacy and convenience. Located only minutes outside of town yet privately positioned on 5 secluded acres of land with a long private circle driveway and about 325 ft of beautiful Creek frontage. This house offers a spacious 3436 sq feet with 5 bedrooms, 3 baths and a bonus room that could be used as a gym or TV room with sink, cabinets with room for a mini refrigerator, mirrors, with separate entrance and porch. Spacious bedrooms with built in storage systems in closet. The kitchen offers a spacious layout with granite countertops, high ceilings, ample counter and cabinet space, soft close cabinets, a bar and wine cooler. Custom mud room with built in's off the side of the kitchen with enough room for a deep freezer, and side entrance with covered porch. The interior features custom barn doors and a stone fireplace, high ceilings in the living and dining room, and 4 sets of sliding glass doors throughout. A large private covered outdoor living space. Stairs give access to a large attic great for extra storage. Outdoor 10 x 10 shop, brand new awning for parking with covered side porch entry. All HVAC systems have been replaced within the last few years. Well, septic, and Tri-cogo high speed internet. Located about 2 miles away from Dames Ferry School.
MlsNumber:	--
ListingId:	176278

Listing Provided By:	S.K. Smith Realty and Associates, Inc., original listing
Phone:	(478) 390-2000
Office Phone:	(478) 743-2271
Agent Name:	Susan Timm
Disclaimer:	Copyright © 2024 Mid Georgia MLS. 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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