Home for Sale at 601 River Overlook, Forsyth, GA 31029

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601 River Overlook
Forsyth, GA 31029

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Property Details

List Price:	$1,350,000
Beds:	6
Baths:	Full: 4, ½: 3
Status:	Active
SqFt:	7296 Square Feet
Agency:	SouthSide, REALTORS
Agency Phone:	(770) 914-2122

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Description/Comments

Lot Size:	1 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2005
Notes:	One of a kind custom home in River Forest. This home boasts curb appeal like no other. Walking into the double front doors, you are greeted with exquisite craftsmanship. Off the foyer you will find the sitting room along with the formal dining room, both including oversized windows and tray ceilings. Stretching over the living room and kitchen are beautiful timber-framed vaulted ceilings. In the kitchen you will find custom cabinetry, stainless steal appliances and a walk-in pantry. The living room includes custom built ins, a stone fireplace, and large arched windows and sliding glass doors, allowing for optimal natural lighting. Oversized bedrooms, a walk in laundry room, and large primary suite are all features found on the main floor. Upstairs includes a large suite, living/bonus room, wet bar, and roof top deck overlooking adjacent lot (included with home). The basement is fully finished, including a theater room, large kitchen, living room, safe room/wine cellar and a bedroom and full bath. The basement also includes access to one of the 3 separate garages that doubles as a great entertainment area. The outside space of this home is as impressive as the inside features. With three levels of patio/ outdoor space, this home doubles as a private oasis and an entertainers dream. Waterfall, outdoor kitchen, and fenced grass area are all statement pieces of the outdoor living area. In addition, there is a separate guest house/office with a half bath over a detached garage. This home truly has it all! Monroe County Schools.
MlsNumber:	--
ListingId:	10361751

Listing Provided By:	SouthSide, REALTORS, original listing
Phone:	(770) 914-2122
Office Phone:	(770) 914-2122
Agent Name:	Chad Tyler
Disclaimer:	Copyright © 2024 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing