Home for Sale at 3590 Hwy 229, Mansfield, GA 30055

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3590 Hwy 229
Mansfield, GA 30055

Charles Dean with Anchor Home Realty, original listing - (770) 401-3241

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Property Details

List Price:	$1,600,000
Beds:	5
Baths:	Full: 5, ½: 1
Status:	Active
SqFt:	7713 Square Feet
Agency:	Anchor Home Realty
Agency Phone:	(770) 401-3241

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	19 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2006
Notes:	Off the beaten path on almost 20 serene acres sits a one of a kind waterfront Victorian, in the quiet and quaint city of Mansfield! Prepare yourself for an experience as you journey through the property and home. As you head up the private drive and pass the fully stocked 2.5 acre lake, you'll catch a first glimpse of the veranda. Driving around the convenient roundabout driveway and up the walkway will take you to the covered wraparound porch to begin this tour. Through these beautiful double entry doors we end up in the circular foyer with bay window seating, a gorgeous custom medallion inlay in the wood floors, with a circular rotunda and chandelier. This home has a formal study and sitting room, flowing into the formal dining room, and covered back porch. From the multiple pantries in the kitchen, to the windowed Victorian turrets, 6 fireplaces, vaulted and coffered ceilings, a theater room, a craft room, and even an elevator, this home has every detail meticulously designed. And to top it off, every window in this house offers picturesque views. The outdoor veranda features skylights, a wood burning fireplace, and BBQ, and direct access to a fenced portion of the property, the lake, and private walking trails. The craftsmanship and thought that went into building this home and maintaining the property is even better in person. Less than an hour from Atlanta and Hartsfield-Jackson airport! Freshly painted with a new roof and gutters!
MlsNumber:	--
ListingId:	1020749

Listing Provided By:	Anchor Home Realty, original listing
Phone:	(770) 401-3241
Office Phone:	(770) 401-3241
Agent Name:	Charles Dean
Disclaimer:	Copyright © 2024 Athens Area Association 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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