Home for Sale at 8265 Seabolt Drive, Cumming, GA 30028

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8265 Seabolt Drive
Cumming, GA 30028

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Property Details

List Price:	$900,000
Beds:	3
Baths:	2
Status:	Pending
SqFt:	1568
Agency:	Community Partners LLC dba Keller Williams Realty

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Description/Comments

Lot Size:	7 acre(s)
Property Type:	Residential
Year Built:	1982
Notes:	IT'S ALL ABOUT THE LAND!! Nestled amidst a rapidly expanding North Forsyth region, this residential property is an enticing prospect for investors and developers alike. Boasting vast acreage and positioned within close proximity to multiple new developments, the possibilities for this land is boundless. The existing ranch-style home, though in need of refurbishment or replacement, offers a glimpse of the property's potential. With three bedrooms, two full bathrooms, and a spacious family room, the layout presents ample opportunities for customization. Laundry facilities tucked away in the sunroom add practicality to the living space. The property is currently serviced by a well,but there is the option for public water hookup.While lacking a garage, a shed on the property provides additional storage. With 987+/- feet of road frontage on Seabolt and over 286+/- feet on Wallace Tatum, the potential for subdivision or multifamily development is evident with lots being 400+/- feet deep. Furthermore, the property's proximity to a newly constructed development enhances its allure. Whether envisioning a sprawling farmstead or a multi-family compound, this property beckons to those with a discerning eye for opportunity. Investors, developers, and families seeking acreage will find this property a compelling canvas upon which to build their dreams.
MlsNumber:	7357781

Listing Provided By:	Community Partners LLC dba Keller Williams Realty, original listing
Name:	Community Partners LLC dba Keller Williams Realty
Phone:	(678) 341-7409
Office Name:	Keller Williams Realty Community Partners
Office Phone:	(678) 341-7400
Agent Name:	John R Cook
Disclaimer:	Copyright Â© 2024 First Multiple Listing Service, Inc. 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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