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749 Cobb Street
Athens, GA 30606
$1,875,000
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
4851
Property Description
Welcome to 749 Cobb Street located in the highly desirable Cobbham Historic District in Athens, Georgia. This magnificent in-town home is known as the Sledge Cobb Spalding residence and is notably on the National Register of Historic places since 1974. Built for Athenian James A. Sledge and later owned by Mrs. Lamar Cobb, who became the first president of the Ladies Garden Club of Athens, this home dates back to 1860. The Gothic Revival cottage is a one and one-half story, 5 bedroom with 3 full bath and 2 half-bath single family residence featuring a steep roof with three distinctive tall triangular front-facing dormers. Deep and sweeping front porch with intricate open-work cast iron period details as well as a curved wooden rafter veranda gives a commanding view of Cobb Street. Elegant walnut and oak interior woodwork, solid wood doors, gorgeous handcrafted hardwood floors, 16 - 18 inch masonry walls, 12 foot ceilings, strikingly large windows and multiple cast iron mantels are just a few of the many gorgeous details of this home. From the double front doors, impressive foyer and central hallway, there are generous formal living and dining rooms separated by large-scale working pocket doors. Library or sitting room opposite with built-ins. Light and bright renovated kitchen back of house with island and plenty of cabinetry / storage space as well as dual exterior covered porch access. Beyond kitchen is a spacious addition consisting of sunny family room and laundry room with half-bath. Main floor owners' suite with large walk-through custom closet and sunlit bathroom. Additional guest powder room on this level. Upstairs there is a gracious landing as well as a large open space area on the top floor that can be used for lounging or conversation. Four spacious and private bedrooms and two full bathrooms are also on this level. Charming front facing gabled room for reading, studying or napping is also located here. Plenty of closest and storage spaces on both levels. Downstairs features a large back porch with covered deck for entertaining, dining or resting overlooking a high walled and gated courtyard with koi pond and landscaped areas. There is also a gated driveway with fenced areas along with two separate parking pads to accommodate several cars. Additionally on the property, there is an electrified and conditioned outbuilding for storage, moved from a local sorority, built in the same era as the main house. Nearly an acre of land, this unique and historically significant property sits very close to the Prince Avenue business corridor featuring walkable shops, restaurants and bars of Normaltown and beyond. The home is also just a quick drive from downtown Athens and The University of Georgia.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1860
MLS Number
1012294
Location
Address
749 Cobb Street
City
Athens
State
GA
Zip Code
30606
County
CLARKE
Listing
Provider
Coldwell Banker Upchurch Realty, original listing
Name
Coldwell Banker Upchurch Realty
Phone
(706) 543-4000
Office Name
Coldwell Banker Upchurch Realty
Office Phone
(706) 543-4000
Agent Name
Eric Vaughn

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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.

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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.