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775 Riverhill Drive
Athens, GA 30606
$1,250,000
Conventional
Property
Bedroom
5
Bathroom
4
Property Type
Conventional
Square ft
4996
Property Description
Simply way too much to tell about this great home and adjacent buildable lot, so please contact Listing Broker for Brag Sheet. By far one of the coolest homes and lots in Beechwood, a true in-town tight-knit community on the edge of campus and in the thick of everything Athens has to offer. This home has been lovingly maintained by the current owner and has been owned by UGA professors throughout its rich history. A blend of mid-century modern and traditional architecture, 775 Riverhill is set up for entertaining and family life. The versatility of floor plan makes for wonderful multiple work from home environments while never compromising on bedrooms and living spaces. Two full en suites on main along with two more bedrooms and a hall bath, and another bedroom and full bath on the terrace level. Main floor boasts a cook's kitchen with high-end stainless appliances, including counter depth commercial fridge, double wall ovens, 5 burner gas cook top, sleek floating vent hood, built-in buffet and eat-in area. Main floor also boasts a large bright living room with view to the gardens on the terrace level, an expansive dining room with French door access to a private side patio for grilling, dining al fresco, and morning coffee. Side hall access to a walk-in pantry, large laundry with utility sink, a built-in home secretary desk, and a built-in drop zone at the end of the hall by the side-door. Both en suites on main are uniquely inviting, bright, and private, both with additional sitting areas and views of the gardens. Terrace Level steps right out onto the immense flagstone patio overlooking mature, low maintenance gardens filled with meandering trails, inviting outdoor living spaces, like large decks with overlooks and more patio-style spaces, and anchoring all this is a babbling brook/waterfall terminating into a deep koi pond below. The sound of the falls can be heard throughout the gardens as well as from above in two of the main floor bedrooms with sliding door access to a balcony overlooking the gardens. Terrace Level boasts an expansive den with a fireplace, indoor grilling nook, and built-in bar area, a sunroom with an additional walk-up wet bar and more built-ins for cocktails on the patio, multiple workshop and flex spaces, as well as the last bedroom and full hall bathroom. Many improvements and updates over the years include updates to the bathrooms, kitchen, appliances, HVAC, roof, water heaters, electrical, and much more. The adjacent buildable lot is included in this sale, and while it is currently incorporated into the lot with the house, it is easily parceled off if desired, but more than likely you'd want to turn this place into a family compound by adding a second home for multi-generational living, a guest house, or an income producing second home. Will stop here, but please request the brag sheet from the listing broker and schedule your tour asap. You will not want to leave
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1965
MLS Number
1014457
Location
Address
775 Riverhill Drive
City
Athens
State
GA
Zip Code
30606
County
CLARKE
Listing
Provider
Nabo Realty, LLC, original listing
Name
Nabo Realty, LLC
Phone
(706) 607-6226
Office Name
Nabo Realty, LLC
Office Phone
(706) 607-6226
Agent Name
Joseph Polaneczky

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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.