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407 Mill House Road
Sparta, GA 31087
$2,600,000
Conventional
Property
Bedroom
7
Bathroom
7
Property Type
Conventional
Square ft
8824
Property Description
Who said you can not have it all? If you love the outdoors, this is a MUST SEE. It is resort living without ever leaving your home. This gated 277 acre estate greets you at the gate with a winding driveway past the income producing pecan orchard, open pastures filled with cows and horses, and 2 beautiful lakes. As you get closer to the breathtaking main custom home, you will enter through a second gate and it sits atop a hillside. It is a picture of southern splendor, similar to the historic columned homes of the 1900's, but built in 2006, this estate leaves no stone unturned. The heavy trim throughout, soaring ceilings, spiral staircase, custom cabinetry and built ins, and beautiful wood flooring, large rooms, spray foam insulation, custom shutters, and beautiful lighting shows the attention to detail is abundant. This is an amazing full time residence or rent it for weddings or corporate events. It features a parlor entry, gourmet kitchen, formal living and dining room, amazing great room Overlooking the inground pool, fitness center, and 3 oversized bedrooms upstairs, each with their own bath. The River house is located on the Ogeechee river. 3 bedrooms and 2 baths on a full unfinished basement. Fish from your deck and enjoy listening to the water as it passes by. The last house, the cabin, overlooks the upper stocked pond. This quant cabin features one bedroom, 1 bath and would be perfect for Airbnb. Multiple barns and workshops are located throughout the property. This is one amazing piece of property that has many income producing opportunities. How many places can you swim, hunt, hike, ride horses, canoe, ride four wheelers, fish, and hit golf balls all in the same day without leaving the gates of your property. Appointment required and proof of funds or prequal letter prior to showing.
Property Information
Lot Size
272 acre(s) square ft
Property Type
Residential
Year Built
1997
MLS Number
1012388
Location
Address
407 Mill House Road
City
Sparta
State
GA
Zip Code
31087
County
HANCOCK
Listing
Provider
Algin Realty, Inc., original listing
Name
Algin Realty, Inc.
Phone
(770) 616-4460
Office Name
Algin Realty, Inc.
Office Phone
(770) 616-4460
Agent Name
Ginny Vanoostrom

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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.