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3650 Colham Ferry Road
Watkinsville, GA 30677
$935,000
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
2624
Property Description
This property is a well maintained family home on 10.56 acres, allowing for many uses, hobbies and various places to explore or enjoy private reflection. Originally, the property housed a nursery and much of the oriental landscaping with specialty plants, such as Japanese Maples, Century plants, Quince, Figs, Buckeyes, Redwoods, and Chinese Pastache remain. Also on the property is a Pavilion and fire pit, an equipment barn and horse barn; 3 fenced pastures; basketball half court; and shade garden. There are several sheds, a workshop with electricity, and a well house with high capacity well. You enter the property via a landscaped, gated driveway to a 2624 sf main house and a 1180 sf 2nd home. One can enjoy sitting on the large covered front porch while over-lookin the ornamental garden. Out in front of the home is a covered pavilion & fire pit which is perfect for family barbeques. The Main house is a 2-story & upon entering, bamboo hardwood flooring runs throughout the living areas, while tile is laid in the bathrooms & laundry room. There are 9 ft. ceilings & an abundance of natural light. Ceiling fans & recessed lighting are in all main living areas & BR's. The MBR is on the main; the MBA features marble countertops, double sinks, a water closet, garden tub, & walk in closet. A 2nd BR on the Main with it's own BA & walk-in closet. There are 2 living areas, one with a wood-burning fireplace. The L-shaped kitchen has an island with bar, a stainless steel apron front sink, a walk-in pantry and granite countertops. Off the kitchen is a technology nook with cabinets. The kitchen is open to the DR, which has large windows with a view of the pasture. The laundry room has a sink, ample cabinets & a folding area. There is a convenient half bath on the back of the home with a mudroom. Upstairs there are 2 large bedrooms and a BA with 2 sinks. One is oversized (16 x 20) with a large walk-in closet. The other is a large flex space with windows that overlook the property. The covered back porch is just the right size (8 x 8). The 1180 sq ft structure, perfectly finished, which houses an office, currently, but could be an in-law suite. This smaller home was updated in 2018. It has a full kitchen with stainless steel appliances, a tile floor & skylight. It is open to the DR & living space. There are 3 additional rooms, 2 of which could serve as BR's. There is a small covered front porch & concrete back walkway with a storage building (8x10). The property features an equipment barn with electrical, a larger barn with 2 horse stalls and an enclosed workshop. Behind the open pastures, there are wooded trails. This property is unique in that it is quietly removed from the day to day hustle & bustle, but close in to amenities, doctors, schools and churches or whatever activities are of interest to the buyer. All water is supplied by a high capacity well situated in a well house. The property is in conversation use and the new owner will need to renew.
Property Information
Lot Size
10 acre(s) square ft
Property Type
Residential
Year Built
2018
MLS Number
10249788
Location
Address
3650 Colham Ferry Road
City
Watkinsville
State
GA
Zip Code
30677
County
OCONEE
Listing
Provider
Greater Athens Properties, original listing
Name
Greater Athens Properties
Phone
(706) 510-5189
Office Name
Greater Athens Properties
Office Phone
(706) 510-5189
Agent Name
Rhetta Howard

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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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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.