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524 Magnolia Blossom Court
Spartanburg, SC 29301
$950,000
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
5566
Property Description
Mendel Hawkins masterpiece with over 5500 ft.² with two separate living spaces nestled in the prestigious magnolia Park Estates that is conveniently located next to the major highway systems I-85 and I-26, grocery stores, shopping, dining and doctor offices. This home offers a backyard paradise with mature landscaping, spacious deck, and newly installed heated salt water pool (2022) with spill over Jacuzzi, massive custom rock wall with water fountain features. The main floor offers newly refinished light hardwoods, and light paint throughout. This showcase builder flaunts his skills with multiple arched doorways, massive Corbel and dental modeling detail, double tray/ vaulted/ exposed beam and coffered ceilings throughout the home to admire. From the entry there is a spacious foyer with arched opening to the formal dining room that boasts double trey ceiling, chair molding, and circular window. In the living room there is vaulted ceiling with exposed beams, built-in bookcase with shelving , gas fireplace and patio doors that open to the back deck. To the left of the foyer is one of the 4 bedrooms on the main floor with double trey ceilings that joins to the full bathroom with double vanity, tub/shower combo that adjoins to the hall through a pocket door. The master suite is located down the hall and offers double trey ceilings, sitting area, access to the deck, double vanity, vaulted ceiling, massive closet with built-in cabinetry and bench seating, walk-in tiled shower and soaker tub. The kitchen offers offers coffered ceilings, custom upscale cabinetry, smooth cooktop, stainless steel appliances which include an ice marker! There is a spacious bar with breakfast area with access to the deck for more space for seating and entertaining. On the opposite side of the home, there are two additional bedrooms with double tray ceilings, walk-in closets that share a full bathroom. The laundry is a walk-in with sink. There is also access to the 3- car garage. In the 3 car garage is a sauna that will stay with the home. From the main floor you can access the basement from a set of stairs. All windows upstairs have custom plantation shutters, there is NO CARPET, it is all hardwoods that have just been refinished or tile and all bedrooms have double trey ceilings! Upstairs has 4 bedrooms with 3 full bathrooms and downstairs has 2 rooms currently being used as bedrooms, so home has the potential to be used as a 6 bedrooms with 4 full baths and 1 half bath. The basement offers an entire separate living with the potential to have 2 bedrooms, living, dining, kitchen, recreation/workout space, full bathroom and half bath with separate drive up parking and separate door for entrance. You will never feel like you’re in a basement due to the wall of windows, bright white paint, recessed lighting and white tiled flooring through most of the space. The full kitchen has a breakfast area with enough room for a full-size table, There is a recreation space that opens to the workout area. The half bath is off from the workout space and down further is a 20x 18 spacious living room. The two rooms with multiple walk-in closets are being used as bedrooms connect to the living room. One of them has a full bathroom and multiple walk-in closets. There is even a hook up in the kitchen for a washer and dryer. The home boasts a tankless gas water heater, irrigation system, heated pool and Jacuzzi and fenced backyard. Must see to appreciate all this home has to offer.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2009
MLS Number
310948
Location
Address
524 Magnolia Blossom Court
City
Spartanburg
State
SC
Zip Code
29301
County
SPARTANBURG
Listing
Provider
Ellison Real Estate Co. LLC, original listing
Name
Ellison Real Estate Co. LLC
Phone
(864) 580-7653
Office Name
Ellison Real Estate Co. LLC
Office Phone
(864) 706-6974
Agent Name
Tasha Ellison

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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.