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3726 Promontory Point
Louisville, TN 37777
$2,795,000
Conventional
Property
Bedroom
3
Bathroom
5
Property Type
Conventional
Square ft
7370
Property Description
Lakefront Luxury! Welcome to this gorgeous lakefront home located on the main channel of Fort Loudon Lake in the gated Lowe's Ferry Community. From the moment you drive into the circular driveway, you will appreciate the loving care the current owners have invested into the grounds and landscaping which offers irrigation, and plenty of landscape lighting. Upon entry, you are greeted by a grand foyer with soaring 16 foot ceilings and a wall of windows offering phenomenal views of the lake. With easy main level living. The open common area offers plenty of natural light with stellar lake and sunset views. The gourmet kitchen is open to the great room and boasts a large breakfast bar and breakfast room. Even the most discriminating chef will appreciate the attention to detail in the modern kitchen with built-in oven and microwave along with 42 inch wall, cabinets and base cabinets with a pull out drawers. Additionally, there is a step in pantry with ample shelving and custom-made spice storage. The spacious great room offers a gas fireplace flanked by custom built in shelving and cabinetry. The main level owners suite is well appointed with 12 foot ceilings, double doors leading to the screened porch and an enormous owners bath with double vanities, make up vanity, tiled walk in shower with instant hot water, an air jetted soaking tub, and a massive walk in closet. Also, on the main level, you will find a guest suite with an en suite bath, and the large laundry room with plenty of extra cabinetry and storage. There are 3 exits to the screened porch which also offers an open air sun deck. While the home offers phenomenal main level living, why would you stay on the main level when you can enjoy the equally phenomenal finished walk out basement which could be used as in-law quarters and is wheelchair accessible. Offering a full kitchen and den, an oversized bedroom with its own en suite full bath, a flex room that could be used as an office or an additional bedroom, guest half bath, theater room, extra storage and a spacious 30 x 30 multi-purpose room. The basement level steps outside to a covered patio that overlooks the beautiful custom water feature and fenced backyard. Take a short, walk down a level path to the oversized dock with up to approx. 12,000 lb boat lift, sunning deck, and covered entertaining area. The dock offers locked storage and an area to hang kayaks or canoes. The community offers nice common grounds with a boat launch, community pool, community sewer system, and clubhouse with very low yearly HOA fees. This property has way too many features to list. Qualified buyers are welcome to call for a private tour.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2008
MLS Number
1251698
Location
Address
3726 Promontory Point
City
Louisville
State
TN
Zip Code
37777
County
BLOUNT
Listing
Provider
Realty Executives Associates, original listing
Name
Realty Executives Associates
Phone
(865) 983-0011
Office Name
Realty Executives Associates
Office Phone
(865) 983-0011
Agent Name
Jackie Mills

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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.