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323 Stone Edge Drive
Butler, TN 37640
$3,995,000
Conventional
Property
Bedroom
5
Bathroom
8
Property Type
Conventional
Square ft
8445
Property Description
WORLD CLASS estate sitting on 1.69 acres, boat slip and perched with UNMATCHED long range mountain and lake views. Immaculately constructed and maintained, this Lodge features 5+ bedrooms suites all with private baths featuring high end fixtures, bidets and remote start showers! The electronic window shades create the perfect lighting at all times! Entering through the security gate, the quality of construction takes over! The stamped concrete motor court features access to an oversized and spotless three car garage and detached heated and cooled carriage house with car elevator. The flowing floorplan features spacious main level living with BREATHTAKING views from every room. The magazine worthy primary bedroom suite has every upgrade imaginable. The kitchen is BRIGHT and Airy and features top of the line WOLF, subzero and Miele appliances! The main level guest suite is the perfect getaway! Take the wood paneled ELEVATOR up to the massive fitness center or to enjoy the TOP OF THE LINE home theater! The lower level offers unmatched recreational living! Featuring an additional 3 bedroom suites and massive entertaining area served by a 2nd indoor kitchen and massive OUTDOOR kitchen all featuring top of the line appliances! A coffered ceiling office features the perfect backdrop of mountain and lake views and WORLD CLASS walk in safe room with unmatched security! Cozy up by the outdoor fireplace on the stone veranda or rinse off in the outdoor shower after a dip in the hot tub/ swim spa! The craftsmanship in the woodwork, custom arched Alder oversized interior doors and detail work is simply breathtaking. Enjoy the finest views of East Tennessee from nearly every inch or take a stroll down to your boat slip and ride into the sunset! Buyer/Buyer's agent to verify all MLS info.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
2013
MLS Number
9962855
Location
Address
323 Stone Edge Drive
City
Butler
State
TN
Zip Code
37640
County
JOHNSON
Listing
Provider
PRUDENTIAL GREG COX REAL ESTATE, original listing
Name
PRUDENTIAL GREG COX REAL ESTATE
Phone
(423) 282-2411
Office Name
Berkshire Hathaway Greg Cox Real Estate
Office Phone
(423) 282-2411
Agent Name
Gregory Cox

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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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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.