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329 Lakeview Drive
Butler, TN 37640
$580,000
Conventional
Property
Bedroom
5
Bathroom
4
Property Type
Conventional
Square ft
3504
Property Description
Wake up to incredible views of Watauga lake all year long with this custom home situated on a private 2 acres. This incredible property offers a special opportunity to own your own private lake get-away or have the ideal income producing rental. The main living area will amaze you with stunning lake views, ceiling-to-floor dual stone fireplace, expansive kitchen with farm sink, abundance of natural light, & gleaming hardwood floors. You can choose to enjoy the views from either the large deck under the electric awning, or cozy up inside the sunroom next to the wood burning stove. You will also find a large primary bedroom with private ensuite with its own access to the deck. Two additional bedrooms offer the perfect space for all your needs. The heated workshop & 2-car garage make an incredible addition to the main level. A RV garage was installed in 2022 allowing for even more storage capabilities. Downstairs you will find the mother-in-law suite with private entrance, fully functional kitchenette, 2 bedrooms, 1 full bathroom, and an additional wood burning fireplace. Use this space for housing your guests, an over-sized flex space, or even Airbnb it. Upon exiting the downstairs living space, you will find the covered fire pit area set up for relaxing and watching the lake. House is professionally pre-wired for a generator so you'll be prepared for any weather and complete Radon mitigation system is also installed and fully functional. Owners had two areas designed for camping and fully equipped them with water, electric, and even septic at the second site. These sites offer lake views and an additional opportunity to further turn this into an income producing property. Additional features of this property include abundant wildlife, impressive landscaping, and fruit trees & plants such as peach, pear, cherry, apples, and blueberry. Buyers/Buyers agent to confirm all information within.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
2002
MLS Number
9962773
Location
Address
329 Lakeview Drive
City
Butler
State
TN
Zip Code
37640
County
JOHNSON
Listing
Provider
Coldwell Banker Security Real Estate of Tennessee, original listing
Name
Coldwell Banker Security Real Estate of Tennessee
Phone
(423) 446-0148
Office Name
Coldwell Banker Security Real Estate
Office Phone
(423) 282-2595
Agent Name
Sierra Arnett

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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.