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128 Chinquapin Lane
Madisonville, TN 37354
$769,900
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2259
Property Description
This classic & elegant country estate has been cherished & loved by the same family since 1965. Perfect for those seeking peace, seclusion and beautiful sunsets. There are ample views of rolling hills, neighboring horses, and black angus cattle. Almost daily many deer will pass thru the yard at dusk or in the early morning hours. This southern classic home has been mostly renovated within the last two years with many prominent features. As you enter the front door you will step into the large living area which could easily accommodate an over sized sectional and several large living room pieces. The new engineered wood flooring flows within this living area throughout the dining area. The wonderful kitchen illuminated by natural light features tile to ceiling walls, new upgraded stainless appliances to include gas stove w/ hood, dishwasher, refrigerator and built-in microwave. Recessed lighting. Large pantry with roll-out shelving. 100% waterproof vinyl flooring interlocking to look like ceramic tile. Newly created open floor plan to include dining area, new gas fireplace and den. New sheetrock, ceilings and all new light fixtures. Original built-in china cabinet and/or wet bar next to fireplace. Fireplace has newly painted brick hearth and new gas logs with remote. Ample storage in home to include pantries, cleaning closets and many wardrobe closets along with two attic spaces. 1st master bedroom ensuite features its own sunroom with heated flooring which leads out to a private fenced in shaded garden. On the opposite end of the home lies the 2nd master ensuite newly renovated consisting of new tongue & groove ceilings, light fixtures, new bath with walk in tile shower and new paint. Double closets & laundry. Ample finished loft space with lounge & groove ceilings to make for many uses. This special ensuite could serve as an in-law suite with its own access. Guest bedroom adjacent to master with its own ensuite also freshly painted with plenty of closet space. 2nd Living/den with lots of windows for natural light, new recessed lighting & new engineered wood flooring leads to its own sunroom which could easily fit a large wicker set or patio dining set. Terracotta tile flooring in sunroom. Swing does not convey. Two car carport and additional two car garage with two door openers. Large separate work space in garage which was recently used for woodworking and stained glass. Attached to garage is a potting shed. Horse barn which has been recently structurally repaired and is currently housing two horses. Loft space for hay in barn and lots of storage space. Attached to barn is a covered shed for mower storage but could easily become a chicken coop or green house. Barn area is picturesque with a backdrop of rolling hills and mature trees. Public water available please verify with City of Madisonville. Easement from neighboring property for farm animals to use creek. Tennis court is in need of resurfacing but owner has been using this space for picnics and entertaining. Could easily turn this into a covered picnic pavilion with fireplace and outdoor kitchen as a project for new owners living the dream! Long tree lined paved circular driveway leads to barn and house. Many mature trees to include pine, oaks, dogwoods and crepe myrtles. Estate is located at the end of an older restricted subdivision giving property lots of seclusion and only views of rolling hills and pasture. Located in city limits with pickup services of trash and brush. Buyer to verify square footage & all information. Seller selling As Is. Conveniently located 3 minutes from downtown Madisonville which is always hosting community events. 32 miles from McGhee Tyson Airport, 50 miles from Downtown Knoxville, 189 miles from Nashville, 81 miles from Chattanooga. 31 miles from Bald River Falls. Little over 1 hour drive to Gatlinburg.
Property Information
Lot Size
6 acre(s) square ft
Property Type
Residential
Year Built
1965
MLS Number
1243697
Location
Address
128 Chinquapin Lane
City
Madisonville
State
TN
Zip Code
37354
County
MONROE
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
Lisa Hunt

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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.