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790 Lick Creek Rd
Tellico Plains, TN 37385
$4,460,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
6293
Property Description
Pending, Contingent First Right of Refusal...Welcome to an extraordinarily rare Tennessee Mountain estate, situated on 196 usable acres and enhanced by a luxurious, comfortable, architecturally designed post and beam home built with the finest materials and thoughtful craftsmanship. This one-of-a-kind lodge home offers over 6,000 square feet of living space plus outbuildings in heavy timber construction for a strong and beautiful foundation that will last for generations. The interior is adorned with 100-year-old recycled barn wood floors, stairs, and railings to create a rustic yet modern look with heavy timber posts and beams that is unique to this property. Make yourself at home in the custom kitchen which features a large island perfect for entertaining family and friends. There is a great room with wood burning fireplace and the primary suite has beautiful views from the sitting area and the primary bath offers your very own gas fireplace for enjoying a quiet soak in the oversized tub. The lower level offers a great entertainment space with game room, pub style bar, wine cellar, and a large open area perfect for your hobby/craft room or make another primary suite! Enjoy stunning views of the mountains through oversized windows while you relax inside or take advantage of all there is to do outdoors. The outdoor amenities are endless with over 196 stunning acres with views suited for a magazine cover. There is a phenomenal 3,636 square foot building that is currently being used as a barn with 1,836 square feet of space upstairs with ground level access. This upper-level space was built to code for a conversion to a separate home, a recording studio, art studio, workshop, or an event venue. The lower level of the two-story bank barn features five stalls, heated and cooled wash station with tack and feed room, hay loft, covered shed, office space, 12' center aisle and 9' ceiling height that comfortably houses horses or other livestock all year long. Additionally, the pastures total approximately 50 acres of which about 20 acres is fenced. The property is a natural watershed and could accommodate 2 nice ponds with the proper design. The land is very usable and rolling with views of the Tennessee, Georgia, and NC mountains and has a year-round spring. You could make your very own dream estate or private resort for generations with a private retreat for hiking, horseback riding, hunting, wildlife viewing, star gazing, or convert to an equestrian community with rental cabins, event center as the property offers lots of road frontage and has numerous building sites. Over 3 miles of trails await those who love adventure while Shoal Creek runs through 1/3 of the property offering even more natural beauty throughout the estate grounds! For those looking for shooting practice, there's also a gun range included onsite so you can sharpen your skills year-round if desired. For added convenience and practicality, this property includes an extra-large RV port 18'x50' with two 50-amp services and two water connections plus new asphalt driveway, so visitors have easy access from their vehicles once they arrive at your majestic home! There's also a detached oversized 3 car garage with a well-appointed guest house on the second level, ready for your visitors. This luxury estate is located just minutes (8 miles) from the Nationally recognized Trail Town of Tellico Plains (unique shopping, dining, hiking, fishing, kayaking, camping, and hunting). The Tellico River and the Cherokee National Forest awaits in this true outdoor lover's paradise which is also the Gateway to the Cherohala Skyway that attracts over 1.5 million visitors every year to capture the absolute beauty of this scenic byway that hastens to the motorcycle enthusiast and anyone looking for a peaceful and scenic drive. A 30-minute drive to the I-75 Interstate corridor-gateway to the 9 lakes region
Property Information
Lot Size
196 acre(s) square ft
Property Type
Residential
Year Built
2009
MLS Number
1223865
Location
Address
790 Lick Creek Rd
City
Tellico Plains
State
TN
Zip Code
37385
County
MONROE
Listing
Provider
Realty Executives Associates Main Street, original listing
Name
Realty Executives Associates Main Street
Phone
(423) 836-9494
Office Name
Realty Executives Main Street
Office Phone
(423) 836-9494
Agent Name
Scott Wilson

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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.