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1011 Allgood Road
Athens, GA 30606
$1,499,900
Conventional
Property
Bedroom
5
Bathroom
7
Property Type
Conventional
Square ft
6567
Property Description
Oconee County with an Athens address! Have you wanted to live in a modern-day castle? This home is perfect for you! With over 6,000 sq feet of insulated form construction, ICF, this home is built to last. Exterior walls are thick enough to sit on the windowsills and read a book while you enjoy your morning coffee. This Mediterranean-style home sits on a private 4.42 acres. As you travel down the driveway the home immediately draws your eye to grandiose placement on the lot. The two front porches show numerous spaces to relax after a long day. As you enter the large foyer, you are placed directly on the main level of the home. Looking straight ahead is the living room. With a large fireplace being flanked by multiple builtins this room is flooded with natural light with the two-story floor-to-ceiling windows. Facing towards the rear is an open courtyard with the perfect place for a pool if you are so inclined. To your right will be the kitchen and dining room areas. The kitchen is large and has a spacious island, walk-in pantry, and breakfast nook for cozy family gatherings. There are two exterior doors on this side of the home adjacent to the laundry room just off the kitchen. The right side of the home has a short hallway to reach the library and owners suite. The library overlooks the circular driveway with a bay of windows that give this room an open feel. The owners suite was extended during construction to add a 2nd fireplace and a well-designed nook for the placement of the largest beds. The room has an exterior door leading out to the covered rear patio as well. As you travel upstairs you will find three additional ensuites. One of my favorite features of this home is the breezeway that connects the garage to the rest of the home. This garage space not only has an oversized footprint for a two-car garage but also located above is an additional bonus room with a half bath. This room can be accessed from both levels of the home. Downstairs in the basement will be a large family room/media room with 2 additional flex spaces and storage areas. This area also is home to 5th and final ensuite. There is an additional exterior door leading out to a small uncovered patio area. The lot has a slightly rolling composition that has a nice combination of pine and hardwood trees. Conveniently located in Allgood Farms, this home is a short drive to all that Athens and Oconee have to offer via either 441 or the loop. A painting allowance is being offered by the seller.
Property Information
Lot Size
4 acre(s) square ft
Property Type
Residential
Year Built
2004
MLS Number
10233314
Location
Address
1011 Allgood Road
City
Athens
State
GA
Zip Code
30606
County
CLARKE
Listing
Provider
Coldwell Banker Upchurch Realty, original listing
Name
Coldwell Banker Upchurch Realty
Phone
(706) 543-4000
Office Name
Coldwell Banker Upchurch Rlty.
Office Phone
(706) 543-4000
Agent Name
Nathan Sonke

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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.