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1827 Lost Mountain Road
Powder Springs, GA 30127
$999,999
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3498
Property Description
Peace and tranquility describe this Powder Springs property best! As you leave the world behind and enter this 10.8 acre property via the paved drive, you are greeted by a grassy field on your right, then are soon enveloped by a canopy of mature trees. Winding your way through the forest, you suddenly emerge upon an open expansive clearing with an amazing pastoral view. To your immediate right is a charming four-sides brick two-story home complete with rocking chair porch, just begging you to relax with some “front-porch sittin”. As you enter the residence you are immersed in the heart of the home, which features a spacious Family Room, highlighted on the back wall by a stately brick fireplace, flanked by double glass doors on each side, showcasing an extended covered porch with plenty of space to enjoy an outdoor lifestyle. The open floorplan encompasses the Dining Room and Kitchen on your left. Take a right turn at the fireplace and you come upon the bright, cozy Sunroom on your left, well-appointed with floor to ceiling windows that flood the space with natural light, and ensures you enjoy the backyard. Continue to your right down a short hallway revealing the Primary Retreat. This oversized Bedroom gives you so many options on how to make best use of the immense space to suit your needs and continues to impress with a large walk-in closet and En-suite with dual sink vanity, separate tub and shower. Retracing your steps back through the Family Room, you flow straight into the Kitchen, accented with a peninsula/breakfast bar, continuous granite countertops, convenient desk, and new updated lighting. The split bedroom floorplan reveals itself past the Garage and turning right at the Laundry Room, then down a short hallway to a Secondary Bedroom with Full En-suite. This handsome home sits on a full Basement with interior and exterior access that is partially finished with a massive rec room, complete with pool table, wood-burning stove and multiple storage closets. Unfinished portion of basement is accessed from outside by full-size garage door, as well as an exterior door, for ease of use and storage. Upstairs are 2 additional sizable Bedrooms, each configured with its own En-suite and ample walk-in closet space. The main floor covered Porch leads out to a gorgeous flat backyard, landscaped with trees and shrubbery, while also incorporating a large Pavilion overlooking the tennis court. Tennis anyone? To the left is a wide-open, fenced pasture with Outbuilding, that once was home to horses and now is used as a workshop or hay storage. This home has been well-loved by the original owner.
Property Information
Lot Size
10 acre(s) square ft
Property Type
Residential
Year Built
1987
MLS Number
7226621
Location
Address
1827 Lost Mountain Road
City
Powder Springs
State
GA
Zip Code
30127
County
COBB (SOUTHWEST)
Listing
Provider
Atlanta Communities Real Estate Brokerage, original listing
Name
Atlanta Communities Real Estate Brokerage
Phone
(770) 240-2001
Office Name
Atlanta Communities
Office Phone
(770) 240-2001
Agent Name
Kelly Flowers

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HUD Foreclosures

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.