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2692 Mercedes Drive
Atlanta, GA 30345
$1,100,000
Conventional
Property
Bedroom
6
Bathroom
6
Property Type
Conventional
Square ft
3222
Property Description
Beautifully renovated traditional ranch in the heart of sought-after Breckenridge Subdivision and Oak Grove Elementary School! Spacious Entry Foyer opens to large formal living room, and a dining room which seats 12, all with 9 ft. ceilings. New quartz waterfall countertop on island, Dacor SS appliances, Bosch dishwasher, beverage fridge, built-in shelves, glass cabinets, built-in microwave, wall oven, and warming drawer. Large walk-in pantry is a cook's delight! Breakfast room with bay window offers plenty of sunlight and overlooks private and wooded back yard! Family room has a gas fireplace and leads through French doors to a nice deck with gas grill, perfect for entertaining. Three secondary bedrooms share 2 tastefully renovated bathrooms. Separate powder room in hallway. Bright Master Bedroom with lovely large picture windows is spacious and has plenty of room for lounging. Master Bathroom boasts two separate vanities, big specialty mirrors (one with a tv inside), gigantic jacuzzi tub, spotless walk-in shower, separate WC and very roomy closet with built-in ironing board. The full basement has a large, livable, usable daylight area with the following on one side: 5th bedroom with full bathroom, cozy and private, great for an office; kitchen is perfect for entertaining; space for a pool table; sitting area with a fireplace; and a stage area. The nice-sized laundry room is located in the basement and provides plenty of additional storage with utility sinks. Additional in-law suite on terrace level includes a bedroom and bathroom, kitchen, and a nice living room, great for guests or can be used as an ADU with no rental restrictions!!! 3 car garage is perfect for extra storage of a car or other big items; lower parking pad on terrace level has easy access to basement and in-law suite...no stairs at all! Terrace level is fenced in, flat, with new sod and river rock patio, providing great area for play or pets. House sits on .7 acres and the back yard extends to the second fence in back, so easy possible expansion of the back yard (Owners have drawings and provided upon request). Enormous front lawn is flat and so usable. Professionally landscaped front yard is easy to maintain. Super convenient location, just 10 min drive From CHOA; 15-20 min from Brookhaven; 15 min to Decatur; 15 min to Emory and CDC. 10 min from Mercer University. Walk to Briarlake Forest and popular Twin Lakes Swim and Tennis Club. Breckenridge has a very active civic association which sponsors parties and also has a very active neighborhood network including Ladies of Breckenridge, 2 Garden Clubs, book clubs, mahjong groups, men's weekly breakfasts.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1965
MLS Number
7384777
Location
Address
2692 Mercedes Drive
City
Atlanta
State
GA
Zip Code
30345
County
DE KALB (WEST)
Listing
Provider
Remax Metro Atlanta, INC., original listing
Name
Remax Metro Atlanta, INC.
Phone
(404) 321-3123
Office Name
RE/MAX Metro Atlanta
Office Phone
(404) 321-3123
Agent Name
Brenda Beadles

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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.