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104 Shotwell Street
Bainbridge, GA 39819
Natalie Kirbo with Premier Group Realty, original listing - (229) 246-9837
$450,000
Conventional
Property
Bedroom
5
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
4252 Square Feet
Property Description
Towering over the corner of Shotwell and West Streets since 1904, this home is a local landmark and a piece of Bainbridge history! Thomas C. Wainman, a northerner who moved South in 1893, erected the four story Wainman Hotel across the street in 1900, and using the same style architecture, built this transitional style brick home for his family. For 2 years, he acquired lumber, including the rare quarter sawn curly pine accents throughout the home. The bricks were locally made from Decatur County clay by L. F. Patterson. In 1918, ownership passed to Arthur S. Carr, then in 1931 to his son-in-law, Gilbert H. Gragg. It remained in the Gragg family until 1993 when it became J. Victoria's Gifts & Antiques, and was reverted back to a family residence in 1997. Your family could be just the fourth family to live in this stunning home! Every part of this home was built with the details in mind and state of the art technology of the time. Gorgeous hardwood floors, original windows, pocket doors, original hardware, incredible trim work, original radiators (disconnected), original marble fireplace surrounds, huge kitchen, original breakfast room, laundry room/prep kitchen with half bath, and overall an unbelievably modern and functional floor plan for a family, including both an upstairs and downstairs primary bed and bath. The foyer light fixture was Mrs. Gragg's mother's from the 1850s, and the living and dining room chandeliers were imported from France. The 1960s Schumacher wallpaper is in great condition, 1960s metal cabinetry, the sunroom and patio overlooking the fenced backyard, and an historic carriage house with upstairs apartment in need of lots of TLC but full of potential. This is truly a once in a lifetime opportunity to acquire one of the most stately, beautiful, and historically significant homes in Bainbridge. Call to schedule your appointment today! Note, potential buyers will need to have a lender's pre-approval or proof of financing to schedule a showing.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1904
MLS Number
--
Location
Address
104 Shotwell Street
City
Bainbridge
State
GA
Zip Code
39819
County
DECATUR (COUNTY)
Listing
Name
Phone
(850) 933-5305
Office Name
Office Phone
(229) 246-9837
Agent Name
Natalie Kirbo
Agency Phone
(229) 246-9837

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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.