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6990 Blacks Bluff Road Sw
Cave Spring, GA 30124
Scott Ferguson with Keller Wms Re Atl Midtown, original listing - (404) 604-3100
$150,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
SCREAMING HOT DEAL! 6990 and 6982 Blacks Bluff Road will be sold together for a total price of $450,000. Two deeded side by side waterfront properties with a profitable income at 6982 producing excellent rated short-term rental, i.e. Airbnb, VRBO. This property is 1-acre and has a partially constructed outbuilding. The building is 28x28 square feet not including the loft area. The roof currently has underlayment over the decking. Insulation and metal roofing is on site and ready to be installed. The property already has a power pole with meter, water meter, an established address, and a winding gravel driveway. This site has breathtaking views of the water below down to a 12x20 floating dock. The purchaser will need to add a septic system and get the proper building permits from Floyd County Building Inspections and Code Enforcement to complete this project. The second property (FMLS 7440556) is a 720 square foot cabin with a loft that sleeps 4. One full bath downstairs and a half bath in the loft. This quiet getaway cabin boasts a full kitchen with stainless steel appliances, a stackable washer/dryer, electric hot water heater, insulated bathroom, 200-amp electrical panel, 10-inch tongue in groove pine flooring, 6 inch wide by 8-inch-tall square log construction with perma-chink pitch and mortar, 3 heat sources (2 ton split AC/heat unit newly installed in summer 2022, baseboard heat and glass-door wood burning stove). The cabin sits on 1.5 acres with a fishpond to the right that is stocked with catfish, bream, bass and crappie. Enjoy your morning coffee or evening beverage on the wrap around deck that has a beautiful view of the water. Situated on a bluff overlooking Big Cedar Creek that feeds to Coosa River and Lake Weiss. The 8x20 floating dock is easily accessed down a gentle slope from the cabin. From the dock your boat is navigable from Big Cedar Creek to Brushy Branch, Coosa River and all of Lake Weiss. Launch your boat less than 1 mile away at Brushy Branch State Park and you can navigate to the cabin within 10 minutes. This cabin is termite treated, the septic system has been recently inspected and serviced in spring 2024. There is a 6x8 storage building to store your supplies. The serene environment is breathtaking as you enjoy grilling, fishing, campfire, and the outdoor bed swing. Please be advised that this cabin comes complete with all furnishings, dishes, cookware, kitchen supplies, linens, etc. Your short-term rental income could begin on the day of closing. All rental income history is available at the buyer’s request. These two properties are located in the coveted northwest Georgia territory, 10-minutes away from historic Cave Spring, and 20 minutes away from downtown Rome. They are private, quiet and awe-inspiringly beautiful every season of the year.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Land-Other
Year Built
2019
MLS Number
--
Location
Address
6990 Blacks Bluff Road SW
City
Cave Spring
State
GA
Zip Code
30124
County
FLOYD
Listing
Name
Phone
(404) 604-3100
Office Name
Office Phone
(404) 604-3100
Agent Name
Scott Ferguson
Agency Phone
(404) 604-3100

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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.