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1130 Lake Rutledge Road
Rutledge, GA 30663
$1,695,000
Conventional
Property
Bedroom
5
Bathroom
6
Property Type
Conventional
Square ft
6973
Property Description
Elegant Farm/Equestrian Lover's Dream Home - This luxury estate is built for nature enthusiasts who crave fresh air, space for horses and pets, gatherings with family and friends, and morning walks among the trees -- all just steps from your own front door. This elegant 7,000 square-foot Country French-style home boasts 5 bedrooms, 4 full baths, 2 half baths, hardwood floors, enormous and plentiful windows with custom plantation shutters, 3 fireplaces inside (gas/convertible to wood burning) and 2 out, heavy crown molding, soaring cathedral ceilings, chef's kitchen with granite countertops and island, keeping room with coffered ceiling and cozy fireplace, spacious laundry room, private-access office suite and a private staircase leading to a game room with barrel ceilings, wet bar and charming Juliet Balcony overlooking the garden. In addition to the main home, this property offers 3 guest cottages, a stable and beautiful pond with waterfall. The master suite is a study in serenity -- spacious with a wall of windows overlooking hardwoods, tray ceilings complete with accent lighting, a private entrance to the back covered porch and an entrance to a cozy private covered porch overlooking the forest with steps leading to the garden arbor. The large master bath has a jacuzzi soaking tub, large glass shower and 2 expansive closets/dressing rooms with built-in shelving/storage. The home embraces the outdoors with covered porches, a screened outdoor kitchen with fireplace and a terrace-level patio with fireplace. Inside, the terrace level is perfect for an in-law suite or teenager's paradise with a spacious living area complete with wet bar and fireplace, 2 bedrooms, an enormous, mirrored exercise room and private garage entry. It also offers a library/study space and wine closet. The home's main 2-car garage has 2 separate vehicle entrances, and another 1-car garage at the terrace-level. The move-in ready home is situated on 12.52 beautiful acres that deliver tranquil, uninterrupted views like no other. Indeed, this special place in the world offers 4 fenced pastures, 3 cottages, an arbor, a pond with waterfall, three-stall barn and a beautiful winding, paved drive connecting all dwellings. The best part is that the property adjoins the 5,804-acre Hard Labor Creek State Park - Georgia's largest with 24 miles of hiking and horseback riding trails, pristine golf course with pro club house, and a 274-acre lake offering paddling, fishing, and other amenities. The intrinsic value of this property with its main home, multiple dwellings and captivating gentle rolling landscape can be found in its ability to offer a refined living experience that cannot be duplicated. This property is not to be missed. Small Cottage: Quaint front porch, 750 square feet, living area, kitchen with stained glass window, bedroom and spacious bathroom/dressing room and back deck. Large Cottage: Covered front porch, about 2000 square feet, 3 bedrooms, 3 bath, bricked-floor kitchen with stove, oven, refrigerator, microwave appliances and keeping room with fireplace. The spacious living area offers abundant light, a bay window, skylight and wet bar. Carriage House: Perfect man cave, she-shed or art studio. About 1,000 square feet with open kitchen/sitting area, casual space/bedroom space with full bath and closet space, garage space. Overlooks pastures. The Carriage House also contains an ample closet that houses the property's 3 well pressure pumps (connected to a 236-foot deep well), ensuring easy access and freezing protection during the winter months. Use of the cottages/carriage house include grandfathered rights for long-term rent. Also County approval of a Morgan County Farmstay Exemption would allow short-term rental options. Stable: Three-stall barn with large tack room/closed feed storage, garage space for an ATV/farm vehicle. Two riding rings adjoin the stable. Piped water to 4 fenced pastures
Property Information
Lot Size
12 acre(s) square ft
Property Type
Residential
Year Built
2006
MLS Number
10282109
Location
Address
1130 Lake Rutledge Road
City
Rutledge
State
GA
Zip Code
30663
County
MORGAN
Listing
Provider
Madison Realty, Inc, original listing
Name
Madison Realty, Inc
Phone
(706) 342-0693
Office Name
Madison Realty
Office Phone
(706) 342-0693
Agent Name
Dianne Yost

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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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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.