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5490 Us 51
Pickens, MS 39146
Jim Walley with Walley Properties, LLC, original listing - (601) 477-3014
$539,000
Conventional
Property
Bedroom
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Bathroom
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Property Type
Conventional
Square ft
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Property Description
Nestled in the peaceful countryside, this expansive 101-acre property in Madison County, Mississippi offers endless possibilities for those seeking the tranquility and beauty of rural living. Boasting half a mile of road frontage along Highway 51, this property provides easy access while maintaining a sense of seclusion. Located nine miles north of Canton, MS, this listing is in the very desirable Madison County School District. Utilities are readily available through electric service provider Entergy Mississippi, Inc. and water provider City of Canton. PROPERTY / RECREATIONAL POSSIBILITIES. If you envision a private estate, a hobby farm, a hunting camp, or a weekend retreat, this land offers the ideal canvas on which to bring your dreams to life. Enjoy the abundant space, fresh air, and peaceful atmosphere that only the country can provide. This isn't just land; it's your opportunity to create a private paradise all your own. Towering hardwoods offer a picturesque landscape, providing both natural beauty and shade throughout the seasons. The gentle slopes and varied terrain make it ideal for converting into lush pastureland, perfect for grazing or equestrian pursuits. This land offers ample space for recreation. For outdoor enthusiasts, it is a dream come true, with well-established trails for hiking or ATVs, food plots, and opportunities for hunting or wildlife observation. Whitetail deer, turkey, and other small game animals typical to the Central Mississippi area are plentiful in this area. Plus... WHAT HAS BEEN, COULD BE AGAIN. A breathtaking 10-acre lake once graced this site many years ago and there is the potential for the future landowners to bring it back to life as a stunning centerpiece, perfect for fishing, kayaking, or simply soaking in the view. NEARBY ATTRACTIONS... CANTON, MISSISSIPPI. MD101 is mere minutes north of Canton, MS, home of the very popular twice yearly Canton Flea Market. Canton is a quaint town with an historic town square centered around the courthouse and ringed with locally owned restaurants and boutiques. ROSS BARNETT RESERVOIR: For the fishing or boating enthusiast, the 33,000-acre Ross Barnett Reservoir is 20 miles from the property. The Pearl River Valley Water Supply District manages the 33,000-acre Barnett Reservoir and the 17,000 acres surrounding the lake. Available activities on the lake include fishing, boating, skiing, and picnicking. Amenities at or near the lake include five campgrounds, 16 parks, 22 boat launches, three handicapped-accessible trails, two multi-purpose trails, a mountain bike trail, five marinas, and two golf courses. Game fish in the reservoir include largemouth and spotted bass, crappie, bream, catfish, striped and hybrid-striped bass. NATCHEZ TRACE PARKWAY: Looking for a relaxing Sunday afternoon drive by car or motorcycle? The Natchez Trace Parkway is about 20 miles from MD101. Maintained as a national park, the Natchez Trace Parkway is 444-mile recreational road and scenic highway that runs from Natchez, MS to Nashville, TN. With its many historical sites and leisurely and strictly enforced 55-mph speed limit, the Trace offers many opportunities for sightseeing, hiking, and even camping. It is also pet friendly. Visitors to the Trace can spend a few hours, or a few days exploring this well-maintained roadway. There is a Natchez Trace access point 20 miles from the property. LOCATION. MD101 is eight miles south of Pickens, MS and 15 miles south of Goodman, MS. Other cities and their distances from this listing are: Jackson, MS - 35 miles, Memphis, TN - 170 miles, Monroe, LA - 150 miles, Gulfport, MS - 200 miles, New Orleans, LA - 222 miles.
Property Information
Lot Size
101 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
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Location
Address
5490 US 51
City
Pickens
State
MS
Zip Code
39146
County
HOLMES
Listing
Provider
Walley Properties, LLC, original listing
Name
Phone
(601) 477-3014
Office Name
Office Phone
(601) 477-3014
Agent Name
Jim Walley
Agency Phone
(601) 477-3014

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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.