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3260 Peyton Road
Coldwater, MS 38618
$765,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
2887
Property Description
Welcome to an equestrian's paradise on +/-67.00 acres in Tate County. Beyond the gated driveway you will discover this remarkable property consisting of a 2,887 sq. ft, 4 bedroom, 3.5 bath, 2 story house with a wrap around porch. The main primary bedroom and en suite is on the first level. The kitchen has an island and breakfast bar with a view of the great room. You will enjoy the view of the outdoor living space and pool from the comfort of the great room (with fireplace) and eat-in-kitchen. If you enjoy entertaining you will make good use of the formal dining room and separate den/living room. Upstairs there is another primary bedroom with ensuite, 2 guest rooms, another full bath, and a loft. The house is pre-wired for a 50 amp generator. The patio leads to the inviting covered outdoor living area complete with a stunning fireplace ideal for chilly evenings. Spend your summers lounging under the covered deck or by the 20x40 in-ground pool. There is also a spacious detached 23x21 craft room that would be perfect for party's or game night's. You will never have to worry about having enough parking with a 2 car detached garage (with a finished 2nd floor and a storm shelter), 1 car carport, and a large concrete parking pad. The beautifully landscaped yard is irrigated along with the orchard. You will find peach, plum, and nectarine trees in the orchard and a scuppernong grape vine. The impressive 35 x 127 horse barn has 7 stalls and includes an office with a 3/4 bath with full living capability, tack and feed rooms, wash bay (hot and cold), grooming bay, foaling stall, auto fly control, washer and dryer hook ups, and a 60x30 covered arena. One side of the barn offers 25x60 covered parking for horse trailers, tractors, or farm equipment. There is an 49x50 oversized metal workshop with electricity (110) and plumbing that has a 30x30 covered shed which is connected to a 35x36 woodworking shop, a greenhouse, and an enclosed irrigated raised bed vegetable garden. The 60x64 metal shed includes a 32x25 recreation room with a kitchenette, half bath, and an expansive covered area for tools and equipment and is wired (220). Another 13x16 shed provides even more storage. When the work is done you can enjoy fishing in the 3 beautiful stocked ponds (1 has a fountain, rock garden, and a Koi pond), or you might enjoy deer hunting in one of the many deer stands over looking immaculately mowed pastures. The front and back pond where just stocked with Crappie but were already stocked with Bass and Bream. The property 2 wells, water can be provided to the house from either well. Both wells had new motor pumps and pressure tanks installed in 2023. The potential for this unique property is unlimited; wedding venue, hunting lodge, hobby farm, or it could be subdivided and developed. Schedule your private tour today!
Property Information
Lot Size
66 acre(s) square ft
Property Type
Residential
Year Built
1994
MLS Number
4065965
Location
Address
3260 Peyton Road
City
Coldwater
State
MS
Zip Code
38618
County
TATE
Listing
Provider
Crye Leike, Inc., original listing
Name
Crye Leike, Inc.
Phone
(901) 550-2891
Office Name
Crye-leike Hernando
Office Phone
(662) 429-2442
Agent Name
Jane Massie

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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.