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408 S Main Street
Marion, SC 29571
$594,500
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3400
Property Description
This original yet renovated gated Craftsman style home with separate Carriage House has so much charm and character that everyday will feel as if you are staying at a great bed and breakfast! As you walk up onto the oversized wrap-around porch, sipping iced tea and entertaining will come to mind for cool Spring days and warm Summer nights. Walk through the front door and you will be struck by the very elegant and wide foyer with unique architecture including original wainscoting, moldings, and an impressive one-of-a-kind "round room" with built-in seating and stained glass. The home has five fireplaces all gas ready including one in large living room and one in the large formal dining room. Unique wood cabinetry and tray ceilings throughout. Began in 1907 with so much thought and care and eventually completed in 1912, this home was designed and originally owned by businessman Tom Wheeler from Michigan who brought his family to the south to escape the colder months of Winter and early Spring and to pursue opportunities in the low country. For a home rich in such history and tradition, he had the foresight to create a very progressive floor plan with a butler's pantry, large mudroom and utility room all located off the wonderful kitchen which today has an island/bar added to it. If the walls could talk they would be filled with rich memories and wonderful experiences through the years including Mr. Wheeler's friendship with Thomas Yawkey, owner of the Boston Red Sox for 44 seasons and creator of the 3 island wildlife reserve in Georgetown, SC today . The Carriage House doors open and reveal the second 750 square foot home including bath, kitchen living room on the main level and cathedral wood ceilings with interesting rafters and beams and an upstairs bedroom loft. Both bathrooms in the main house and the Carriage House are updated. Conveniently located in the heart of picturesque historic downtown Marion where the streets are lined with trees bearing Spanish Moss so characteristic of the South and less than 1 hour from Myrtle Beach, Florence and Lake City. There is public education for students or they can attend Carolina Academy or PD Academy . Take advantage of historic Georgetown on Winyah Bay for boating, shopping and waterfront dining and take day trips to Charleston. Enjoy local activities such as hunting, fishing, wildlife, parks and Farmers Market in Marion along with restaurants and shops within walking distance of this amazing home.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1912
MLS Number
20240552
Location
Address
408 S Main Street
City
Marion
State
SC
Zip Code
29571
County
MARION
Listing
Provider
Burt Jordan & Company Ltd, original listing
Name
Burt Jordan & Company Ltd
Phone
(866) 848-6835
Office Name
BHHS Burt Jordan Realtors
Office Phone
(866) 848-6835
Agent Name
Laraine Stevens

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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.