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Tbd Bridge Street
Branchville, SC 29432
Stan Swofford with True South Properties, original listing - (843) 547-1500
$1,042,800
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
Just outside the small town of Branchville sits the Edwards Lake tract. A generational family tract nestled on the longest black water river in the US, the Edisto River. The +/- 173.78 acre tract is the perfect mix of bottomlands, wet-weather ponds, tillable fields, and planted pines. This quality recreation tract is also convenient to coastal towns such as Charleston. Edwards Lake tract is tucked in next to a public dirt road providing a quiet and private access to the property. While walking this land it was evident that this farm holds a ton of deer & turkey as there is sign throughout. I have seen turkeys on every trip to this tract so far. Every field has worn deer trails leading into the thickets and I can imagine it is even more prominent when crops are in the fields. There are multiple wet-weather ponds tucked in the timber that should make excellent duck hunting especially with the proximity to the river. Additionally, there is +/-35 acres of tillable ground on the property that produces income through farmer rental. Besides the recreational benefits this property also contains high-spot along river that could be used for a multitude of purposes. This river access would be perfect for launching small boats and fishing the Edisto River for the famed Red-Breasted Sun fish. The uses for this property are endless but it seems perfect for a hunting camp. There is already a small cabin on-site with no utilities. The cabin would need to be fixed up and will be sold AS-IS. Notable features include: • 20 minutes to I-95 • 1.5hrs to Charleston • 1hr to Columbia • 1.5hrs to Augusta • Roughly 4,800ft of River frontage • Roughly 1,000ft of Road frontage on Bridge St. Shown by appointment ONLY.
Property Information
Lot Size
173 acre(s) square ft
Property Type
Land-Other
Year Built
--
MLS Number
--
Location
Address
TBD Bridge Street
City
Branchville
State
SC
Zip Code
29432
County
ORANGEBURG
Listing
Provider
True South Properties, original listing
Name
Phone
(843) 547-1500
Office Name
Office Phone
(843) 547-1500
Agent Name
Stan Swofford
Agency Phone
(843) 547-1500

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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.