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3251 Rugby Pike
Jamestown, TN 38556
Dusty Wells with 1 Source Realty Pros, original listing - (931) 261-9752
$925,000
Conventional
Property
Bedroom
3
Bathroom
Full: 4
Property Type
Conventional
Square ft
4320 Square Feet
Property Description
Nestled in the heart of Tennessee horse, Country, and Rich in the history of bygone times, this house can easily become the home you have always dreamed of. Positioned halfway between Jamestown and Rugby, Tennessee this 9.2 +/- acres property features a 3 bd/4 bath home w/ attached 2 car garage, a detached garage/workshop w/ wood furnace, a stocked pond, and fruit trees, such as peach trees, apple trees, and blueberry bushes. Coming in at approximately 4,310 sqft this beautiful modern Greek revival style home with its Doric style columns accompanying a symmetrical façade with pedimented portico - is anything but stoic. This unique home consists of three levels: a main or ground level, a basement or lower level, and a second floor or upper level. Between these three levels, the home features 3 bedrooms, 4 bathrooms, 2 full kitchiens, 4 multi-purpose rooms, a sunroom, a sitting room, a foyer, a living room, a family room, a recreation room, and all the storage space/room you may ever need. The main level of the home enjoys 2 master bedroom suites w/ walk-in closets and adjoining bathrooms. The stunning main level kitchen with its granite countertops lies between the dining room and a spacious sitting room that accesses the enclosed sunroom. The dining room affords access to both the living room and the 425 sqft 2 car garage. The mostly finished basement level of the home features a large, full kitchen with a large recreation room with a nearby full bathroom, easily facilitating those large family and friends gatherings. This level of the home can comfortably accommodate not only potential access storage and the homes utility room, but any imaginable purpose. Craft room, art studio, office space, workshop, study, library, or even an entertainment room - their versatility can only be limited by the needs of their beholder. Second floor or upper level of the home features a common area, 2 multi-purpose rooms, a full bathroom, and access to attic space. Much like the rest of the home these rooms have limitless potential. Not far from the home stands the nearby 1,120 sqft (40' x 28') detached garage/workshop with its wood furnace - it is ready to tackle the challenge of your next project, no matter the weather. Buyers to verify all measurements.
Property Information
Lot Size
9 acre(s) square ft
Property Type
Residential-Other
Year Built
1985
MLS Number
--
Location
Address
3251 Rugby Pike
City
Jamestown
State
TN
Zip Code
38556
County
FENTRESS
Listing
Name
Phone
(931) 261-9752
Office Name
Office Phone
(931) 261-9752
Agent Name
Dusty Wells
Agency Phone
(931) 261-9752

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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.