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736 Cow Poke Lane Lane
Rutledge, TN 37861
Felix Valdes with Cherokee Lake Realty, original listing - (865) 471-8222
$794,900
Conventional
Property
Bedroom
2
Bathroom
Full: 3
Property Type
Conventional
Square ft
2653 Square Feet
Property Description
Sitting on 0.86 of an acre, this is an extremely rare opportunity to purchase a brand new, custom-built, NEVER-LIVED in home. The home was built for a government employee who will be relocating overseas and will not be able to move to Tennessee. No expense was spared in designing the house. 9' ceilings throughout the entire house, a very spacious open floor plan, lots of windows, and two individual bathroom suites on the main floor with great views of Cherokee Lake. A brand-new appliance package with an island sink, lots of cabinets, and granite countertops. An expansive, covered upper deck with majestic views of Cherokee Lake and the surrounding mountains. A split lower double-deck with even more views of Cherokee Lake. The owner's building plans were to convert the finished lower area into a sizeable main bedroom and have one of the deck areas screened. But, since the decision was made not to live in the home, the lower area has been completed as an entertainment/family room with an office. The new owner can decide whether to continue the original planned theme or leave it as is. A mechanical room, heated and cooled, can be utilized for storage or as a workshop. Two heat pumps individually control the temperature settings on the main and lower levels. There is nearly 4,200 square feet of house under roof. A tankless gas water heater provides instant hot water with the added economic savings of being gas as opposed to electric. The home has an inground 500-gallon propane tank. A bonus is that the tank is full as it has never been utilized. Public water is onsite and high-speed fiber internet is available. A very large garage which will accommodate two full-size vehicles, including a sink basin for rinsing off after a day of working in the yard. The exterior walls are HardiPlank siding, known for its durability and resistance to fading, unlike vinyl siding. Being a fiber cement product, it typically requires painting less often, every 10 to 15 years, unlike traditional wood siding which needs repainting every 5-7 years. Resident-only benefits of the Shiloh Springs community includes individual boat slips and a private boat launch ramp, both maintained by the resort. This allows you to use a dock without the cost of building one. Or the work and expense of having to maintain it. No need to stain or replace warped deck boards. No need to be constantly letting the dock out or bringing it in as the TVA controlled waters ebb and flow. No need to build a concrete ramp for unloading your boat. Jump in your golf cart and be at dock in minutes. Shiloh Springs also offers two private gated entrances, a picnic area, parking area by the dock, walking trails, and, if you don't wish to fill your garage with your boat, trailer, and/or jet skis, a storage area for parking your equipment.Located in Grainger County, with its scenic farmland but close to everything. Walmart in Jefferson City is 18 miles. Walmart in Morristown is 16 miles. Hospitals? Morristown-Hamblen and Jefferson Memorial are both 16 miles. Want more stuff to do? Knoxville, Tennessee's third largest city, is 41 miles. Want to feel like a tourist? Pigeon Forge, home to Dolly Parton's Dollywood and loads of restaurants and entertainment is less than 50 miles. Tennessee offers the advantage of NO State Income Tax and some of the lowest property taxes in the nation. Four full, mild seasons, within a day's drive of most of the nation, and the Great Smoky Mountains in its backyard. You can have all this and access to Cherokee Lake, with its world-renowned fishing, boating, and recreation activities! Live the Cherokee Lake Life!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2025
MLS Number
--
Location
Address
736 Cow Poke Lane Lane
City
Rutledge
State
TN
Zip Code
37861
County
GRAINGER
Listing
Name
Phone
(865) 471-8222
Office Name
Office Phone
(865) 471-8222
Agent Name
Felix Valdes
Agency Phone
(865) 471-8222

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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.