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2495 Highway 131
Thorn Hill, TN 37881
Teresa Suarez with Creek Country Real Estate, original listing - (423) 733-9380
$138,000
Conventional
Property
Bedroom
2
Bathroom
Full: 2
Property Type
Conventional
Square ft
960 Square Feet
Property Description
Set upon an ample 1.86 acres this home offers a good-sized front yard that sets the home back from the road. A nice front porch sits above the landscape overlooking the countryside and the mountains to the north. Inside, the design of the home is very open and spacious in the living areas with lots of privacy to the bedrooms. A large kitchen with nice contemporary cabinetry and lots of countertops is somewhat tucked away to the side, a little hidden from view. It's an attractive kitchen that lays along the front of the home with a good-sized dining area directly across from it to the back side. The living room is full and it feels that way. It has large windows, and there's room for full-sized furnishings. I found it to be an especially nice open style living, dining & kitchen arrangement. Two bedrooms with good closets, each with their own baths, are separated to the far ends of the home, to the left and to the right. A full laundry room is tucked in beyond the dining area wall. Its back door leads out from there with only 3 steps down to the ground. This is a nice place to add a ramp or a walkway for convenience coming in from the where the car is parked. It's private back there as the hill rises up to the crest where there's an extra flat landing. All of the roads leading to this home are good state or county roads. The location is very convenient. To the west you reach the 4-lane highway for a very scenic, comfortable drive into the towns of Rutledge or Morristown. To the east, if you enjoy traveling across the mountain (many of us actually do), you can turn to the right at the nearby Dollar General and take that mountain road to Hwy 11W, which is very level. It's a fast track from there into Rogersville or Morristown. But most likely, you'll turn left at the DG and drive the gently rolling 3-4 lane Hwy 31 right down to the river and straight into Sneedville in 15 minutes! There you'll always find just about everything you'll need: Groceries, gas, banks, convenience stores, a library, the co-op, the county courthouse, and medical facilities, and a really nice regional hospital. The home is in good condition, on public water, with a septic system. High-speed internet fiber cable, from Powell Valley Electric is already connected for the current owner. This property only qualifies for a cash purchase. It is NOT eligible for VA, FHA USDA or Conventional Financing. However, if your credit is good you might qualify to assume an existing private mortgage with a substantial down payment of about 50%. All showings are strictly by appointment. You must be accompanied by your agent. We will be happy to help you if you are not already working with an agent of your own.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential-Mobile Home
Year Built
2013
MLS Number
--
Location
Address
2495 HIGHWAY 131
City
Thorn Hill
State
TN
Zip Code
37881
County
GRAINGER
Listing
Name
Phone
(423) 733-9380
Office Name
Office Phone
(423) 733-9380
Agent Name
Teresa Suarez
Agency Phone
(423) 733-9380

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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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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.