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429 Mcanally Rd
Thorn Hill, TN 37881
Julia Hurley with Just Homes Group, original listing - (865) 314-7653
$4,000,000
Conventional
Property
Bedroom
6
Bathroom
Full: 7, ½: 4
Property Type
Conventional
Square ft
--
Property Description
Imagine recording hit country music songs in the basement, entertaining super stars, creating a hunting lodge, hosting the county graduation events, riding horses through your fields and grazing cattle all while sipping hot tea off your back porch taking in the full 360 mountain views... this property has the history of all of this and is available to recreate a utopia for anyone who has a vision. With nearly 250 acres of land, this creative paradise offers hiking and hunting pathways and trails, a guest house, tennis court, pool and pool house, along with fenced in outdoor areas for horses and cattle. Additionally, private offices, private stairs for owner entry for entertainment, separated bed/bath for main owner living, majestic mountain views from every room, chefs kitchen, separated party spaces, basement bar and dinner spaces, wine cellar, greenhouse and separated caretakers quarters all on the main level in addition to three separate entertaining spaces, formal dining, offices, bedrooms and private balcony all on the main floor. Lower level complete with bar, entertaining space, four suite bedrooms, wine cellar, separate butlers entry and pantry, walkout access to land and laundry facilities. Continuing on to the guest house and pool house areas also connected to the tennis courts, this separated living quarters offer the possibility of a wedding venue with private quarter for guests and couples. Heavy coffered woodworking throughout the main home shows the craftsmanship and care of the design, displaying Tennessee granite in the kitchen from the local quarry, vaulted ceiling with heavy wood and hand carved beams open wood burning fireplaces for that country feel all available for the creative purchaser. All doorknobs carved from Italian Brass by hand. Some additional information for interested parties includes... tankless water heater, HVAC for caretaker suite is new, 7 total HVAC zoned, property comes furnished, home on low voltage relays, full boiler system has been disconnected however; all pieces have been preserved should buyer desire the old fashioned water heater option. Well house was cleaned in 2020 along with septic systems. Guest house and pool house along with tennis courts have quotes for full renovations to pass along to buyers. Whole property is on Greenbelt taxes. All wood crafted in the home is from trees taken off the property. Home has a switchboard that needs repair. Upstairs decking replaced in 2019. New garage doors 2020, new carpet 2020, flex drains 2022, high speed fiberoptic 2022, pond cleared 2023. Nearby attractions include Dollywood, Norris Lake, Elrod Falls, Panther Creek State Park, Clinch River Headwater and Mossy Creek Station.
Property Information
Lot Size
247 acre(s) square ft
Property Type
Residential-Other
Year Built
1980
MLS Number
--
Location
Address
429 McAnally Rd
City
Thorn Hill
State
TN
Zip Code
37881
County
GRAINGER
Listing
Name
Phone
(865) 237-7328
Office Name
Office Phone
(865) 314-7653
Agent Name
Julia Hurley
Agency Phone
(865) 314-7653

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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.