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Tbd Trents Chapel Road
Sneedville, TN 37869
Teresa Suarez with Creek Country Real Estate, original listing - (423) 733-9380
$397,500
Conventional
Property
Bedroom
--
Bathroom
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Property Type
Conventional
Square ft
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Property Description
Just a few short miles by paved road from the main highway, this 48+ acre rolling hills tract will provide an exceptional location for your dream residence or homestead farm. Located in the desirable Duck Creek Community of well-established homes and large manicured farms, the vistas driving through are truly enjoyable. Once you reach the property, your private driveway will lead you across gently rolling grassy fields and past interesting rocky outcroppings to the large cleared center of the property, where you might imagine the home of your dreams. Here you have an unobstructed panoramic view of the forest-covered mountain ridge, lush green in Summer, vibrant orange and red in the Fall, and clear, open skies above. There is plenty of space for outbuildings, and the land above and below it is suitable for grazing cows, sheep, horses, goats, etc. and has been grazed by cattle for generations. Most of the property is cleared except for a substantial wooded portion along the eastern boundary where you might see a deer or two. The woods drop down into a draw where a spring flows in wet-weather seasons. The neighboring property owner has rights to the spring, but you won't have to worry about water. The property includes a well and two animal watering stations, one near the top, the other near the bottom of the property. The well conveys and can be used for service to a home. The well was installed years ago by the current property owner and is pumped to animal watering stations on this property and property they own on the north side of the road. For this reason, the current property owner retains rights to the use of water from this well in perpetuity unless relinquished. Other watering stations, located on the same side of the road as this property, will be disconnected and capped after closing. The property has a current lease in place with a local cattle owner grazing cattle. Otherwise, there are not restrictions. The lease terminates 31 July 2024, at which time t
Property Information
Lot Size
48 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
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Location
Address
Tbd Trents Chapel Road
City
Sneedville
State
TN
Zip Code
37869
County
HANCOCK
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

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.