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12914 Farmgate Lane
Knoxville, TN 37934
$3,875,000
Conventional
Property
Bedroom
5
Bathroom
9
Property Type
Conventional
Square ft
8469
Property Description
This elegant masterpiece sits on one of the few double lots available in the luxurious Bridgemore subdivision. Just shy of one acre (.99) the space and privacy you'll enjoy in this home is truly breathtaking. The architect brilliantly designed the home to fit seamlessly with the land, and it is designed for you to relax intimately with family and friends, yet easily switch gears, and entertain on a grand scale! With custom finishes and crafted millwork throughout the 8499 sq ft home, you truly have everything needed to live the highest quality life. The open floor plan on the main level features a large office with custom cabinetry, and not one, but two comfortable living areas each with their own fireplace. Step outside onto the covered porch and enjoy the beautiful brick arches, with an outdoor kitchen and fireplace - perfect for entertaining guests on those amazing East Tennessee fall evenings. Back inside, find the spacious, gourmet chef's kitchen that is carefully curated for efficacious style. This space boasts double islands, a Thermadore range, double ovens, plentiful cabinet and counter space, a built in Miele espresso machine, an expansive walk-in pantry, butler's pantry, and an elegant formal dining room. Finishing out the main level is the primary bedroom suite; this wonderfully designed respite from everyday stresses has views of the woods, a luxurious spa bathroom, and custom double closets, making it the perfect place to unwind. The 2nd level of the home boasts three additional bedroom suites with three full bathrooms, and a large bonus room complete with a wet bar. This floor is designed for your family to have their own spaces to relax in. There is also a surprise on the second floor! There is 951 sq ft of unfinished space that can be easily finished adding additional living quarters if needed (owners have plans). It is a space large enough to efficiently turn into whatever you want - this is such a wonderful bonus in a house of this quality! As we travel downstairs from the main level we encounter the entertainers dream, with a full sized bar and a huge entertainment area in which to watch the game or play games!! OR you can step away and relax in the exquisitely finished wine cellar. This level has so much to offer with rooms that branch off into a second laundry room with a built-in dog washing station, a workout room and full gym, another bedroom suite for your guests, a crafting station where you can store all your favorite holiday essentials, and more storage than you could possibly need!! Next we turn our attention to the crown jewel of this exquisite home - THE WORLD CLASS BACK YARD AND POOL!! - This outdoor space is amazing and the possibilities are endless. Relax in luxury as you enjoy the wooded park like setting, the gas firepit, swimming in the multilevel gunite pool and spa, or just sunbathing while enjoying the serenity of this private oasis. To the right of the pool is the beautifully manicured lawn that is perfect for playing ball or putting up a commercial sized tent and having a ball! Just another example of how this home can seamlessly switch from living your best life with your family and hosting the best party in Knoxville! Please reach out to the list agent to schedule your private showing.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2017
MLS Number
1260647
Location
Address
12914 Farmgate Lane
City
Knoxville
State
TN
Zip Code
37934
County
KNOX
Listing
Provider
Realty Executives Associates, original listing
Name
Realty Executives Associates
Phone
(865) 588-3232
Office Name
Realty Executives Associates
Office Phone
(865) 588-3232
Agent Name
Sam Winterbotham

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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.