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254 Padgett Lane
Turtletown, TN 37391
Sherry Rennie with Tru Mountain Realty, LLC, original listing - (706) 632-0367
$3,899,000
Conventional
Property
Bedroom
5
Bathroom
Full: 5, ½: 1
Property Type
Conventional
Square ft
5000 Square Feet
Property Description
Exceptional Luxury Living! Seize a rare opportunity to shape your vision with this extraordinary estate, a masterpiece of luxury and natural beauty, set on 121.8 acres. Surrounded by breathtaking mountain views, this property offers unmatched versatility and elegance, all within a setting that boasts an abundance of outdoor activities. Whether you're seeking serenity or excitement, this property places you at the heart of it all. The estate offers zoning flexibility, with part of the land zoned for agricultural use and the remainder designated as forestry within the greenbelt, providing limitless possibilities. A gated entrance ensures the utmost privacy and security, making this estate a peaceful retreat. At the center of the property is a luxurious 5100 sq. ft. Farm house home with rustic touches, where comfort and elegance come together. Custom Kitchen with granite coutertops, Rough Sawn Wood Floors for a rustic elegance. Custom touches are thruout the home making the home comfortable and appealing. There is even a ''grandkids'' Bunkroom and flex finish space above the garage which is fully finished. Whole home generator. Pole Barn with full hookups for 2 RVs . Guest house for multi-family living or rental .(1BD/1Bath) with loft. Basement also for multi family living. Old Farmhouse from 1934 on property and could be remodeled for a rental income. Older fully functional barn on Property that will house a full size tractor. The parcel of 63.5 acres is fully fenced and can be used for livestock. The back acreage has been cultivated for the hunting enthusiast with hunting houses and food plots in place. There is also an old camper(remodeled for a hunting overnight) under a pole barn in the back of property with possible lake if repaired. Electric in place. This is a rare opportunity to own such a large home and parcel, Come View your dream before it is gone.
Property Information
Lot Size
121 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2021
MLS Number
--
Location
Address
254 Padgett Lane
City
Turtletown
State
TN
Zip Code
37391
County
POLK
Listing
Name
Phone
(239) 340-8675
Office Name
Office Phone
(706) 632-0367
Agent Name
Sherry Rennie
Agency Phone
(706) 632-0367

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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.