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340 W Mountain Drive
Rockwood, TN 37854
Joanne Mielenz with Wallace, original listing - (865) 342-4200
$3,500,000
Conventional
Property
Bedroom
5
Bathroom
Full: 4, ½: 1
Property Type
Conventional
Square ft
6363 Square Feet
Property Description
Nestled in the prestigious Grande Vista Bay community, this exceptional waterfront home offers panoramic views of Watts Bar Lake and views of the untouched and protected Thief Neck Island, perfectly positioned to capture stunning sunsets. Spanning 6,300 sq. ft., the open-concept layout with many custom design details. With floor to ceiling windows all along the back you have the great room, breakfast area and kitchen all looking out on the lake. The primary suite is an incredible space with private access to a wonderful morning porch, floor to ceiling windows have been designed for lake living, 2 walk-in custom closets offer so much space for all your clothing with double racks, The attached bath is one that dreams are made of with an oversized walk-in seated shower with glass block, or step in the heated jacuzzi tub, dual vanities with a makeup vanity along with heated floors. Soaring Ceilings in the great room area with stone fireplace and built in TV cabinet is a great place to watch your favorite show or your current read while enjoying the view. An attached enclosed sunroom is perfect for overflow with gas fireplace and a gas grill. The kitchen is seamlessly attached to the great room and is a true Chefs Kitchen made for easy entertaining with a Wolf 5 burner gas cook top, warming drawer, full refrigerator and full freezer, wall oven along with a microwave. You have plenty of storage. A large island allows space for food preparation also has a walk-in pantry. Open a bottle of champagne from your wine fridge while you wait for dinner. The large breakfast counter seats 6 and there is room to put a table if you would rather sit and look out at the lake. Formal dining area also has floor to ceiling windows what a great place to dine with family and friends. Home office is bright with the large window and 2 built in bookcases with French doors for privacy. Another bedroom is on this level with bath and access to the enclosed porch, it was converted into a pottery studio and is easily converted back. Hall half bath is great for company. Laundry room with quartz counter tops for your sewing or craft projects and a mud room complete this level. Upper level is a full bonus, or another office or use your imagination to convert it into a space just for you with a full walk-in attic for great storage. Make your way down the stone staircase to the huge Family/recreation room with built ins and full bank of windows to watch the activities on the lake and you can make your way outside to the stone patio a large firepit area or when the water is calling, mere steps away, this covered dock with lifts for boat and wave runners is where you can offer a sunset water cruise after a long day of play. Back inside are 3 large bedrooms, a Jack and Jill bath along with a hall bath makes this home so easy to bring everyone home for the holidays. Another laundry on this level and a very large unfinished storage area with outside access and all your equipment and more storage. With the main level attached 3 car garage with finished flooring and outside access to your fenced garden area to create and grow what you love. This estate is sitting on 2 lots that equal 2.31 acres. You can sell the lot if you do not want the space as it also can have a dock, or you can use your imagination on expanding what you would like to do with it. Your luxury escape awaits, close to everything within 7 miles but is away from it all in this active community where you can even boat to the Gulf.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential-Other
Year Built
2009
MLS Number
--
Location
Address
340 W Mountain Drive
City
Rockwood
State
TN
Zip Code
37854
County
ROANE
Listing
Name
Phone
(865) 599-6300
Office Name
Office Phone
(865) 342-4200
Agent Name
Joanne Mielenz
Agency Phone
(865) 342-4200

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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.