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824 East Myrtle Avenue
Johnson City, TN 37601
$1,500,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
5472
Property Description
Tucked away in the heart of the beginning of Johnson City's Carnegie Land Development you will find 3.25 acres and a home with amazing opportunities. The Queen Anne charmer was built in the 1860's and has beautiful hardwood floors throughout. The grounds have the possibilities for a variety of different venues which will be left up to your imagination and creativity. The grounds are completely fenced and has a gated entrance, all monitored with security cameras. Three bedrooms each with a private bath. 4th bedroom is off the playroom & main bedroom. 18x32 formal dining room with access to the elevator and side patio with stone fireplace. Bay window overlooks the pool area. The formal living room is 16x32 and has a fireplace and double french doors that open onto the 15x26 front porch. The home is set up for southern entertaining at its finest. The library is aptly named with an abundance of bookshelves, gas fireplace. 3 car garage has a 990+ sq ft apartment with living & dining rooms, kitchen, bath and 2 bedrooms The possibilities of an Air BNB are endless. There are walking paths throughout the property, 16x75 pool with 380+ sq ft pool house, wading pool for children. There is a potting shed, firepit sitting area, garden area, private grapevine sitting area that could be a wedding venue. Showings can be made through Kathryn. Proof of funds or Pre-Qualification letter must be presented to set a showing appointment Buyer/Buyers Agent to verify all information contained herein.
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
1863
MLS Number
9964355
Location
Address
824 East Myrtle Avenue
City
Johnson City
State
TN
Zip Code
37601
County
WASHINGTON
Listing
Provider
Centruy 21 Pro Service, original listing
Name
Centruy 21 Pro Service
Phone
(423) 282-1885
Office Name
Century 21 Legacy
Office Phone
(423) 282-1885
Agent Name
Kathryn Wilder

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Keller Williams Realty - Johnson City
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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.