Home for Sale at 3208 Paddock Road, Covington, GA 30014

3208 Paddock Road
Covington, GA 30014

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Property Details

List Price:	$575,000
Beds:	3
Baths:	3
Status:	Active
SqFt:	2109
Agency:	Keller Williams Atlanta Partners

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Description/Comments

Lot Size:	5 acre(s)
Property Type:	Residential
Year Built:	1986
Notes:	Gorgeous 5-acre estate in Walton County with gated entrance. The acreage is open with plenty of room for pasture and could easily be used as an equestrian property once fenced. This log home has been meticulously maintained by its current owner and compliments the natural surroundings. One of the first things you will notice is the 4-side wrap around porch, giving you panoramic views of all this lovely property has to offer. The home features 3 bedrooms, 2.5 baths and a large laundry room. The primary bedroom is on the main floor. The large open family room with stone fireplace and wood insert welcomes you the minute you walk inside and is open to the dining room. The eat-in kitchen has loads of cabinets and workspace and the owner will leave the refrigerator that is in the kitchen. This estate also features a secondary driveway leading to a barn which is approximately 35 x 20 in size and has electricity and water. The barn has an attached shop which could easily be used as a tack room should you want to utilize the barn for horses or could remain as a workshop-type barn. Family gatherings will be memorable under the outdoor pavilion with ceiling fans. Additionally, there is a 2-car detached garage. The property sits in Zone-5 so you can choose between Walton County or Social Circle school districts and is close to all the area has to offer including a view of Alcovy Mountain and a short drive to beautiful Downtown Monroe with its great restaurants and shopping.
MlsNumber:	1014021

Listing Provided By:	Keller Williams Atlanta Partners, original listing
Name:	Keller Williams Atlanta Partners
Phone:	(678) 808-1300
Office Name:	Keller Williams Realty Atlanta
Office Phone:	(678) 808-1300
Agent Name:	Kasey Prince
Disclaimer:	Copyright Â© 2024 Athens Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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.

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.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing