Home for Sale at 353 Oakwood Drive, Sevierville, TN 37876

353 Oakwood Drive
Sevierville, TN 37876

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Property Details

List Price:	$925,000
Beds:	2
Baths:	3
Status:	Active
SqFt:	2698
Agency:	EXP REALTY LLC

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Description/Comments

Lot Size:	1 acre(s)
Property Type:	Residential
Year Built:	2000
Notes:	This recently upgraded 2-bedroom cabin, with 2 additional bonus rooms, is truly beautiful. When you enter the cabin, you will be welcomed by a large and spacious living area with high cathedral ceilings. The kitchen and dining room are open to the living area, creating an open and inviting space. On this floor, you will also find 2 bedrooms and a bathroom.<br /> <br /> The upper level of the cabin offers a very spacious suite with its own private bathroom. In this bathroom, you will discover a large soaking tub as well as a beautifully tiled walk-in shower. On the lower level, there is another bedroom and bathroom. Additionally, a fantastic gathering area awaits, complete with a wet bar, pool table, and plenty of seating to enjoy the large screen TV.<br /> <br /> This cabin provides plenty of deck space for you to fully embrace the beauty of the Smoky Mountains. Furthermore, there is a wonderful side area where you can indulge in the hot tub, outdoor games, and outdoor dining. This cabin truly has it all.<br /> <br /> The owners have recently made several upgrades and improvements. These include new luxury vinyl plank flooring on the lower level, fresh interior and exterior paint, and the conversion of the garage into a game room, among many other enhancements. For a complete list of all the upgrades and improvements, please refer to the attached document.
MlsNumber:	300196

Listing Provided By:	EXP REALTY LLC, original listing
Name:	EXP REALTY LLC
Phone:	(888) 519-5113
Office Name:	eXp Realty, LLC Nashville
Office Phone:	(888) 519-5113
Agent Name:	Susan Smith
Disclaimer:	Copyright Â© 2024 Great Smoky Mountains 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