Bring Your GPS to Navigate this Monster Foreclosure in Alpharetta
categories: Alpharetta Real Estate, Foreclosures, Milton Real Estate, Self Promotion
You need your GPS not to find this house, but to navigate the inside once you get there. There is so much square footage, so many rooms and so many hallways (and closets) that it lead my nine-year-old to comment: Dad, can we buy this house? It would be great to play tag and hide and go seek…no one would ever find you!
This foreclosure in prestigious Atlanta National (in the golf course section) is a foreclosure among foreclosures. Truly, I don’t believe that you will find more high-end finished square footage for the dollar than this house. And I guarantee that you will not find this floorplan anywhere else. No one will say your house is cookie-cutter.
The house itself is over 6,000 square feet, although it feels more like 8,000. That is probably because the ceilings are so high in so many rooms. The exterior is four sides hardcoat stucco with a tile roof. On the inside you have six bedrooms and a ton of bathrooms. There is a mud-room / pantry / office that is the size of most kitchens and a room for most every other purpose too.
My favorite part is the grand two-story covered back porch overlooking the nice swimming pool - with diving board. You don’t see diving boards much in this day of insurance claim fear.
$1.6 Million Dollar Price Reduction
The numbers on this house are that it originally sold for $1.8M in 2002 when initially constructed. It was put on the market by the owner at $2.4M a year ago and then gradually reduced in price to $1.65M as it didn’t sell. The bank apparently took the property earlier this year and put it back on the market at an eye-popping $808,900. That is 33% of the initial list price. I’m not saying the house was ever going to sell for $2.4M, but it is DEFINITELY well worth $808,900 for that amount of space and character.
There are of course some negatives in the house. The master is not huge and the kitchen could use a little spiffing up. But there is a theatre in the basement, an elevator serving all three floors, a wet bar in the basement, and a five-car garage. It is one of the few homes with a pool that I’ve seen recently that has a well thought out bathroom right off the patio with a toilet and shower for after pool use.
Did I also mention that there is an 900 sq. ft. au pair suite (bedroom, bathroom, kitchen, living room) above the two-car detached garage, that, by the way has bays large enough for RV parking?
The question with this house is not whether it is a good value or not. It is whether you like the style and funkiness of the house. A client who I showed it to said it was actually too big. Of course my son disagreed. He said there were whole areas of the house that the kids could rule and grown ups would never have to come!
There is another good pre-foreclosure buy in Atlanta National (on the non-golf course side) at $699,000 with a full finished basement and level back yard. Also, in Wood Valley, there is also a foreclosure listed at a crazy $599,900 on a great golf course view lot. The house needs a good face lift though, and I’d think you could buy it at a significant discount. By the way, here is a shameless self promotion: I have a house on the second fairway listed for only $529,000 that is move-in ready and a great value, too.
I want to write more about these foreclosures, but time is short today. Please feel free to call me to discuss on the phone if you want more details about these or any other foreclosures in the Alpharetta area.
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808k for 6000 feet in Crabapple? In Atlanta National?With a pool (and diving board!)? Man, what a deal. I think now be about time to buy. The one I want is a foreclosure listed at 13045 Freemanville-another funky looking house/castle. Trulia said it sold in ‘07 for 240k; Zillow said it’s last sale was for 300k. It’s listed for 999k Got any scoop?
I meant to say “may be about time to buy”
Darn, looks like 13045 Freemanville is under contract.
Looks like the castle is under contract!!
It looks like a beautiful house and I love high ceilings and the design on the back of the home looks amazing I could see myself entertaing here. There are definately some gems out there and cost is going down and this would be a great opportunity for someone.
This home sold for $905,000 and was listing at $808,900 or 112% of list price in 12 days on the market at that price.