Home on Eastern Lake with Pool and Putting Green for $366 per sq. ft.

[Walton Native]

Now $765,000 below appraisal done in April 2006 for Amsouth Bank. Beautiful 4br/3ba waterfront home in prestigious gated community of Lakewood Pointe Estates on Eastern Lake has been reduced to $1,199,900. The dock on the property offers a great way by boat to get to the beach. Eastern Lake offers fishing, relaxing sunset boat rides and skiing. The home is well built with large living areas and views of the Lake and the Gulf of Mexico. The kitchen is a chef's paradise and the openness of the large living room is great for entertaining. 3rd floor Master bedroom has a view of the Gulf, and a large Master bath with a 7 head shower, whirlpool bath and large walk-in closet. All upgrades, stainless appliances, and hardwood floors in the living areas. Downstairs rooms can be used for either an office, game room, or guest suite. There is a three car garage. For pure enjoyment pleasure there is a large pool and deck area, a dock on the lake, and even a large putting green. There is a third story deck off the Master Bedroom, and two large decks off the living room, front and back. Furnishings are negotiable. No other house with these amenities in this type of location even comes close to this value!!! This home is truly amazing!

Thanks for keeping this one in mind. We reduced it another $50,000. MLS 474872.


This is the link to the virtual tour
http://www.emeraldcoasttours.com/178lakepointedrive

 

[joehomes4me]

Nice property. The huge below appraised price caught my attention. However, when looking at www.zillow.com for the price it was purchased it shows 800k in 1/11/2005. Zillow, though a startup company which searches gov't records, amongst many other sources, I have not found it 100% accurate. Is zillow correct on this property?

thanks

 

[pgurney]

Nice property. The huge below appraised price caught my attention. However, when looking at www.zillow.com for the price it was purchased it shows 800k in 1/11/2005. Zillow, though a startup company which searches gov't records, amongst many other sources, I have not found it 100% accurate. Is zillow correct on this property?

thanks

For comparison sake, zillow shows comps (sales) in my area of Atlanta at roughly 1/2 of what recent sales have been and they aren't showing the number of sales. I take that back...I just looked again after about 2 weeks and they've updated to showing more recent pricing and sales. They may be a good service, but what they showed 2 weeks ago vs. today is a huge difference...both in the number of sales, but also in the prices.

 

[destinsm]

Nice property. The huge below appraised price caught my attention. However, when looking at www.zillow.com for the price it was purchased it shows 800k in 1/11/2005. Zillow, though a startup company which searches gov't records, amongst many other sources, I have not found it 100% accurate. Is zillow correct on this property?

thanks

George,

Check out your county property appraisser website... lots of info on properties... Don't know if this link will work, but try this.
http://64.234.218.210/cgi-bin/walton_display.cgi?KEY=19-3S-18-16180-000-0140&

Scroll down and sales of property are given to reveal...
01-10-2005 2649 1717 800,000 WARRANTY DEED QUALIFIED YES BOTSFORD DENNIS A & DEBRA A (H&W) BURGESS WILLIAM J & TASHA G (H&W)

So to answer you question, yes zillow is right... bought 1/10/2005 for $800k...

If the link doesn't work, go to...
http://qpublic.net/walton/
Click search records in left column...
Click search by location address...
Then type in the address...
Should pull up the info on whatever property you may be interested in...

Hope this helps!

 

[Walton Native]

That is correct that the home was bought in January of 2005 for the price mentioned. It is also true that the house six doors down (104 Lake Pointe Dr.) which the property appraisers office shows having 1,778 square feet on the main part of the lake but not having the amenities of 178 Lake Pointe and almost half the square footage sold in August of 2005 for $1,700,000. As I have mentioned before, the appraisal for Amsouth that was $1,965,000 really has no bearing on today's value. I simply use it as a point of reference for the change in the market. We were very lucky and pleased with the price we were able to buy the home at back in January of 2005. Thankfully this is one that appears to have gone up in value over the almost 3 years we have owned it mostly due to our lower than market purchase price at that time. We bought other properties at inflated prices that now have as much as almost 50% less value than when we bought them. I believe others on here have seen this home and have given positive feedback about the home and pricing even before the last price reduction. I welcome your feedback and appreciate all of you keeping it in mind.

 

[Walton Native]

Just bumping it back up to the top. Thanks for keeping it in mind.