Tucked away in the hills, just a short drive from Highway 515 down a scenic country road, the neighborhood of Madison Ridge has established itself as a popular little neighborhood of nice, newer homes in Jasper, Georgia.
Originally platted for approximately 88 homes on acre-plus lots, only thirteen homes were actually built before the downturn in the local real estate market hit. All 13 houses were subsequently foreclosed on by lenders holding the various construction loans, and all 13 foreclosure homes have since resold to either private buyers or investors.
Due to most of the bank-owned homes being unfinished at the time of sale by the lenders, the prices paid by the buyers were relatively low -- ranging from $150,000 to the low $200,000's, versus previous list prices that were in the low- to mid-$300's. However, with the remaining work now completed by the new owners, reasonable resale prices are likely to fall in the $250,000+ range, depending of course on square footage and finishes. (As of this writing, there are already three such resales on market.)
The homes are similar in design, finish and size, with concrete siding and a stone or brick facade on the exterior, and interiors that offer some of the finishes one would expect to find in this price range -- hardwood floors, granite counters, stainless steel appliances, fireplaces, vaulted / treyed ceilings, etc. With the exception of one slab home, all houses are built on a basement and have exterior decks and/or porches. As mentioned, lots are all a minimum of one-acre, professionally landscaped in front and wooded in the rear.
There are no community amenities at this time. The development was originally planned and marketed as a swim / tennis community, but the financial difficulties faced by the developer when sales slowed apparently put a halt to these plans. It is unknown whether they will be re-instituted at any time. Likewise, the recorded covenants and restrictions called for a Madison Ridge Homeowner's Association, but as of this writing I am not aware of any such association having been established, nor of any fees being collected to this end.
Utilities are all underground, including electric, phone, cable and DSL. While Madison Ridge is served by public water, public sewer is not available, so all homes are on private septic tanks (not unusual for Pickens County). Likewise, gas service, if desired is in the form of propane tanks, rather than natural gas.
As one of Pickens County's newer developments, and one in a convenient South Pickens County location with some potential for future growth, Madison Ridge offers a unique buying opportunity for anyone looking in this price range.
For more information about available homes for sale in Madison Ridge, the neighborhood itself, or other real estate questions you might have, please feel free to call or email.