REDUCED FOR QUICK SALE!  Priced $50,000 below appraised value.  Enjoy a gorgeous lake view from every window! This owner-designed waterfront home sits on approximately 2 level acres on a peninsula with over 500 feet of lakefront on a beautiful lake in Cherokee Village, Arkansas near the Missouri border. In addition to the house, the property includes a covered boat dock, a private beach, a 9 ft. x 14 ft. greenhouse with automatic roof vents and automatic watering system located in a beautiful flower garden with gravel pathways, a 10 ft. x 12 ft. storage building and professional low maintenance landscaping with automatic irrigation system. The property consists of two level landscaped lakefront lots, one of which could be sold or used to build a second home. The annual property tax for the home and both lots is only $1,816. The home has numerous special features, including three zones for heats pumps with back-up gas heating, four gas log fireplaces, ADT monitored alarm system (intrusion, fire and heat), central vacuum system, two water heaters with continuous flow system, water softener, upper and lower decks with a spa on upper (master suite) deck, large patio, RV accommodation (water, sewer, 30 amp. electrical service), wired for cable/satellite TV and high speed DSL internet. The 10 foot ceilings offer spaciousness and lots of light from skylights and numerous windows. Fourteen ceiling fans throughout the home help provide abundant air flow and heat/cooling distribution. The home is elevator ready and wheelchair accessible, but no elevator is currently installed. Flooring consists of plush carpeting, hardwood and tile. A lovely waterfall and pond greets visitors outside the front door and two cupolas add interest to the architecture. The kitchen is professional grade with stainless appliances including built-in side-by-side refrigerator/freezer, Jenn-air double ovens (convection and self-cleaning), Jenn-air gas stove (four burners plus two burner grill/griddle and down draft exhaust), two built-in microwave ovens, two large sinks with disposal, plus a 6 ft. x 2.5 ft. island with electric, sink and second disposal. Counter tops are imported Italian granite. Cabinets contain full extension pull-out drawers. The 2 skylights close automatically in the event of rain. In addition to the opening skylights and Jenn-air downdraft, heat and odors from cooking are removed by two hidden exhaust fans. The adjacent pantry contains a second side-by-side refrigerator/freezer as well as an upright freezer, full extension drawers and a tiled counter for sorting groceries. Adjacent to one end of the kitchen is the formal dining room, adjacent to the other end is the entertainment room. The formal dining room has access to the lower deck and looks out to the lake. The entertainment room also exits to the lower deck and contains a full wet bar with 2 small refrigerators and a beer tap. Across from the bar is a coffee station and a 25 bottle wine cooler, as well as a menu station with a small desk and computer drawer. Also in the entertainment room is a gas log fireplace and built-in cabinet for TV, electronics and tape/disc storage. The formal library has built-in bookshelves, two built-in desks/computer stations and a gas log fireplace. The library can be used as an extra bedroom for guests since it has its own private bathroom with shower and separate Jacuzzi tub. Bedroom 2 has its own bathroom and looks out to a peaceful grove of trees, the greenhouse, gardens and lake. The garden room has two skylights and 6 tall windows (two entire walls) looking out to the grove, greenhouse, gardens and lake. The opposite walls of the garden room have windows looking into a 10 ft. rock-lined spectacularly lighted waterfall which is open to the sky. The formal living room has a gas log fireplace and tall windows looking out to the grove, greenhouse, gardens and lake. The exercise room exits to the lower deck, has a closet for exercise equipment and a fully tiled 5 ft. x 7 ft. steam room with benches and shower. Bedroom 3 looks out to the patio and the lake and has its own private bathroom. Upstairs is the large master suite with sitting area, master bath with double brass sinks, private enclosed commode, large double shower and ample storage space. There is a walk through closet between the bedroom and the bathroom. Off the master suite is the upper deck with a Hot Springs spa and a great treetop view of the lake. Back inside the master suite is another gas log fireplace to warm yourself after using the spa on those chilly winter evenings. The large utility room is off the master suite and has a tiled clothes-folding counter with cabinets and drawers. There is also a sink for hand washing and presoaking clothes. The upper elevator shaft is currently being used for additional closet space, which can be easily converted for elevator use. The 25 ft. x 32 ft. heated and cooled extra large 3 car garage is fully finished with ample cabinets, sink and storage space and a tiled floor. A pull down ladder gives access to additional attic storage space. Cherokee Village is a quiet community in a rural setting, yet close to larger cities. Within Cherokee Village are two private 18 hole championship golf courses, seven private lakes, two community centers with pools and tennis courts, a fitness center, three restaurants, numerous churches, an extensive state-of-the-art medical center, a variety of businesses, a public airport with a 5000 ft paved runway and many clubs and social organizations. Golf membership fees, including unlimited play, are less than $1,000 per year for a couple.  Running through the village and the North Golf Course is the South Fork of the Spring River, offering additional fishing and water sports activities. Adjacent cities include Hardy and Highland. Nearby cities include the small college town of Batesville and Salem.  Nearby major cities include Mountain Home, Jonesboro, Little Rock, Arkansas , Memphis, Tennessee and Springfield, Missouri. Further information on Cherokee Village and the surrounding area can be found at www.cherokeevillage.org.  Furnishings are negotiable.  Seller will reimburse buyer, at close of escrow, up to $1000 for coach roundtrip airfare for two and rental car expense to visit the property.