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26 Lawrence Avenue
Potsdam, NY 13676
$217,500
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2356
Property Description
Centrally located in the village, this spacious home has plenty of room for hosting celebrations and family gatherings, backyard barbecues, quiet evenings sitting on one of the two large porches, or snuggling up with a good book next to the wood stove in the den. With 4-5 large bedrooms and lots of office, closet and storage space, it’s just waiting for a family to move in and to enjoy all this house has to offer. There are wood floors throughout with light-hued newer hardwoods on the first floor and the original honey colored six-inch pine boards on the second. For the avid cook, the recently renovated and wonderfully appointed kitchen is immediately adjacent to a large, open dining room. Both of the full baths, one up and one down, have also been updated: the downstairs one has been done in a more classical style, complete with wainscoting, pedestal sink and an antique claw-footed cast iron tub; upstairs is a more contemporary bath featuring pine tongue and groove planking and a large, tiled walk-in shower. A generous laundry area with washer, dryer and plenty of shelving is also located on the second floor, convenient to the upstairs bedrooms and bath. The full basement has plenty of headroom and storage and could be used as a small hobby shop. The large, unfinished attic has potential for even more living space, or as just the place to store all those things you might not yet be ready to part with! The two-bay garage stands separate from the house, has plenty of storage in the second floor loft area and has a large, well-lit artist’s studio in the back of the building. All of this is situated on a nearly one full acre-sized, deep lot that immediately adjoins the public school campus, yet the back yard is private and shielded by a wooded area, bounded by a small brook. Convenient to the schools, hospital, the college campuses and to downtown shopping, this house is in move-in condition and ready to become some lucky buyer’s home.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1918
MLS Number
49665
Location
Address
26 Lawrence Avenue
City
Potsdam
State
NY
Zip Code
13676
County
SAINT LAWRENCE
Listing
Provider
Plumley Real Estate LLC, original listing
Name
Plumley Real Estate LLC
Phone
(315) 265-6720
Office Name
Plumley Real Estate LLC
Office Phone
(315) 265-6720
Agent Name
Donald Borsh

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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.

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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.