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425 Cloverhurst Avenue W
Athens, GA 30606
$2,975,000
Conventional
Property
Bedroom
5
Bathroom
7
Property Type
Conventional
Square ft
5136
Property Description
Be prepared for this stunning lot to take your breath away, as there isn't a finer yard in Athens, and the views from the newly built covered porch are jaw dropping. Located on the most sought after street in Five Points, this beautifully renovated home offers an unassuming front elevation and continues to surprise you as you walk from room to room. The extra deep lot is only one of a few on the street, and the homeowners have lovingly designed and landscaped a private oasis with a gorgeous water feature, stone patio and gardens. Offering 5 bedrooms, 4 full and 3 half baths, this home capitalizes on natural light with an abundance of windows, allowing views of the gardens from most every room! The main level welcomes you with a classic foyer opening into a spacious Living Room with a gas log fireplace and beautiful formal dining room. A private brick patio is accessed from a classic french door in the dining room. Stained French doors open from the foyer to a rear corridor which leads to both the owner's suite and private guest quarters with an en suite bath. The owner's suite features a fully renovated bath with a spacious marble tile shower, soaking tub, double vanity and a separate lavatory. A bright, white kitchen with custom cabinetry, bar seating and beautiful countertops opens to both the breakfast room and vaulted family room. The graciously sized everyday living space opens into a stunning service area with herringbone brick floors. This space boasts a powder room, laundry room and stunning wet bar. A hammered sink and glass front cabinets accent the wet bar, along with an ice maker and wine cooler. To complete this perfect entertaining space, French doors open onto both a side porch for grilling with a permanent gas line, and the large covered patio which provides sweeping views of the private lawn, and has a wood burning fireplace for the colder months. The upper level is home to two large bedrooms sharing a full bath, with each suite having its own lavatory and vanity. Walkable attic space spans the entire front of the home and provides unlimited potential should the next owner want to add more bedrooms or additional living space upstairs. A private terrace level provides a large bedroom, a home office with a built-in desk and a large full bath. A 6th bedroom, currently used as an exercise room is also located on this level along with a large rec room. This classic Five Points home has been lovingly renovated and thoughtfully added onto to create an ideal home on one of Athens' finest streets.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1937
MLS Number
1016490
Location
Address
425 Cloverhurst Avenue W
City
Athens
State
GA
Zip Code
30606
County
CLARKE
Listing
Provider
Chastain, Jenkins & Leathers, LLC, original listing
Name
Chastain, Jenkins & Leathers, LLC
Phone
(706) 559-4520
Office Name
Corcoran Classic Living
Office Phone
(706) 559-4520
Agent Name
Mary Catherine Smith

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HUD Foreclosures

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.