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122 N Gilmer Street
Lexington, GA 30648
Marina Lee with The Virtual Realty Group, original listing - (601) 874-0331
$322,500
Conventional
Property
Bedroom
3
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
1552 Square Feet
Property Description
Welcome to beautiful historic Lexington, a 20-minute drive to East Athens. This sweet, picturesque home originally dates back to the late 1700's with its wavy glass windows and rolling wood floors, it has had quite a history in its 200+ years. Located on a quiet Street in a beautiful park like setting among grand properties in the historic district. The house sits on a pretty green hill with beautiful old granite steps and a brick walkway leading up to a wraparound porch. The half acre yard is contained in the rear by an ancient stone fence, which makes it feel like your in a storybook setting. You can Enjoy the view on the screened in porch which is just off the kitchen. The kitchen has been updated to include quality stainless steel appliances, including a gas range and a stainless steel laundry center. Countertops are butcher block and porcelain tile, while floors are waterproof engineered to match the existing original floors of heart Pine and Oak. Also off the kitchen, you'll find a half bath. All Bathroom materials are all either marble mosaic or tile...No fiberglass shower stalls or LVP here! The primary enjoys an en suite bath with a wide deep soaking tub. There is a Jack and Jill bathroom with a shower between the two remaining bedrooms. The bedrooms are large and ceilings are high. The center hall is a room in itself with built in bookcases. All bedrooms open to the center room as does living room via a set of French doors. New HVAC using high-efficiency mini splits that have kept the house nice and cozy these cold days, while the tankless water heater and new attic insulation make for great efficiency. The roof is recent as is the paint, and the plumbing and electric have been modernized over the last 25 years. Lexington itself is a wonderful community of interesting people many of whom you can meet personally on Saturday mornings at the Rowdy Rooster in town. You will find Artists, retired UGA faculty and folks that have lived in the community for generations. The downtown is seeing a slow but sure Renaissance. The property represents an extraordinary value for the Athens area with it's history, style, quality and artfullness. Come and see!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1920
MLS Number
--
Location
Address
122 N Gilmer Street
City
Lexington
State
GA
Zip Code
30648
County
OGLETHORPE
Listing
Provider
The Virtual Realty Group, original listing
Name
Phone
(601) 874-0331
Office Name
Office Phone
(601) 874-0331
Agent Name
Marina Lee
Agency Phone
(601) 874-0331

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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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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.