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12900 Lake Avenue 1512
Lakewood, OH 44107
Lisa Barrett with Schmidt Realty, original listing - (440) 526-0500
$189,900
Conventional
Property
Bedroom
1
Bathroom
Full: 1
Property Type
Conventional
Square ft
--
Property Description
Why rent a boring apartment when you can live in a condo on the shores of Lake Erie where everyday seems like you are on a permanent vacation. As soon as you walk through the door your main focus is on the beautiful treetop and lake view from the wall of windows. The main living area consists of a spacious living room and dining room that offers a sliding glass door to the private balcony, where you can enjoy a beautiful nightly sunset. A newly remodeled kitchen offers a brand new stainless refrigerator, a newer range and dishwasher and brand new white cabinets, quartz countertop and subway tile backsplash. Kitchen has a small dinette area where you can add a small table or use the extra space for kitchen shelving. The spacious bedroom has a large closet with barn doors and a window with a view of the lake. The bathroom was remodeled in 2020 and has a newer vanity and ceramic tile shower and flooring. Other updates include laminate flooring throughout the entire unit. The Carlyle offers many amenities including a game room, 24 hour laundry, 24 hour project room, a grocery market, Summer House Restaurant & Bar, salon with services for men & women, conference rooms, 2 party rooms, an outdoor pool, waterfront picnic area, 24 hour indoor pool and hot tub, gym, racquetball court, and sauna. The main lobby features a 24 hour staffed front desk and a modern and comfortable lobby. An assigned parking space and a storage unit comes with the unit. Close proximity to restaurants, shopping, entertainment, community park, public beach, worship, medical and highways. View Cleveland's skyline from the building, which is only a 10 minute drive.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Condominium
Year Built
1969
MLS Number
--
Location
Address
12900 LAKE AVENUE 1512
City
LAKEWOOD
State
OH
Zip Code
44107
County
CUYAHOGA (NORTHWEST)
Listing
Name
Phone
(216) 956-3787
Office Name
Office Phone
(440) 526-0500
Agent Name
Lisa Barrett
Agency Phone
(440) 526-0500

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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.