Home for Sale at 12796 Opalocka Drive, Chesterland, OH 44026

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12796 Opalocka Drive
Chesterland, OH 44026

Kymberley Ladow Hackle with Howard Hanna, original listing - (440) 286-4111

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Property Details

List Price:	$275,000
Beds:	3
Baths:	Full: 2
Status:	Active
SqFt:	1212 Square Feet
Agency:	Howard Hanna
Agency Phone:	(440) 286-4111

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Description/Comments

Lot Size:	0 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1956
Notes:	What an amazing Ranch in Chesterland on a great side street! 3 bed 2 Bath lovely home with full basement and oversized 1 car garage with amazing yard on half an acre. City Sewer, Systems are serviced regularly, basement is partially finished with a full bathroom with a place for another bedroom or office and a full family room with a dry bar. New Windows in Lower Level can be removed for egress. Tons of storage throughout the home. Natural Gas Furnace with Air Conditioning. Very wooded lot with no rear neighbors due to a ravine in back yard. All appliances stay including washer and dryer. Roof - Sept 2024. Gutters Sept 2024. Updated Electric panel-2015. Furnace -2015. A/C - 2017 Ducts cleaned 2017. Hot water tank 2018. Kitchen is oversized with 2 sky lights letting in wonderful light. Kitchen also boasts plenty of cupboards and counters. Most of the floors in the home are hard wood - have been stripped and restained and are in great shape. Living Room has a fireplace with insert and amazing views out the picture window. Current owner has bird feeders set up out picture window and there are 46 species of birds that have come to the yard. Both Bathrooms are updated. Main floor bathroom is a walk in full sized shower. Lower-level bathroom has a soaking tub and shower. All main floor bedrooms have blinds and good sized closets and sunshine pours thru the windows. Garage has room for everything, drive is paved. Back yard use to have a pool so there is some leftover decking from that. Covered front porch.
MlsNumber:	--
ListingId:	11379819

Listing Provided By:	Howard Hanna, original listing
Phone:	(440) 759-4248
Office Phone:	(440) 286-4111
Agent Name:	Kymberley Ladow Hackle
Disclaimer:	Copyright © 2024 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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.

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