Welcome to Lakewood....
Homes first,
families second.
auction of lakewood landmark
Moderator: Jim O'Bryan
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STOSH BURGESS
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- Joined: Sat Apr 30, 2005 12:22 pm
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Donald Farris
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- Joined: Fri Mar 25, 2005 8:31 pm
- Location: Lakewood and points beyond
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Hi,
If the owner is unable to address the issues prior to the sheriff sale, does the mortgage company take over total ownership? I was just wondering because if the mortgage company has $ 150,000 owed to it on the house and this sheriff sale occurs, does the mortgage company get all the proceeds?
It seems that "well meaning" council people and local citizens could have helped this mortgage company turn their $ 300,000 investment into a windfall profit. If the fence is worth a Million dollars and the owners have already paid back $ 150,000 and the lot can be split and cluster homes built by either the mortgage company (or who ever purchases the property), it seems the Judge's ruling yesterday may stop the current owner from being able to satisfy the mortgage to stop the sheriff sale. If the auction would have been permitted to occur, the current owner could have sold the fence and some other items satisfied the mortgage obligation and had money to repair the home and keep it intact. Perhaps he still can with those personal property items the Judge is permitting to be sold. I was hoping the Judge would rule the Auction could occur but proceeds would be first directed to the State, County and City for taxes owed followed by the mortgage holder. This would have saw that nothing occurred that "hurt" the mortgage company. Without being able to sell the fence and the lawn fixtures (I'm removing my valuable flock of plastic pink flamingos from my front lawn tonight, sorry neighbors.) the current owner may be unable to keep that home. With a new owner, who knows what could happen to the property? It seems like easy money to raze the house and throw up cluster homes. I believe there would be a perverse justice to see the actions of these "neighbors" and historians to cause the very action they fear most.
If the owner is unable to address the issues prior to the sheriff sale, does the mortgage company take over total ownership? I was just wondering because if the mortgage company has $ 150,000 owed to it on the house and this sheriff sale occurs, does the mortgage company get all the proceeds?
It seems that "well meaning" council people and local citizens could have helped this mortgage company turn their $ 300,000 investment into a windfall profit. If the fence is worth a Million dollars and the owners have already paid back $ 150,000 and the lot can be split and cluster homes built by either the mortgage company (or who ever purchases the property), it seems the Judge's ruling yesterday may stop the current owner from being able to satisfy the mortgage to stop the sheriff sale. If the auction would have been permitted to occur, the current owner could have sold the fence and some other items satisfied the mortgage obligation and had money to repair the home and keep it intact. Perhaps he still can with those personal property items the Judge is permitting to be sold. I was hoping the Judge would rule the Auction could occur but proceeds would be first directed to the State, County and City for taxes owed followed by the mortgage holder. This would have saw that nothing occurred that "hurt" the mortgage company. Without being able to sell the fence and the lawn fixtures (I'm removing my valuable flock of plastic pink flamingos from my front lawn tonight, sorry neighbors.) the current owner may be unable to keep that home. With a new owner, who knows what could happen to the property? It seems like easy money to raze the house and throw up cluster homes. I believe there would be a perverse justice to see the actions of these "neighbors" and historians to cause the very action they fear most.
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Jim O'Bryan
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Auction contiues, everything for sale!
Over 250 people registered to bid! Over 500 have shown up!
Just got back from the auction and EVERYTHING is for sale, though many of the pieces will stay with the house, but the house is also for sale today.
Stop down and check out this piece of history, go through the house and let us know what you think.
The Observer has been fortuante to have all members of this discussion talking about their feelings, thoughts and beliefs openly on this board. Now let's hear your thoughts after you go through the house.
Jim O'Bryan
Over 250 people registered to bid! Over 500 have shown up!
Just got back from the auction and EVERYTHING is for sale, though many of the pieces will stay with the house, but the house is also for sale today.
Stop down and check out this piece of history, go through the house and let us know what you think.
The Observer has been fortuante to have all members of this discussion talking about their feelings, thoughts and beliefs openly on this board. Now let's hear your thoughts after you go through the house.
Jim O'Bryan
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Grace O'Malley
- Posts: 680
- Joined: Thu Apr 14, 2005 8:31 pm
Am I the first? No one else wants to talk about the house?
First, the lot is MUCH larger than it looks from Lake Avenue. It definitely could be two seperate, rather roomy lots.
The home itself was frankly unremarkable. No comparison to some other "mansions" I've been through, and not even particularly large.
As for condition, I hate to say that it is more of a "tear down" then a "fixer upper." Lots of water damage. Many of the stained glass windows are severely damaged. The kitchen had already been "modernized" but would need to be gutted.
As I walked the grounds and listened to people talk, there was a general undercurrent of talk that "this must have been beautiful at one time." And that is exactly how I felt. At one time, it may have been a grand home. Today, you would be hard pressed to justify the cost of renovation versus other alternatives.
Jim requested comments and this is my personal opinion after touring the property. Let's hear more.
First, the lot is MUCH larger than it looks from Lake Avenue. It definitely could be two seperate, rather roomy lots.
The home itself was frankly unremarkable. No comparison to some other "mansions" I've been through, and not even particularly large.
As for condition, I hate to say that it is more of a "tear down" then a "fixer upper." Lots of water damage. Many of the stained glass windows are severely damaged. The kitchen had already been "modernized" but would need to be gutted.
As I walked the grounds and listened to people talk, there was a general undercurrent of talk that "this must have been beautiful at one time." And that is exactly how I felt. At one time, it may have been a grand home. Today, you would be hard pressed to justify the cost of renovation versus other alternatives.
Jim requested comments and this is my personal opinion after touring the property. Let's hear more.
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Roxanne Smith
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- Joined: Thu Jul 21, 2005 1:29 pm
the Auction
Jim,
You asked so here it is....
I had the opportunity to go through the home this afternoon. I was disgusted and left crying. How could anyone let such a beautiful house go into such disrepair! ?
Plaster falling down, parts and peices missing, doors off cabinets, filth, grime, buckets to catch the water.
Why wasn't this home sold years ago? I can't afford to live in a mansion, so I don't. Sometimes I feel like I can barely keep up what I have.
It is so sad, so very very sad.
An extreme lover of beautiful old homes,
Roxanne Smith
You asked so here it is....
I had the opportunity to go through the home this afternoon. I was disgusted and left crying. How could anyone let such a beautiful house go into such disrepair! ?
Plaster falling down, parts and peices missing, doors off cabinets, filth, grime, buckets to catch the water.
Why wasn't this home sold years ago? I can't afford to live in a mansion, so I don't. Sometimes I feel like I can barely keep up what I have.
It is so sad, so very very sad.
An extreme lover of beautiful old homes,
Roxanne Smith
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Grace O'Malley
- Posts: 680
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Before we vilify Mr Lombardo, lets look at what we all deal with.
Roxanne said:
Part of the problem we all face in Lakewood, with its elderly housing stock, is the cost of maintaining these old structures. Updating the major systems in these homes (heating, electrical, etc,) usually involves major changes and adjustments and LOTS of money.
These houses were built when gas, water, and electricity was cheap. How many of you dread receiving your gas bill in the winter? Or your water bill in the summer?
How about your tax bill? Mine has about quadrupled since the early 1980's.
The point is that many people in Lakewood struggle to keep up with their house. I cannot even fathom what it must cost just to heat and light that huge house for one month, all while knowing that it will continue to increase.
Anyone of us, under certain circumstances, could end up in the same position.
Roxanne said:
Sometimes I feel like I can barely keep up what I have.
Part of the problem we all face in Lakewood, with its elderly housing stock, is the cost of maintaining these old structures. Updating the major systems in these homes (heating, electrical, etc,) usually involves major changes and adjustments and LOTS of money.
These houses were built when gas, water, and electricity was cheap. How many of you dread receiving your gas bill in the winter? Or your water bill in the summer?
How about your tax bill? Mine has about quadrupled since the early 1980's.
The point is that many people in Lakewood struggle to keep up with their house. I cannot even fathom what it must cost just to heat and light that huge house for one month, all while knowing that it will continue to increase.
Anyone of us, under certain circumstances, could end up in the same position.
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Stan Austin
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Here's another view: I do home repairs. In my tour of the property, house, attachements, garage, appurtenances, I was overwhelmed with what would be involved in any kind of reclamation.
For any of you who have tried any major remodeling you probably realize that it's much easier and less expensive to tear down and start over rather than working around old.
My tour brought pleasant fantasies of a simpler, more elegant time. I imagined that even if this property was in top shape it would require 1-2 full time employees for general cleaning and maintenance.
I unfortunately believe that to bring this property and grounds back would require about 1.5 to 2 million dollars.
For the number of people who have that kind of extra money there are probably many other alternatives as to how to spend it.
But as they say in real estate--- location, location, location. This has location.
Let's see what the outcome of the bidding was before we enter into the next stage of speculation.
Stan Austin
For any of you who have tried any major remodeling you probably realize that it's much easier and less expensive to tear down and start over rather than working around old.
My tour brought pleasant fantasies of a simpler, more elegant time. I imagined that even if this property was in top shape it would require 1-2 full time employees for general cleaning and maintenance.
I unfortunately believe that to bring this property and grounds back would require about 1.5 to 2 million dollars.
For the number of people who have that kind of extra money there are probably many other alternatives as to how to spend it.
But as they say in real estate--- location, location, location. This has location.
Let's see what the outcome of the bidding was before we enter into the next stage of speculation.
Stan Austin
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Jim O'Bryan
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Re: the Auction
Roxanne
Thank you for sharing your thoughts. I know it is very tough to see the house. I wonder if you were the woman walking past me on Nicholson crying when I walked up again at 1:00pm.
It is very tough to see a home like that is such disrepair. But I have to be honest about a couple things.
1) I went through a house just a couple blocks north west of that house, that is for sale. I must be honest, as bad as the Morse Faeber House is, I thought this other one was worse. Though nowhere near as costly to save, nor was it worth saving as the Morse Faeber House is.
2) While working on this story I have found a couple reasons why the house's owner fell on hard times, and I have to say, but for the will of God...
3) The fault still lies in all of us, that believe in saving Lakewood's historic properties, for not making sure the The Lakewood Historical Society is funded well enough to step in and buy the property and or the key pieces to marry to the property later.
This house did not fall apart overnight, and maybe some steps that could help in the future is more strident inspections of all Lakewood Homes. Certainly the pool falling apart could have sent a signal to a city worker. I know I was cited for a broken board on my garage, which was nothing more than a molding. Where was project pride on this?
We must now all work together to get the 95% of Lakewood that could be "historic" on the registry. This would serve two purposes; a) insure that homes are saved historically. b) Give homeowners needed tax credits as much as 50% to help with repair.
Finally I feel your pain and sadness. I wonder if the house can ever be brought back to it's glory days. It was a magnificent piece of property, that I fear as do you, might be gone forever.
Thanks for sharing your thoughts, you are not alone.
Jim O'Bryan
Thank you for sharing your thoughts. I know it is very tough to see the house. I wonder if you were the woman walking past me on Nicholson crying when I walked up again at 1:00pm.
It is very tough to see a home like that is such disrepair. But I have to be honest about a couple things.
1) I went through a house just a couple blocks north west of that house, that is for sale. I must be honest, as bad as the Morse Faeber House is, I thought this other one was worse. Though nowhere near as costly to save, nor was it worth saving as the Morse Faeber House is.
2) While working on this story I have found a couple reasons why the house's owner fell on hard times, and I have to say, but for the will of God...
3) The fault still lies in all of us, that believe in saving Lakewood's historic properties, for not making sure the The Lakewood Historical Society is funded well enough to step in and buy the property and or the key pieces to marry to the property later.
This house did not fall apart overnight, and maybe some steps that could help in the future is more strident inspections of all Lakewood Homes. Certainly the pool falling apart could have sent a signal to a city worker. I know I was cited for a broken board on my garage, which was nothing more than a molding. Where was project pride on this?
We must now all work together to get the 95% of Lakewood that could be "historic" on the registry. This would serve two purposes; a) insure that homes are saved historically. b) Give homeowners needed tax credits as much as 50% to help with repair.
Finally I feel your pain and sadness. I wonder if the house can ever be brought back to it's glory days. It was a magnificent piece of property, that I fear as do you, might be gone forever.
Thanks for sharing your thoughts, you are not alone.
Jim O'Bryan
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Cyndie Morgan
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- Joined: Thu Jul 14, 2005 1:05 pm
Let's be careful of using words like "vilify" especially for other people. I don't think anyone is trying to vilify or judge the owner. I think we are all just trying to understand what happened. I still believe, if you can't afford your home, sad as it might be - a responsible person moves into a home they can afford. As Jim said, this did not happen overnight and as I saw, we are not dealing with disabled homeowners. This home really should have been sold years ago. Roxanne, I was also incredibly sad as I walked through the home and around the grounds. What saddened me most is why do we feel such a need to hang onto "things". Now I know this is what the entire controversy is about - people saying that others think the house is more important than the family.
I would say it may have been the homeowner who put the house before the family. It's the people that make a home - not the house.
I am still hopeful that something good will be done with the property to maintain it and restore it. Although it is in terrible shape, it could still be a magnificient home for someone who simply loves old homes. I was also surprised, it was smaller than I thought it would be. However, the detail was amazing - the ceilings, woodwork, staircases.... I still believe it is worth saving although costly.
STOSH BURGESS wrote:Welcome to Lakewood....
Homes first,
families second.
I would say it may have been the homeowner who put the house before the family. It's the people that make a home - not the house.
I am still hopeful that something good will be done with the property to maintain it and restore it. Although it is in terrible shape, it could still be a magnificient home for someone who simply loves old homes. I was also surprised, it was smaller than I thought it would be. However, the detail was amazing - the ceilings, woodwork, staircases.... I still believe it is worth saving although costly.
cyndieinpc
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Jim O'Bryan
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mary ross wrote:
Again, it's only the house that matters? And what do you know of these homeowners to say that they put house before family? Just amazes me that people draw conclusions like this with no knowledge of the reality of the sad situation.
Mary
It is always easier to to "subjective" without knowing all the facts. The truth is I am really torn over this. I understand the people that are upset because the homeowner let the house go. But as I said, as I learned the story of how he fell from the top, I have to give him some credit for choosing his family over $$$$$. It is really an amazing story.
I also know more than one person that was laid off for a week, that went into years. During that time he did everything possible to keep his family in their home and their kids in school with friends. This is one thing many miss. The owner was so dedicated to Lakewood and it's schools he short cutted his home improvements. I have not met one person that does not believe he did a GREAT job with his kids, and raising his family.
I was talking with a friend on Edgewater, and we both were laughing that we were trying to get just one more year out of our roof. It should have been done last year, but just one more year would be great. Is this how the big fall from grace starts?
However, the reality of the situation is he has a house that would take a full time crew of 4 to keep nice. He should of bailed years ago, and bought something smaller and cheaper just north of him.
What amazes me about the homeowner is that he has met his foes face to face calmly and kindly. While some throw personal attacks he shrugs and continues. Even during the sale he seemed very at ease with the inevitable. I am not sure I would have that strength.
Still, the house is a jewel if it can be saved. But I cannot think of anyone that could afford that. The ceilings and tile WERE magnificent, but now need to be completely redone. The basement, well never mind.
Again I am torn by losing a house with what was a grand yard, right next to arguable one of the nicest yards on the Westside. But I have also slipped on the loafers of the homeowner and walked a mile in those shoes. It is very tough, on ALL sides. My heart goes out to the homeowner, and those that live next to him.
Like many things this too will pass, I only hope everyone is satisfies with the outcome.
Jim
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Cyndie Morgan
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Did anyone hear the outcome of the sale of the property?
My sister-in-law called me yesterday after hearing on the 6pm news that one of the original owners of the property came forward and bought the property with the intention of restoring it. She is not home now and I don't know which channel provided this information.
I heard from another person that there were two bids and both were rejected.
Does anyone know what really happened?
My sister-in-law called me yesterday after hearing on the 6pm news that one of the original owners of the property came forward and bought the property with the intention of restoring it. She is not home now and I don't know which channel provided this information.
I heard from another person that there were two bids and both were rejected.
Does anyone know what really happened?
cyndieinpc
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Jim O'Bryan
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Cyndie
The property was not sold and the auction did not bring in enough for the homeowner to sastify creditors.
The next step will be the court hearing then the sheriff's auction.
The home owner has been very open with the Lakewood Observer and our reporters.
To get the facts fast, stay tuned.
Jim O'Bryan
The property was not sold and the auction did not bring in enough for the homeowner to sastify creditors.
The next step will be the court hearing then the sheriff's auction.
The home owner has been very open with the Lakewood Observer and our reporters.
To get the facts fast, stay tuned.
Jim O'Bryan
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Lynn Farris
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- Joined: Fri Mar 25, 2005 8:24 pm
- Location: Lakewood, Ohio
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I read the article about the Auction in the Observer. I am afraid that what the neighbors worked so hard to prevent they may have inadvertently encouraged.
The comment about the cost to fix the home being in the neigbhorhood of $1,000,000. would give a developer the ammunintion to tear it down and build cluster condos. That developer would be selling the fence and the lawn ornaments and everything else. At the meeting there was a gentlemen from the Historical Commission (I believe that was the group's name) who stated cluster condos would be zoned correctly for this property.
Unfortunately rather than a win-win situation, I think we may end up, lose-lose.
The comment about the cost to fix the home being in the neigbhorhood of $1,000,000. would give a developer the ammunintion to tear it down and build cluster condos. That developer would be selling the fence and the lawn ornaments and everything else. At the meeting there was a gentlemen from the Historical Commission (I believe that was the group's name) who stated cluster condos would be zoned correctly for this property.
Unfortunately rather than a win-win situation, I think we may end up, lose-lose.
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Stephen Calhoun
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It's not a lose-lose if the condos are built and people move in and feel they've won something by moving to a crib they wish to live in, in a community they wish to live in.
The developers win here too.
***
It is not unusual for the actual structure to match lose-lose with win-win. The assumption that there is only lose-lose is rarely realized.
The developers win here too.
***
It is not unusual for the actual structure to match lose-lose with win-win. The assumption that there is only lose-lose is rarely realized.
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Lynn Farris
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- Joined: Fri Mar 25, 2005 8:24 pm
- Location: Lakewood, Ohio
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Don and I went to the Lake County YMCA Dream House last weekend. It got us thinking.
Instead of building a new home to raffle off, why not renovate an old home and either raffle it off with the proceeds going to some great cause like the Y, or library or giving it as the headquarters to the Community Development Corporation to hold seminars on how to renovate your home or garden.
In a city like Lakewood everyones hobby is fixing up their home. People everywhere want ideas on how to renovate an old house. This one is a beauty and I for one think it would be a shame to tear it down and make cluster homes out of it, why not make lemonade of the lemons and see if something positive can be done.
The mortgage company could get a big tax deduction out of gifting this to a non profit and various vendors could show off technology like how do put air conditioning in homes with radiators or thermal heating.
I was surprised that the Y in Lake County could do this. But if they could, I would suspect we could too.
Instead of building a new home to raffle off, why not renovate an old home and either raffle it off with the proceeds going to some great cause like the Y, or library or giving it as the headquarters to the Community Development Corporation to hold seminars on how to renovate your home or garden.
In a city like Lakewood everyones hobby is fixing up their home. People everywhere want ideas on how to renovate an old house. This one is a beauty and I for one think it would be a shame to tear it down and make cluster homes out of it, why not make lemonade of the lemons and see if something positive can be done.
The mortgage company could get a big tax deduction out of gifting this to a non profit and various vendors could show off technology like how do put air conditioning in homes with radiators or thermal heating.
I was surprised that the Y in Lake County could do this. But if they could, I would suspect we could too.