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1 Old Lyme Road
Lutherville Timonium, MD 21093
$899,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
4434
Property Description
Welcome to 1 Old Lyme Road, a charming 4400+ sq ft Colonial nestled in the picturesque surroundings of Lutherville-Timonium. Situated on a generous one-acre wooded lot, this meticulously maintained property offers an ideal blend of comfort and convenience. As you step inside, you'll immediately notice the inviting atmosphere and thoughtful design that define this home. To your right, you'll find a versatile office/study with built-in shelves, providing the perfect space for work or study. This space connects through to the family room via a small wet bar. To the left, the spacious 18x14 living room beckons with its warm ambiance, offering a cozy retreat for gatherings with family and friends, alike. This living room seamlessly transitions into the formal dining room, creating an ideal flow for entertaining. The adjacent kitchen is sure to impress with its sleek cooktop, double ovens and ample counter space - perfect for daily meal preparation. A pantry offers additional storage, while the breakfast bar and informal dining/breakfast area provide more casual space for informal dining. With its panoramic window, the breakfast area invites you to admire the peaceful backyard while savoring your morning coffee or enjoying on-the-go meals. This space leads to a sprawling deck, where you can bask in the tranquility of the lush wooded surroundings. This outdoor oasis offers a serene retreat for al fresco dining, grilling, enjoying your favorite beverage, or simply soaking in the natural beauty that surrounds you. Off the kitchen, a 22x14 family room awaits, featuring a wood-burning fireplace and built-in shelves. This space also offers access to the deck and another entrance to the office/study, providing convenient connectivity throughout the home. The main level laundry room offers added convenience, with stairs leading to the upper level bonus room, providing versatile living space for hobbies, exercise, or relaxation. You'll find four exceptionally spacious bedrooms, including a luxurious primary suite complete with a private bath and wonderful walk-in closet space, as well as access to the bonus room. The primary bathroom features a soaking tub, double sink vanity and separate shower. The additional bedrooms are generously sized, each has ample closet space and they share a conveniently placed hall bath. On the lower level, you'll discover a haven for entertainment, fun and relaxation. This space features a wet bar, perfect for serving up drinks while hosting gatherings with friends and family. Enjoy your pool table and shuffleboard while creating memories - this space offers endless opportunities for everyone! A wine cabinet adds a touch of sophistication, providing storage for your favorite vintages. With plenty of open space, this area is ideal for hosting movie nights, game days, or casual get-togethers. Outside, the expansive one-acre lot offers plenty of room to roam and play, with mature trees providing shade and privacy. The oversized garage offers parking for two cars and includes a separate storage area, ensuring plenty of space for vehicles and belongings. The attached oversized garage has a separate storage area that provides ample space for organizing tools and belongings. Ideally located on a beautifully landscaped private one acre lot in a prime non-thru street off of Falls Road corridor, this home is close to the amenities of Greenspring Station and has easy access to both I695 and I83, making commuting and getting into downtown Baltimore a breeze! ** HVAC 2023, Water heater 2021, 2-200 amp electric panels **
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1984
MLS Number
MDBC2094008
Location
Address
1 OLD LYME ROAD
City
LUTHERVILLE TIMONIUM
State
MD
Zip Code
21093
County
BALTIMORE (TOWSON)
Listing
Provider
Keller Williams Realty Centre, original listing
Name
Keller Williams Realty Centre
Phone
(410) 312-0000
Office Name
Keller Williams Realty Centre
Office Phone
(410) 312-0000
Agent Name
Jeannette Westcott

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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.