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7511 Lhirondelle Club Road
Towson, MD 21204
$1,949,000
Conventional
Property
Bedroom
12
Bathroom
7
Property Type
Conventional
Square ft
10307
Property Description
Rare opportunity to own a prestigious Ruxton estate, that has not changed hands in almost 60 years. The possibilities are endless, allowing the new owner to customize it exactly the way you want. No having to settle for someone else's ideas. Make this your own! Price is based BELOW actual appraised value, so you will not only have a blank slate to work with, but based on comparables on the same street, the asking price is less than 50% of what the expected value should be after you customize it to be your own, providing outstanding value for the price. Investors are invited (just run the numbers!), as are buyers looking for a dream house that they can design from the ground up. Add to that the prime location at the top of L'hirondelle Club Road (this was the original house on the street and was once part of a grand 30+ acre estate), offering a prestigious address bordering dozens of acres of forested, undevelopable land. There is plenty of flat land allowing parking for as many as 20 (or more) cars, something very few other homes in the area can boast and an absolute MUST for those who love to entertain or have large families. In the 1050's the house was configured and is currently grandfathered as three separate residences (with three separate post office addresses, three separate kitchens and three separate electric meters), allowing a new buyer to live in the larger part of the house and rent the two, two bedroom apartments. OR, use one or both of the apartments as a mother-in-law suite or guest house if desired). In addition, the house could easily be restored to its original grandeur as one amazing residence. You are only limited by your imagination. Just check out the line drawings included in the photos! In addition, there are TWO detached garages- a 2000SF four car, two story building and a 1000SF one story building that could be easily converted to a workshop or office, or could be used for storage. Mature trees, a 15' X 30' in-ground pool with new filter (2023) and an incredible wrap-around porch complete the dream. Estimates from a well known local builder for possible upgrades are included as an example in the disclosures! This is a must-see as the possibilities are absolutely endless, and an opportunity like this is truly once in a lifetime." " Some photos have been digitally altered" Let's Make The Deal!
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1893
MLS Number
MDBC2094050
Location
Address
7511 LHIRONDELLE CLUB ROAD
City
TOWSON
State
MD
Zip Code
21204
County
BALTIMORE (TOWSON)
Listing
Provider
Century 21 The Real Estate Centre, original listing
Name
Century 21 The Real Estate Centre
Phone
(443) 324-4033
Office Name
CENTURY 21 New Millennium
Office Phone
(410) 272-4800
Agent Name
Gail Foster

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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.