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5033 Main Road
Bedford, PA 15522
$259,900
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
2775
Property Description
Everything old is new again! This 2 story 1840 home, with stone foundation, has been fully remodeled. Come through the front door into the foyer, showcasing the newly designed staircase and beautiful, dark oak hard wood flooring throughout the first floor. To the left is the tasteful living room with window molding/trim that reaches the floor, displaying old world charm. On the right is the dining area of the adjoining kitchen. Added cabinetry to match originals and increase storage in the updated oak cupboards and island. Tucked in the back, beside the stairway, is a convenient 1/2 bath. Three bedrooms upstairs, spacious closets and a full bath with laundry facilities complete the second floor. Original wood floor under carpeting upstairs. There is a walkup attic and blown-in insulation. Step outside. The covered, concrete, wrap around porch adds an additional 726 sqft. of living/entertaining space. Space for grilling and eating, conversation areas, OR just sit and listen to the stream as it babbles across the back of the property. New conventional septic system. Property is spring fed and water is shared with neighbor. Look out over the acre+ back and side yards. Much room for a big garden and space for kids to run. Chestnut, maple, mulberry and pine trees dot the property. When the leaves fill in, it creates complete privacy. The enormous side area supplies plenty of parking or whatever your needs are. Attached is a 2 page list of improvements. You will be impressed. But come take a look and you will fall in love.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1840
MLS Number
74100
Location
Address
5033 Main Road
City
Bedford
State
PA
Zip Code
15522
County
BEDFORD
Listing
Provider
Howard Hanna Bardell Realty, original listing
Name
Howard Hanna Bardell Realty
Phone
(814) 623-8622
Office Name
Howard Hanna Bardell Realty
Office Phone
(814) 623-8622
Agent Name
Colleen Fix

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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.