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976 Cherry Street
Phoenixville, PA 19460
$520,000
Conventional
Property
Bedroom
3
Bathroom
1
Property Type
Conventional
Square ft
1466
Property Description
Rare opportunity in desirable Phoenixville Borough just a short distance to very active downtown Phoenixville. Bring your family to this brick rancher complete with 3 bedrooms, 1 bath and side porch with jalousie windows; accessed from inside and outside, and fenced in yard. Enter the newly carpeted living room (hardwood underneath carpeting) with wood burning fireplace and large picture window. The large dining room has built-in cabinets and a desk. The large kitchen, last remodeled in 1980's, was added on to original home with large bay window and high-end wood cabinets, needs updating, as does the bathroom, and access to the fenced-in yard. All the bedrooms have hardwood floors and solid wood doors. The home also has a full basement with a new electric panel, and outside access stairs as well as inside access. The walk-up attic spans the entire home, large, finished space with built in drawers, and includes an unfinished room for storage space. What makes this home rare? In 2005 owner built a 2 car garage with a 1008sqft apartment! Note that the apartment can be used by owner as extra home space or to rent. The Owner can rent both the house and the garage apartment but ONLY to relatives of the owner. The apartment is newly carpeted, entry stairs, living room and two bedrooms. You will find it hard to find new apartments with 16.5x16.5 and 16x12. There is a bathroom needs updating. The kitchen is large and open to the living room, has a 5ft by 3ft island, ceiling fan, a stacked washer & dryer (included) closet, new microwave, and oak cabinets. The living room has 7ft bay window. it also is heated and air-conditioned with it's own electric panel; Both gas and electric are available so you can choose whether to use either for appliances; there is an attic with pull down stairs, full length of the apartment. The garage is heated, has a half bath, double utility sink, access door to the apartment, an electric panel with CGFIC security(see explanation in the uploaded documents), and garage door openers and a private access driveway off Columbia Avenue. COME SEE FOR YOURSELF!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1954
MLS Number
PACT2058662
Location
Address
976 CHERRY STREET
City
PHOENIXVILLE
State
PA
Zip Code
19460
County
CHESTER COUNTY
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach Malvern Sales Office
Office Phone
(610) 647-2600
Agent Name
Nancy Pageau

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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.