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7539 Riverside Dr
Richmond, VA 23225
$3,495,000
Conventional
Property
Bedroom
7
Bathroom
6
Property Type
Conventional
Square ft
--
Property Description
This finely detailed Colonial Revival-style ranch house combines 18th-century elegance with mid-century ranch house design. Situated on two-and-a-half acres on a high bluff, this architect-designed home offers magnificent views of the James River and the surrounding countryside. The house's abundant colonial features capture the charm and elegance of the 18th century, while its updated amenities and expanded living areas make it ideal for today's living. The exterior is mostly constructed of red brick laid in Flemish bond. The main entrance is reached by a brick walkway laid in a basketweave pattern and features a single-leaf door opening with a substantial carved wood surround. The front of the house features four gabled dormers with six-over-six windows. The design of the back is less formal than the front, with the main emphasis being to provide views of the river from inside. A spacious brick-paved terrace helps to unify the design and provides a transition from the building to the landscape. The house features a hall-salon plan comprising a central entrance hall which leads to a large formal living room overlooking the James River. The bedroom wing of the home extends to the north, and the dining room, family room, kitchen, and garage are located to the south. The paneled sliding pocket doors between some of the formal rooms are an amenity not found in most ranch houses. Oak floors enhance the first-floor rooms. The south end of the house has been modernized and expanded to feature a spacious kitchen, a glass-enclosed sunroom overlooking the river, and a two-car garage. Seven bedrooms and six full baths, including first & second floor primary suite options as well as first and second floor laundry options. Abundant natural light & heavy moldings throughout. Views from every vantage point. Unfinished walk-out basement. Walk-in attic storage. Paved circular drive. Too many details to list...TRULY ONE-OF-A-KIND!!! MUST SEE!!!
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1959
MLS Number
2401400
Location
Address
7539 Riverside Dr
City
Richmond
State
VA
Zip Code
23225
County
CHESTERFIELD
Listing
Provider
Long & Foster Real Estate, original listing
Name
Long & Foster Real Estate
Phone
(888) 536-0216
Office Name
Westham
Office Phone
(888) 536-0216
Agent Name
Patrick M. Gee

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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.