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1706 N Park Drive
Wilmington, DE 19806
$975,000
Conventional
Property
Bedroom
2
Bathroom
3
Property Type
Conventional
Square ft
2700
Property Description
Tucked away down a private street just off the Brandywine River in the gated community of Brandywine Park Condominiums, the Old Mill is a building like no other. What used to be a former mill in the late 1800’s was artfully divided into 9 unique units and now is your chance to own one of them! With floor to ceiling windows spanning the entire length of the unit, the water views from this 2 bedroom, 2.5 bath condo are beyond compare. As you enter the foyer, you will notice the imported tile flooring, crown molding and illuminated tray ceiling. The foyer then opens up to the main living space showcasing modern day open concept living with the kitchen overlooking the family, living and dining room areas. The kitchen features custom white cabinetry, marble tile backsplash, granite countertops, french door oven and built-in refrigerator, 6 burner cooktop, stainless steel farmhouse sink, bell glass shade pendant lighting and recessed lights. Balancing the old with the new are the original steel beams of the mill from 1862 which were exposed to incorporate a little bit of history to this beautifully renovated space. The family, living and dining space all feature 10 foot high ceilings, recessed lighting, oak hardwood floors and arched entryways (part if the original design of the mill) which lead out to panoramic views of the Brandywine River. During the winter months, you can enjoy the terrace views from the warmth inside and during the spring/summer months, you can open up the wall of sliding glass doors and let in the fresh air while listening to the serene sound of the river. Your sleeping quarters feature 2 bedrooms and 2 full baths. The primary bedroom suite has hardwood floors, custom built-in dresser, recessed lighting and large windows outfitted with beautiful plantation shutters. The bathroom/dressing area is comprised of two separate vanities with upper cabinet storage, large closets, over-sized walk-in marble shower with custom glass enclosure, soaking tub and unique ceiling dome detail. The secondary bedroom is also nice in size with newly installed hardwood floors, large windows with plantation shutters, recessed lighting and en-suite bathroom with marble tile and walk-in shower. There is also a modest-sized laundry room with additional storage conveniently located just off the hallway. Also worth mentioning is that the entire condo was custom painted from top to bottom leaving no corner untouched! Included with this condo are two designated parking spaces, a personal storage locker, fitness center, in-ground pool, community room and ample guest parking. If you are looking for care-free living with stunning water views in a building that exudes character, this is it. It’s time to treat yourself to a new way of living and explore the Old Mill of Brandywine Park Condominiums!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1987
MLS Number
DENC2057626
Location
Address
1706 N PARK DRIVE
City
WILMINGTON
State
DE
Zip Code
19806
County
NEW CASTLE (WILMINGTON)
Listing
Provider
PANTANO Real Estate, Inc., original listing
Name
PANTANO Real Estate, Inc.
Phone
(302) 888-0300
Office Name
Pantano Real Estate Inc
Office Phone
(302) 888-0300
Agent Name
Holly Henderson-Smith

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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.