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5219 Strathmore Avenue
Kensington, MD 20895
$1,175,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3898
Property Description
Rare opportunity!! This contemporary end-unit, located in highly sought after Strathmore Place , features nearly 3,900 sf of living space and is the ideal floor plan for those seeking one-level living, 3 BR , 3 BA with spacious rooms, very well maintained with numerous renovations over the years, high ceilings, plantation shutters, skylights and one of the few walk-out basements in the neighborhood. The entry foyer features a ceramic tile floor, a mini bar with a wine refrigerator, which opens to the dining area which overlooks a dramatic living room with a soaring vaulted ceiling with recess lighting, a fireplace, and sliding door to the side yard patio. The large kitchen includes stainless steel appliances, ceramic counter tops, a breakfast bar and laundry room. The rear den features hardwood floors, recess lights, and a sliding glass door to a large deck that overlooks the private yard. The owners suite includes a luxury bathroom with a skylight, large shower, double vanity with granite top, dressing area and walk-in closet. The recently remodeled finished walk-out basement boasts a large rec-room, full bath and 3rd bedroom / office with built-in shelves. Super convenient / walk-able location to the Red line Grosvenor Metro Station, and Strathmore Music center for world class entertainment.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1980
MLS Number
MDMC2129984
Location
Address
5219 STRATHMORE AVENUE
City
KENSINGTON
State
MD
Zip Code
20895
County
MONTGOMERY (SOUTH)
Listing
Provider
Mackintosh Inc., REALTORS, original listing
Name
Mackintosh Inc., REALTORS
Phone
(301) 662-0155
Office Name
Mackintosh, Inc.
Office Phone
(301) 662-0155
Agent Name
Bill Armstrong

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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.