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940 Oak Hill Avenue
Hagerstown, MD 21742
Caron Prideaux with Redfin Corp, original listing - (301) 288-3077
$750,000
Conventional
Property
Bedroom
8
Bathroom
Full: 4, ½: 1
Property Type
Conventional
Square ft
5863 Square Feet
Property Description
Every so often, a house comes to market that knocks your socks off. This is one of those homes. From the moment you step onto the deep, wrap-around front porch, you feel the warmth. Proceed inside the vestibule, hang up your jacket, sit and take off your boots, and continue through the front door, filled with the charm of the art deco style - all of the transoms and window surrounds to allow for maximum light - makes one imagine the roaring 20's and the elegance of that era. Ten+ foot high ceilings and original wood doors, trim, baseboards and transom windows. On either side of the gracious foyer are living rooms with fireplaces, hardwood floors and double French doors. Walk back to a formal dining room, with a floor to ceiling bay window ready to sit 12 people comfortably for dinner. The kitchen, off the dining room and hallway, is completely modern with gas cooking, stainless steel appliances, quartz counters, designer backsplash, solarium window for plants and herbs, walk in pantry, and door to back porch. Off the kitchen is the laundry room and a half bath, the back staircase and another casual family gathering room. Every room flows into the other while still having separation. The fun doesn't stop there. One floor up contains the owners' suite - not the suite we see built today, but a lavish, "spend the day in bed" kind of suite that demands attention. Consisting of 5 actual rooms, the owner's suite has a sitting room, a dressing room, a closet with shelving, a luxurious updated bathroom and the sleeping quarters. (Please note that the rooms all have their own entry door from the hallway and can be converted back to make another bedroom if needed.) Another 2 bedrooms and an updated bath make up the 2nd floor. The third floor adds another 4 bedrooms, and bathroom, painting or reading cove, and walk in closets. But wait, there's more. Lower level is adorned with a bonus room, modern 4-piece bathroom (sink vanity, walk-in shower, commode and urinal!), Zen garden for meditation, and a perfect spot for the wine cellar. Below, is yet another level that is a full basketball court and doubles as a huge theater room with projection and screen that convey. Both lower levels have welled exits to the back and side yards. 2 car, oversized, detached garage on a .4 acre, corner, double lot. What more could anyone want or need? This is truly a one-of-a-kind home that has been carefully and expertly restored to its unparalleled beauty and function. Open house is planned for Saturday, 3/22 from 12-3. Please park on the street so as to not block garage.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1919
MLS Number
--
Location
Address
940 OAK HILL AVENUE
City
HAGERSTOWN
State
MD
Zip Code
21742
County
WASHINGTON
Listing
Provider
Redfin Corp, original listing
Name
Phone
(301) 288-3077
Office Name
Office Phone
(301) 288-3077
Agent Name
Caron Prideaux
Agency Phone
(301) 658-6186

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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.