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420 S Richard Street
Bedford, PA 15522
$325,000
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2518
Property Description
THE CHAIRMAKER'S HOUSE- circa 1868 Just beyond the edge of Bedford Historic district, this charming all brick, 2-story, 4 BD, 2 1/2 BA home with high ceilings and lots of double pane windows sits. It was originally built in 1868 (lumber cut and bricks made on site) This home was occupied by a chair maker at the edge of town. This house is within easy walking distance to downtown Bedford (4 blocks), historic sites, courthouse, shopping, restaurants, library, golfing, senior living facilities, various other services and the OMNI Bedford Springs Resort. In approximately 1959, a chiropractor purchased the home and added an office/suite/guestroom with a seperate entrance and full bath to the first floor. This made the 4th bedroom, which could easily be used as an in law suite or rented as an efficiency apartment. The upstairs sleeping porches were walled to create extra closets and storage on the second floor and a powder room, closet and mudroom on the first floor. Later, a full metal roof and enhanced long gravel drive were added, An outside 30 amp hookup was also added to accomodate a large RV. A new kitchen floor was installed in 2023 to add a weathered oak look in the kitchen. Created with waterproof vinyl plank flooring. The whole house has had upgraded electric service to meet the current codes and expanded electric service to the attic, 2nd floor rooms, tool shed, storage spaces and the basement. A full basement and huge attic provide ample additional usable space that can be heated or cooled. The 12-16' wide wood planks that support the roof are made of chestnut, oak and white pine and were probably cut on site as they run the full length of the house in one piece. Natural gas provides the radiator heat (2 zones), hot water and stainless steel cook stove. A stainless steel dishwasher and refrigerator complete the kitchen. Solid oak cabinets surround the spacious kitchen, which includes a large movable kitchen island with breakfast bar and storage. The laundry area is conveniently located on the 1st flr off the kitchen and has extra tall and big storage cabinets above the washer & dryer. A powder room/half bath and 2 storage closets are conveniently located off the kitchen near the side porch entryway. The side porch is enclosed on 3 sides to reduce wind and weather. A new fullview storm door with built-in roll down screen has been installed on the door leading into the kitchen from the side porch. Individual small window air conditioning units cool all 7 rooms comfortably. Custom made insulated curtains and blackout roll down shades adorn most of the 7 ft tall sun filled windows, most of which are strategically situated on the south and east facing walls to maximize winter sunshine. Special features of the home include: 9 ft ceilings, lots of closets and built in bookshelves, a rear stairway with build in pantry shelving, a full length collection display shelf in the kitchen, built in bookshelves in 4 rooms, antique hardware, solid wood doors, door knobs and door frames, hardwood floors, full flooring in the large attic, antique natural wood banister on the main stairs, arched doorway between the living and dining rooms. 2 small inset grottos highlight the center hall and a spacious closet under the main stairway. Notable outdoor features include 2 huge pink dogwood trees, a large magnolia tree shades the front yard and in the middle of the back yard sits a beautiful burning bush. A hedge surrounds much of the backyard for privacy. Off street paved and gravel parking accommodate several small and large vehicles. A lockable storage building with shelving hugs the real of the house. A durable Tuff Spa salt water hot tub with custom cover is installed on the side porch, and is available for sale separately. Lots of extra building materials, shelving and house hardware can convey
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1868
MLS Number
PABD2001764
Location
Address
420 S RICHARD STREET
City
BEDFORD
State
PA
Zip Code
15522
County
BEDFORD
Listing
Provider
Juniata Realty, original listing
Name
Juniata Realty
Phone
(814) 652-2234
Office Name
Juniata Realty
Office Phone
(814) 652-2234
Agent Name
Kimberly Mearkle

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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.