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693 Allentown Road
Sellersville, PA 18960
$524,900
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
3100
Property Description
2 family property with 2 separate homes sq. ft. is estimate for both homes. Main home is a 3 bed 1 1/2 bath with sitting/dressing room. Full basement with outside exit. Updated kitchen with custom soft close cabinetry and black stainless appliances. Dining room with gorgeous hardwood floors and room to expand the table for holiday gatherings. Double entry doors off the wide front porch into the living/family room space with wood stove to take the chill off. Rear of the main home is the perfect mud room space for daily comings and goings--room for shoes, boots, jackets, bookbags etc. and an updated powder room with pocket door. Split stairs to the upstairs with full bath and access to attic storage. Bedroom 3 and the sitting/dressing area feature custom build ins. The first floor offers central air and the second uses window units. The full basement houses the utilities including the laundry and a bilco door for exterior access. Enjoy relaxing and chatting on the front porch or out the back door and down the path to the yard with room to tend the flower beds and veggie garden. The path takes you to the 2nd home with a wide open kitchen and dining room space an expansive living room with door to the rear yard. Currently there is a wood stove in the space that is not connected to a chimney and therefore not useable. Off the main entrance you'll find a laundry closet (could be moved upstairs) and access to the 2 car garage where you'll find the eletrical box. Upstairs are 3 bedrooms, full bath and a family or great hobby space. A decommissioned kitchen is on this floor and could be converted to laundry space. Outside in the rear you will find access to the partial basement which houses the oil tank, serviced boiler, sump pump and the crawl space. The property features 2 driveways for overflow parking or a place for the extra truck and a single garage with overhead door to house your recreational vehicles or projects. A shed is used as a workshop space and other out buildings are on the property including a small pavillion for covered picnics or outside activities. A well provides water to the homes. There is an original cistern completely rebuilt stainless and brass hand pump perfect for watering the garden(s) or washing the car. Square footage noted is for the main house. 2nd house is approximately 1600-1700 square feet. Home Warranty too. Permit issued for new septic system.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1928
MLS Number
PABU2065592
Location
Address
693 ALLENTOWN ROAD
City
SELLERSVILLE
State
PA
Zip Code
18960
County
BUCKS (NORTHWEST)
Listing
Provider
RE/MAX 440 & RE/MAX Central, original listing
Name
RE/MAX 440 & RE/MAX Central
Phone
(215) 453-7653
Office Name
RE/MAX 440 - Skippack
Office Phone
(610) 584-1160
Agent Name
Colleen Gular

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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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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.