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351 Laurel Lane
Haverford, PA 19041
Sarah West with Compass Pennsylvania, LLC, original listing - (610) 822-3356
$3,300,000
Conventional
Property
Bedroom
5
Bathroom
Full: 4, ½: 1
Property Type
Conventional
Square ft
5314 Square Feet
Property Description
Main Line treasure. Perched elegantly on one of North Haverford’s most sought after streets, this quintessential fieldstone colonial is the very first home built by renowned builder/architect Walter Durham in 1925. Durham’s homes were known for ‘the light coming in and the views looking out’; this home captures both exquisitely. The gracious street presence is complemented in the back by oversized windows with tiered garden views; french doors to flagstone terrace as well as sun porch and deck overlooking the stunning landscaping, trails and flat yard space. Inside, the original home was reimagined with a complete renovation in 1999-2000 (Richelou builder, Lou Schneider architect) elevating the original bones and character to modern day standards. Walk through the signature covered front door entry to the charm and grace of the reception hall. Original oak floors continue from the entry through the formal living and dining spaces. The dining room overlooks the majestic yard and leads to the sun porch and onward to the terrace. The living room is finished with an oversized fireplace, built-in shelves and french doors to the terrace. Through the dining room, an expanded chef’s kitchen features cherry cabinets, stainless steel appliances, honed granite countertops, oversized island, eat-in dining space with windows on three sides and walk out to a deck, ideal for grilling. Pocket doors lead to a small family room immediately off the kitchen, which also opens out to the deck. A laundry room, full bath and mudroom off the kitchen give this expansive family space every convenience. When the dishes are done, the true gathering space is an additional much larger family room with exposed stone, painted beams, triple exposure, radiant heat and french doors to the flagstone terrace. Upstairs, an expansive master suite boasts a fireplace, large windows, ample closets, lounge area with exposed stone, and a sumptuous master bath with white marble spa tub, glass shower and radiant floors. Continuing on the second floor, two additional bedrooms share a jack/jill bathroom and a fourth bedroom has an attached bathroom and french doors to a roof deck. The third floor features a large fifth bedroom with a walk-in closet. A finished basement offers additional rec/craft/gym space. Meticulously maintained with unparalleled pride of ownership. Walkable to Haverford town center, Haverford train station and Merion Cricket Club. Commuters dream with easy access to all major roadways. Lower Merion School district.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1925
MLS Number
--
Location
Address
351 LAUREL LANE
City
HAVERFORD
State
PA
Zip Code
19041
County
DELAWARE (COUNTY NORTH)
Listing
Name
Phone
Office Name
Office Phone
(610) 822-3356
Agent Name
Sarah West
Agency Phone
(610) 822-3356

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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.