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24 Lakewood Drive
Media, PA 19063
$3,795,000
Conventional
Property
Bedroom
7
Bathroom
9
Property Type
Conventional
Square ft
12008
Property Description
Welcome to 24 Lakewood Drive, a stunning 7 Bedroom, 6 Full Bath, 3 Half Bath, French Country residence, offering over 12,000 square feet of pristine living space. This private estate nestled on 3.4 acres with lush grounds and meticulous landscaping makes a grand first impression as you enter through the iron gate and up the circular drive with center fountain. Enter into the 2 story Foyer with marble floor, personal elevator, beautiful curved staircase w/ custom iron railings, and a powder room w/ custom landscape mural. The adjacent light-filled formal Living Room features a fireplace w/ intricate wood mantle, custom millwork shelving, hidden wet bar, and floor to ceiling windows that offer impeccable views of the Springton Reservoir. Hardwood floors continue in the formal Dining Room with Venetian plaster walls, crown molding, and crystal chandelier. The gourmet Kitchen with custom coffered ceilings & access to the flagstone patio, boasts granite countertops and top of the line appliances including a double oven, 6-burner Wolf range, two sub zero refrigerators, two Miele dishwashers, and a Sharp microwave drawer in the island. There’s also a butler’s pantry, mudroom w/ built-ins, and convenient Half Bath. The adjacent Family Room & Dining area with sliding doors to the patio create a perfect place to entertain family and friends. A handsome office/study with dark wood paneling, extensive built-ins, and gas fireplace offers a quiet space to work or read. Make your way to the incredible main floor Primary Suite, fully renovated in 2015, with a painted wood floor Foyer that sets the tone for the sophisticated touches found throughout. A fireplace in the Bedroom, “His and Her” bathrooms, each with marble floors, glass showers, & custom cabinetry, an expansive dressing room with “his and her” islands & custom closets, a Juliet balcony, and separate HVAC, make this space the perfect place to start and end your days. Head up the staircase to the oversized landing overlooking the living room, with skylights for an abundance of natural light. The second level offers 6 Bedrooms, 3 Full Baths, and a bonus storage room. Head down to the impressive lower level, designed with entertaining in mind, to find a bar area w/ wine cellar, den, full kitchen, game room w/ beamed ceiling & half bath, exercise room with sauna/steam room, full bath w/ shower, and outside access to the sprawling slate patio. The back yard with multiple outdoor spaces, in-ground pool, hot tub, and pool house w/ stone fireplace, kitchen, & half bath, is truly your own private oasis. No detail has been overlooked in this luxurious home once owned by Phillie’s legend, Mike Schmidt. Just 15 minutes to the airport & downtown, and close to all that Media has to offer, this home is an absolute treat for even the most discerning buyer.
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
1968
MLS Number
PADE2061892
Location
Address
24 LAKEWOOD DRIVE
City
MEDIA
State
PA
Zip Code
19063
County
DELAWARE (COUNTY NORTH)
Listing
Provider
Keller Williams Main Line, original listing
Name
Keller Williams Main Line
Phone
(610) 520-0100
Office Name
Keller Williams Main Line
Office Phone
(610) 520-0100
Agent Name
Lynise Caruso

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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.