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1920 Montgomery Avenue
Villanova, PA 19085
$2,490,000
Conventional
Property
Bedroom
7
Bathroom
8
Property Type
Conventional
Square ft
8309
Property Description
THIS LISTING IS FOR 1920 MONTGOMERY AVE ONLY - 4.44 ACRES AND MAIN HOMEANOTHER MLS LISTING IS AVAILABLE FOR 1920 AND 1904 COMBINED PARCELS LISTED FOR $3.2 M Come home to a classic estate on the storied Main Line. Built in 1900 for coal baron Edwin Saxman, this grand home sits on 4.44 acres in Villanova. This parcel (1920 Montgomery Ave only) comprises the 8,309-sq-ft home. This 3-story, 7-bedroom, 5 full- and 3-half bath stucco-on-stone Colonial was expertly designed by noted Philadelphia architect Horace Wells Sellers, a member of the committee that restored Independence Hall, Washington's Headquarters in Valley Forge and other historic landmarks. The period architectural details are exquisite. From the grand staircase in the 2-story foyer, 11 wood burning fireplaces, hardwood floors, intricate moldings, bowed windows, arched doorways, built-in cabinets and 10 ft+ ceilings, the home's classic beauty has withstood the test of time. Love to entertain? Rooms connect seamlessly with the main foyer and each other through sliding glass and French doors. Move easily from indoor to outdoor living, with expansive red brick and stone patios front and back, with covered porches, multiple seating areas and entry doors to several interior rooms. Across the foyer, abutting the living and dining rooms, a loggia'a room that can open to the outdoors and adjoining rooms'serves as a sunlit family room. With its tiled floor and triple arched French doors, it can easily be opened up to bring the outside in. Large windows and French doors in almost every room allow for abundant sunlight and views of the property's natural beauty, with specimen trees and lush landscaping. Turn-of-the-20th century elegance meets modern convenience in the kitchen, butler's pantry, breakfast room/wet bar and informal powder room, all renovated in 2004. The kitchen offers a center island with seating, SubZero refrigerator, Wolf range, refrigerator drawers, custom built-in cabinetry and desk, brick fireplace and access to both front and rear patios. Completing the first floor, a step-up 'in-law suite' is currently used as an office. This section provides access to the 2nd level via back stairs to 2 guest bedrooms and bath above. Off the foyer, the grand staircase leads upstairs to a beautiful landing and hallway with 3 gorgeous chandeliers, complete with a sleeping porch, a nod to the days before central air. The primary suite has also been renovated for comfort and convenience. It includes a fireplace, a sitting room, multiple closets with built-ins, and 2 well-appointed luxury bathrooms'one of which pampers you with a soaking tub, steam shower, water closet, marble flooring, built-in cabinetry and a fireplace. Also on this section of hallway, 2 large bedrooms with fireplaces and walk-in closets share a renovated bath. On this level, you will also find the laundry room, with original cabinetry, as well as 2 additional bedrooms, another bath, and 2 storage closets. Another stairwell leads to the 3rd floor, which offers 2 bedrooms, a full bath and a large bonus room with fireplace, currently used as an exercise room. The original 'silver closet' on this level is now used to store seasonal dcor. The current owner has made many improvements, including a new cedar roof, copper gutters and downspouts; primed and coated flat and tin portions of roof; rebuilt fireplaces; HVAC system, outdoor lighting and sound system, and added 2nd electrical service. This grand property puts you right where you want to be, minutes from the shops and restaurants of Lancaster Avenue, with easy access to I-476 and other arteries and SEPTA rail, and in the coveted Lower Merion School District.
Property Information
Lot Size
4 acre(s) square ft
Property Type
Other
Year Built
1900
MLS Number
PAMC2096884
Location
Address
1920 MONTGOMERY AVENUE
City
VILLANOVA
State
PA
Zip Code
19085
County
DELAWARE (COUNTY NORTH)
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach Rosemont
Office Phone
(610) 527-6400
Agent Name
Karen Strid

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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.