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913 Hollow Road
Wayne, PA 19087
$985,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
2870
Property Description
Renovations 2014-15 include: new Hardie siding, new kitchen, 2.5 bathrooms, windows & doors throughout, 2-mini split ductless air conditioner/heater units for upstairs rooms, new finished attic, foam insulation, fireplace converted to natural gas, driveway widened to allow parking for up to 6 add'l cars and many more upgrades throughout. House is loved and beautifully maintained. Beautiful garden with pond. 5-year long term Tenant lease expires end of December. Tenant will consider early buyout to allow for August occupancy in time for school. Selling as-is MAIN floor: Entry foyer with skylight, double French doors into the very large living room with a corner fireplace and built-in shelves. Formal dining room overlooks backyard waterfall and the eat-in kitchen opens out to the peaceful backyard. A few steps down from the kitchen is the ground level family-room, again with built-in shelving, an exit to the driveway, the laundry area, a powder room and the entrance from the garage to the house. ON the upper level there are three bedrooms, one with its own full bath, plus two additional bedrooms and a hall bath. The next upper level features a second master bedroom with a wall of shelves, its own bath with double sinks. In the hall on this level is access to even one more level! A surprising 450 sq. Ft.(size approximate) of temp controlled attic space currently used as 5th bedroom. Don't miss out on the opportunity to live a short distance away from shopping, transportation, and much more!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1956
MLS Number
PACT2067024
Location
Address
913 HOLLOW ROAD
City
WAYNE
State
PA
Zip Code
19087
County
DELAWARE (COUNTY NORTH)
Listing
Provider
Continental Real Estate Group, Inc., original listing
Name
Continental Real Estate Group, Inc.
Phone
(877) 996-5728
Office Name
Continental Real Estate Group
Office Phone
(877) 996-5728
Agent Name
Derek Eisenberg

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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.