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5051 Marvine Avenue
Drexel Hill, PA 19026
Debbie Kiotis with BHHS Fox & Roach Wayne-Devon Sales Office, original listing - (610) 651-2700
$3,250
Conventional
Property
Bedroom
3
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
1772 Square Feet
Property Description
Lovely 3 bedroom brick colonial with so much to offer. Living Room with fireplace (fireplace is not functioning), Dining Room, Updated eat-in Kitchen, Family room/Sun room off the kitchen with powder room on the main level. There is a large deck off the family room. (The deck will be refinished in the spring at the landlord's expense.) The 2nd level has a spacious main bedroom with bath, ceramic tile hall bath and 2 other bedrooms complete this level. The basement is partially finished with an outside exit and the laundry area. Landlord pays heat up to the scheduled fills in their contract. Anything over and above is the responsibility of the tenant. The landlord also pays for grass cutting but yard maintenance and leaf removal and snow removal are the responsibility of the tenant. The landlord will leave tools necessary to maintain the yard. Should the landlord incur a fine if these are not maintained or the snow removed in a timely manner, the tenant will also be responsible for the fine. Pets will be considered on a case by case basis. There is a $1500 non refundable pet deposit required if your pet is approved. This home is conveniently located to shopping, dining and public transportation and easily accessible to the major roadways. It is walking distance to newly renovated Aronimink Elementary School.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential Lease-Single Family Residence
Year Built
1942
MLS Number
--
Location
Address
5051 MARVINE AVENUE
City
DREXEL HILL
State
PA
Zip Code
19026
County
DELAWARE (COUNTY SOUTHEAST)
Listing
Name
Phone
(610) 513-4236
Office Name
Office Phone
(610) 651-2700
Agent Name
Debbie Kiotis
Agency Phone
(610) 651-2700

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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.