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33 Rider Avenue
Lancaster, PA 17603
Christine Nolt with Kingsway Realty - Lancaster, original listing - (717) 569-8701
$449,000
Conventional
Property
Bedroom
5
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
3104 Square Feet
Property Description
Charming 5 bedroom home with lots of character and a hard to find opportunity to generate income! Located in Lancaster Township on a corner lot within a short walking distance to many of Lancaster City's finest eateries. This property is loaded with charm and the third floor has been used to produce income as a short term rental. This beauty has hardwood floors throughout, and newly replaced vinyl windows letting in a ton of natural light! Check out the expansive living room with a cozy fireplace, a spacious dining room, and a lovely kitchen with a breakfast nook looking out over the patio. Also on the first floor is a dedicated office providing an area for remote work. The second level provides three generously sized bedrooms, a large bathroom with a double bowl vanity and an inviting sun room to watch the sunrise. The top floor is a true gem, offering a private primary suite with a bedroom, living room, a mini kitchen and full bath or you can continue the use as a short-term rental. This is functional and practical due to an outside entrance and this space can be separated from the main living space. The current owner has successfully rented this space on Airbnb for many years. The township ordinances for short-term rental are available in the documents for your review. The exterior patio with mature landscaping provides a private area to entertain or simply relax. A two-car detached garage, set up for a work shop with electric, along with two additional off-street parking spaces ensures lots of room for your vehicles. This is a must-see property, come and experience this space for yourself!
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1910
MLS Number
--
Location
Address
33 RIDER AVENUE
City
LANCASTER
State
PA
Zip Code
17603
County
LANCASTER (WEST)
Listing
Name
Phone
(717) 517-0407
Office Name
Office Phone
(717) 569-8701
Agent Name
Christine Nolt
Agency Phone
(717) 569-8701

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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.