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7961 Oak Hill Drive
Cheltenham, PA 19012
$519,900
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
3950
Property Description
Welcome to 7961 Oak Hill Drive, a spacious and bright family home that has been lovingly maintained and cared for by its owner. This 3600 Sq ft, 3 levels, stone and siding, front to back split is located on a beautifully landscaped private lot overlooking Tookany Creek Parkway. Some of the great features of this home are solid hardwood floors on the main & upper level, replacement windows, large, fitted custom closets, an amazing amount of storage space and generously sized rooms throughout the home. Three beautifully renovated bathrooms. A 4th bedroom located on the lower level with a separate entry from the driveway could be used as an office or in-law suite. 2 zoned HVAC, newer siding and gutters, newly paved & sealed driveway. A double door entry opens to a grand foyer that accesses all levels of the home. On the right of the foyer, you will find a spacious formal dining room with wall-to-wall bay window and handsome hardwood floor. To the left of the foyer, is the step-down living room with floor to ceiling large picture window and vaulted ceiling. The well-appointed eat-in kitchen is located at the end of the foyer. The kitchen features white cabinets, ample granite counters, stainless steel appliances and a large table area for a comfortable family gathering. A side door from the kitchen allows for easy access to the driveway. The spacious upper level features a primary suite with custom fitted double closets along the wall and an updated large en-suite bathroom with glass enclosed shower and granite-top double vanity, 2 additional large bedrooms with custom fitted closets, an updated hall bathroom with double vanity, walk-in cedar closet. In addition, all bedrooms have a laundry chute to the laundry room and both bathrooms have linen closets. The lower level features a fabulous family room with gas fireplace, built-in closet and Pella sliding glass doors leading to a private back patio. The tastefully renovated large office with luxury plank flooring, leaded glass windows and walk-in closet has a private entrance from the driveway, this room could be a great out of the way bedroom for a guest, a teenager looking for privacy or an in-law suite since a luxurious new full bathroom is located nearby. A large laundry room with built-in cabinets, an extra refrigerator/freezer and a door to the backyard complete this splendidly designed part of the home. A large partially finished basement is a unique added space that usually is not found in a split-level home. This space with ample storage closets could be made into a playroom, gym or workshop. The inviting picturesque backyard overlooking a wooded parkway is a perfect spot for children play and outdoors entertaining. The yard is newly fenced-in, it has a rock pond with water fountain and 3 storage bins. A long driveway can accommodate 5 cars and a wide street with no through traffic makes for easy additional street parking. Walking distance to trails, playgrounds, sport fields, library, Art Center and Septa Regional Rail lines. Come and experience what this great neighborhood has to offer.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1959
MLS Number
PAMC2095790
Location
Address
7961 OAK HILL DRIVE
City
CHELTENHAM
State
PA
Zip Code
19012
County
MONTGOMERY (SOUTHEAST)
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach Jenkintown Home Marketing Ce
Office Phone
(215) 887-0400
Agent Name
Yael Milbert

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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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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.