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323 Grayling Avenue
Narberth, PA 19072
$825,000
Conventional
Property
Bedroom
5
Bathroom
3
Property Type
Conventional
Square ft
2074
Property Description
In a market that has people settling for less, this adorable Narberth home offers everything modern buyers are looking for! You can’t ask for a better neighborhood than this quiet tree-lined street in the heart of the Borough, just a few blocks from Narberth’s beloved downtown. A fitting welcome to this lovely home is its gorgeous front porch, spanning the entire width of the home, with a hardwood plank ceiling, a ceiling fan, and plenty of seating room for family and friends. Inside, the classic Main Line character details are everywhere, with hardwood floors throughout, beautiful molding on the walls and windows, a formal dining room, and a wood burning fireplace in the living room. There are plenty of modern conveniences, too, like replacement windows, gas heat, and two-zone central AC. 2017 renovations updated the white and bright kitchen, and added in floor radiant heat, an eat-in breakfast area, first floor powder room and laundry room. Sliding glass doors lead to a roomy back deck that overlooks a spacious, fenced backyard. Four bedrooms and one full bath are on the second floor, with a fifth bedroom and another full bath on the third floor. The lower level is a full basement for extra storage. Popular Narberth Borough is a quintessential front porch town with sidewalk lined streets, friendly downtown events and festivals, and a sense of community participation. Located just a short distance from Philadelphia, almost everything is walkable, from parks and playgrounds, restaurants and shops, to the SEPTA regional rail station that’s just three stops from 30th Street Station. Narberth residents are part of the Lower Merion School District, which is always ranked among the best in Pennsylvania and there are many near-by private school options as well. Single family homes in such a wonderful location are hard to find, so put this one on your “must see” list!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1920
MLS Number
PAMC2101846
Location
Address
323 GRAYLING AVENUE
City
NARBERTH
State
PA
Zip Code
19072
County
MONTGOMERY (SOUTHEAST)
Listing
Provider
Name
Compass
Phone
Office Name
Compass Pennsylvania, LLC
Office Phone
(610) 822-3356
Agent Name
Cindy Ridgway

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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.