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1616 Bainbridge Street
Philadelphia, PA 19146
$625,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
1548
Property Description
This spacious, nicely updated home is in a Graduate Hospital location that simply can’t be beat. There’s plenty of indoor and outdoor living space via an open-plan first floor with powder room, a finished basement, and a large rear deck, while three bedrooms and two full bathrooms are spread over the upper two floors. There are high ceilings with crown molding, hardwood floors, generous closets and custom window treatments throughout: top-down blinds in the living room and wide-slat blinds in the rest of the rooms. Behind the home runs an alley with mature trees, providing an escape-from-the-city view of greenery from every rear-facing window. First-floor perks include a large coat closet and wiring for surround sound. The kitchen with breakfast bar features granite countertops with stainless steel undermount sink; stainless appliances including a Bosch dishwasher and Frigidaire range and fridge; and ample cherry cabinets with built-in wine storage. Oversize French doors open to the deck against the backdrop of trees.The finished basement has a wall of built-in shelves and a rear laundry/utility room with a surprising amount of storage space. On the second floor there are two good-sized bedrooms, each with double-width closets. The granite hall bath has an extra-deep Kohler soaking tub and fixtures and contemporary storage vanity. The entire third floor is dedicated to the primary suite. The bedroom has more than enough space for a king-size bed, and there's a sweet nook underneath a set of windows that offer a best-of-both-worlds vantage point–the treetops immediately outside, followed by an absolutely stunning skyline view. There’s a walk-in closet and enormous bathroom with an oversize storage vanity with vessel sink, Jacuzzi tub and separate walk-in shower with frameless glass door and Kohler rainhead faucet. This block of Bainbridge is fully residential but puts you around the corner from countless dining options including Tio Flores, Miles Table and Rex at the Royal; two blocks from the Broad St Line and the Marian Anderson rec center (with pool!) and within easy walking distance to Rittenhouse Square.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1925
MLS Number
PAPH2355116
Location
Address
1616 BAINBRIDGE STREET
City
PHILADELPHIA
State
PA
Zip Code
19146
County
PHILADELPHIA (SOUTH)
Listing
Provider
Elfant Wissahickon REALTORS, original listing
Name
Elfant Wissahickon REALTORS
Phone
(215) 247-3600
Office Name
Elfant Wissahickon-Rittenhouse Square
Office Phone
(215) 893-9920
Agent Name
Jennifer Golden

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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.