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1818 Delancey Street
Philadelphia, PA 19103
$3,225,000
Conventional
Property
Bedroom
3
Bathroom
6
Property Type
Conventional
Square ft
4500
Property Description
Welcome to 1818 Delancey Place in the heart of Rittenhouse Square. This beautiful historic home sits on prestigious Delancey Place, a street that has remained faithful to the elegance of its large Federal homes. 1818 Delancey was built around 1854 and has kept its Federal charm through many updates and renovations. Enter the home through the elegant arched dual foyers, leading to the stunning and spacious living room with 12' ceilings, and the original staircase with its lovely, curved banister. The magnificent floors are custom maple, walnut, and cherrywood inlay parquet. The total look is of polished sophistication. Perfect for an intimate tte--tte or large celebrations. Just off the living room is a lovely deck perfect for morning coffee or evening cocktails. The entrance to the elegant formal dining room in the front of the home, is flanked by stylized Doric columns. In the dining room is one of the three wood-burning fireplaces and space for large dinner gatherings. Tall windows admit lovely light and views of the elegant neighboring facades. A wide hallway leads from the living room to the sunny, large eat-in kitchen, a cook's and caterer's dream. Along with radiant under floor heat, there are loads of cabinets and drawers for storage and a wet bar. Light streams through the large windows. The French doors to the deck invite you to step outside and enjoy a morning coffee. In the hallway are a half-bath, closet, and doors to the basement. On the 2nd floor is an enormous primary bedroom in the front of the house with tall windows, an adjoining bathroom and walk-in closet. The fabulous bathroom has a double sink with a cabinet above that was created from an Indian secretary. The top and bottom sections were separated, and the bottom was expanded to create two sinks. The walls are Venetian plaster. The large round tub is covered with mosaics and has pulsating jets. At the rear of the second floor is a spacious, comfortable library lined with custom bookshelves, large windows, and, adding to its charm, another wood-burning fireplace with spectacular, carved marble surround. In this room, as well as in the primary bedroom, is an Auton system that hides a large television behind artwork, sliding away for TV viewing. Adjacent to the library is a wet bar with custom cabinets holding the controls for all the audio equipment for this abundantly wired home. The 3rd floor has a very large front bedroom, walk-in closet, and full bath. In the rear of the house is another large bedroom and full bath. Continuing to the fourth floor are stairs that branch off in the rear of the house to a landing with access to what could be a large roof deck. There is a half bath in the hallway along with storage rooms and closets. In front of the house there is a large room with custom shelving that is currently used as an office but could be a bedroom, studio, or family room. The basement is partially finished and has a large laundry room with double soaking sinks, a temperature-controlled wine cabinet, a half bath, many closets, and a large storage area. In the rear of the basement is the door to the one-car garage, accessed from Panama Street. The driveway sloping down to the garage is heated. Additionally, the house has three zones for heating and cooling. This house must be seen to fully appreciate its size, elegance, location, and beauty.
Property Information
Lot Size
-- square ft
Property Type
Other
Year Built
1800
MLS Number
PAPH2284478
Location
Address
1818 DELANCEY STREET
City
PHILADELPHIA
State
PA
Zip Code
19103
County
PHILADELPHIA (SOUTH)
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach At the Harper Rittenhouse Sq
Office Phone
(215) 546-0550
Agent Name
Amy Shelanski

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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.