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1819 Delancey Place
Philadelphia, PA 19103
$5,375,000
Conventional
Property
Bedroom
6
Bathroom
6
Property Type
Conventional
Square ft
6000
Property Description
The epitome of elegance and grace, 1819 Delancey Place is a tribute to the past with its classic brick exterior and historic details within, which blend seamlessly with its modern appointments and finishes. This stately Civil War-era build is 29 ft wide on a 75 ft lot -- allowing for grand rooms and light filled spaces which span over 6000 SF on 5 levels of living. Enter through the vestibule into a handsome foyer with the home's hallmark staircase. Off of the foyer are entrances to both the formal dining room and the living room. The living room features 14 ft ceilings, ornate crown molding and is flanked with 2 marble fireplaces. The eat-in kitchen is just as stunning as the rest with 2 vaulted skylights allowing for incredible natural light, plus gourmet appointments such as the center soapstone island, Wolf 6 Burner Range with custom hood vent, 60'' Sub-Zero Refrigerator, built-in microwave, dual sinks and ample custom cabinetry. Just off of the kitchen is a lovely patio - perfect for morning coffee, grilling and al fresco dining. The first level is complete with a powder room and coat closet. The second level of this home underwent a complete renovation on 2020 with the highest level of finish and craftsmanship. The stairway landing opens to an exquisite family room with a gas-burning fireplace with a marble mantle and custom tiger wood paneling. Adjacent to the family room is the Primary Suite which features a bedroom with custom built-ins, an en-suite bathroom with dual vanities, frosted glass shower and water closet. Additionally, the primary suite includes a 200 SF walk-in closet with custom walnut millwork, plus a conveniently located bonus laundry room. The 3rd floor includes 2 bedrooms with 2 renovated hall bathrooms, plus a home office. The top level of this home features 2 additional bedrooms (one is currently being used as a home gym) with a marble bathroom, plus a cedar closet and large custom outfitted storage room. The lower level is an additional 1000 sf of living space which includes a media room with a wet bar with refrigerator & built-in 132 bottle wine cooler plus a very special "Mummers" powder room. Also on this level is a large mud room with full size washer & dryer, storage room, coat closet and access to the 2-car side-by-side garage. Additional features include an elevator which services all 5 levels, a home automation system, recently upgraded multi-zoned HVAC, new historic certified custom windows and a new roof.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1856
MLS Number
PAPH2260948
Location
Address
1819 DELANCEY PLACE
City
PHILADELPHIA
State
PA
Zip Code
19103
County
PHILADELPHIA (SOUTH)
Listing
Provider
Name
Compass
Phone
Office Name
Compass Pennsylvania, LLC
Office Phone
(267) 435-8015
Agent Name
Margaux Genovese Pelegrin

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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.