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250 S 13th Street
Philadelphia, PA 19107
$3,000
Conventional
Property
Bedroom
2
Bathroom
2
Property Type
Conventional
Square ft
1345
Property Description
This property has large scale rooms, high ceilings, lots of windows and wonderful skyline views. It is among the largest two-bedroom units in the Lenox Condominiums. There is an entry hall that connects the living room and bedrooms. The living room has a bay window and the original decorative fireplace mantel, but the chimneys were closed years ago. There is a large walk-in closet off the living room, which the last occupant used as a home office. The kitchen has stainless steel appliances, granite countertops, custom cabinets and a tile floor. At the other end of the entry hall is the large primary bedroom, which has a bay window, en-suite bathroom, two walk-in closets and a full-size washer and dryer. The second bedroom and bathroom are in the middle of the unit. It includes a large closet and a bay window. The Lenox is a pre-war building designed by famed New York architects Clinton and Russell. It was built in 1920 and renovated into condominiums in 2004-5. The units have large scale rooms, high ceilings, lots of windows and most units have their original architectural elements. It is a doorman building and is centrally located at the southern end of Mid-town Village in Washington Square West. It is two blocks from the great shops, restaurants, theaters, Kimmel Center and nightlife of Midtown Village, Walnut Street and the Avenue of the Arts. It is also just a few blocks from Thomas Jefferson and Pennsylvania Hospitals. There are many public transportation options within two blocks. The Lenox has a large central laundry room in addition to the laundry units in this unit. The rent includes 24-hour door staff, heat, water and high-speed internet. Renters pay their own electric and Cable TV. There is additional storage available in the basement for a small fee. There are many gym and day care options in the area. There are multiple parking options in the neighborhood and both Zipcar and Enterprise have rental cars in the Lenox lot.
Property Information
Lot Size
-- square ft
Property Type
Rental
Year Built
1920
MLS Number
PAPH2352662
Location
Address
250 S 13TH STREET
City
PHILADELPHIA
State
PA
Zip Code
19107
County
PHILADELPHIA (SOUTH)
Listing
Provider
Name
Compass
Phone
Office Name
Compass Pennsylvania, LLC
Office Phone
(267) 435-8015
Agent Name
Tom Smitley

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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.