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740 Morris Street
Philadelphia, PA 19148
$799,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3300
Property Description
Introducing a remarkable, custom-built home in the vibrant Passyunk Square neighborhood, a true masterpiece that sets a new standard in luxury living. This brand new residence boasts over 3300 square feet of open living space, complete with top-of-the-line amenities and a coveted 10-year tax abatement.From the moment you approach, the front facade of this home is a work of art, featuring a restored towering brick masonry front that exudes elegance and curb appeal. Step inside to discover a world of luxury, with soaring ceiling heights and an 8-foot floor-to-ceiling electric fireplace surrounded by imported Italian tile, creating a captivating focal point in the spacious and open floor plan living area.The interior showcases rich quality craftsmanship throughout, with white oak floors from Shaw adding a touch of sophistication. The kitchen is a true chef's dream, featuring Wolf Artisan brand custom cabinets, handmade oak inlay ceilings, porcelain Raphael tile backsplash from Italy, Calcutta Desire quartz countertops, custom handmade shelving, and premium Samsung stainless steel appliances. The kitchen seamlessly flows into the dining area and stunning slider doors leading to a private backyard patio, perfect for al fresco entertaining. Rounding out this custom floor is a beautiful half bath with more oak inlay touches and Italian vanity and sink.Venture upstairs to find 3 inviting bedrooms with custom closets and storage solutions, along with spa-like bathrooms adorned with high-end fixtures , vanities and imported tile, the front bedroom has its own private en suite bathroom perfect for your traveling guests. This level also includes the laundry area stocked with Samsung front loader washer and dryer for ultimate convenience! The third floor is dedicated entirely to the luxurious primary suite, complete with a custom oak inlay accent wall, a grand walk-in closet, and a lavish Deluxe Spa bathroom featuring warm gold fixtures, a deep soaking tub, and a rainfall shower.The upper level also includes a grand sitting room/office with visionary windows and a mini bar for added convenience. Finally, ascend to the breathtaking rooftop deck and pilot house, offering panoramic views of Center City, Bok Bar, and the surrounding bridges, creating a serene oasis for relaxing and enjoying summer fireworks.Further enhancing this exquisite home is a custom-finished basement, ideal for use as a home office or entertainment space, with over 800 square feet of beautifully appointed living area. All mechanical systems in the home are brand new , ensuring comfort and efficiency with 2 zone HVAC and 1 year builder's warranty. Located in the heart of the trendy Bok neighborhood, just steps away too from Fergie's newest creation 'The Jim Bar' and have a great breakfast at Good Hatch , this residence provides easy access to the acclaimed East Passyunk Avenue with its array of dining, shopping, and entertainment options. Experience the ultimate in urban living in this meticulously crafted home where every detail has been thoughtfully designed for the discerning homeowner. Move in and start enjoying the best of what this amazing city has to offer !
Property Information
Lot Size
-- square ft
Property Type
Other
Year Built
1915
MLS Number
PAPH2357064
Location
Address
740 MORRIS STREET
City
PHILADELPHIA
State
PA
Zip Code
19148
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 Center City-Society Hill
Office Phone
(215) 627-6005
Agent Name
Tina DeJesse

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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.