Home for Sale at 10 Wheeler Lane, Washington, PA 19503

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10 Wheeler Lane
Washington, PA 19503

Miranda Lee with IronValley RE of Lehigh Valley, original listing - (610) 766-7200

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Property Details

List Price:	$1,200,000
Beds:	6
Baths:	Full: 3
Status:	Active
SqFt:	3900 Square Feet
Agency:	IronValley RE of Lehigh Valley
Agency Phone:	(610) 766-7200

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Description/Comments

Lot Size:	10 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	1750
Notes:	Arundel Farm<br /> This.Place.Has.Everything. <br /> Central to New York, Philadelphia, and Harrisburg. Close to Bear Creek Resort, minutes to Bethlehem event areas. “Clean and Green” with option for Commercial! <br /> Lush landscaping. Grand two story porch enters to a wide foyer, flanked by French doors, leading to formal living and dining rooms - showcasing deep window sills, custom radiator covers, wood floors, and newer windows found throughout the house. Under the living room is the original foundation of the home with hearth fireplace framing built in 1750. The dining room has built-in cabinets, two chandeliers, and a custom built farmhouse table made of reclaimed wood from the property!<br /> Large primary suite with den, multiple built-ins, wide plank floors.<br /> Kitchen has picture window, cherry cabinets, granite countertops, marble subway tile, Thermador and KitchenAid appliances, commercial exhaust hood. Separate 1st floor laundry. Sun porch, large porches, multiple patios and pergolas. <br /> 1835 restored 4 level barn with authentic speakeasy bar and cozy area with pellet stove make a bonus space. Tool shop on entry level of the barn. Lower level of barn has 3 stalls and walks out to pasture and chicken coop. <br /> The pasture encloses part of the the stream that runs through the property next to the fenced raised bed garden, large koi pond, and greenhouse.<br /> <br /> Generac Generator, New Gas Furnace (2022), Low Taxes (UNDER $4K)<br /> <br /> Agent/Licensee is Related to Seller.
MlsNumber:	--
ListingId:	738563

Listing Provided By:	IronValley RE of Lehigh Valley, original listing
Phone:	(610) 766-7200
Office Phone:	(610) 766-7200
Agent Name:	Miranda Lee
Disclaimer:	Copyright © 2024 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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.

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