Home for Sale at 5407 Cary Street Road, Richmond, VA 23226

5407 Cary Street Road
Richmond, VA 23226

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Property Details

List Price:	$9,500,000
Beds:	7
Baths:	10
Status:	Active
SqFt:	12594
Agency:	The Steele Group Sotheby's International Realty

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Description/Comments

Lot Size:	2 acre(s)
Property Type:	Residential
Year Built:	1916
Notes:	Welcome to a truly exceptional property in the heart of Richmond. 5407 Cary Street Road was built and designed by famed architect Duncan Lee in 1916 as a weekend retreat. The historic family home is situated on over two acres in the heart of Richmond, and well known by many. The iconic home underwent one addition in 1928 and remained untouched until the large scale renovation and addition, completed in 2016, including extensive landscaping. The first level features generous original formal rooms, a Garden Room with original bar and fountain, and Library. The well appointed Chef's kitchen connects the kitchen, family room, gaming, and outdoor spaces. The second level features six ensuite bedrooms with walk in closets, a generous laundry room with a center marble topped island, and a bunk room. The lower level features a media/game room, full bar, extensive custom cabinetry, exercise room, and a private ensuite bedroom, perfect for an au pair. The home has a geo-thermal system, Wolf and Sub-Zero appliances, bright windows, marble finishes, conditioned attic, two Rinnai hot water heaters, heated bathroom floors, and built-in elevator shaft that spans all three floors. The master en-suite features a sitting room, deep soaker tub, dressing room, and storage closet. The original veranda overlooks the expansive property, fountain, well maintained gardens, and Hillbrook garden house located aside the irrigated family garden. This unique once-in-a-lifetime home offers a serene and sophisticated lifestyle against a historic backdrop, and was featured in the Modern Richmond Tour in 2010 and Historic Garden Week in Virginia Tour in 2019.
MlsNumber:	2414895

Listing Provided By:	The Steele Group Sotheby's International Realty, original listing
Name:	The Steele Group Sotheby's International Realty
Phone:	(804) 282-3136
Office Name:	The Steele Group
Office Phone:	(804) 282-3136
Agent Name:	Susan Benson
Disclaimer:	Copyright Â© 2024 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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.

Free Foreclosure Listings

ForeclosureWatch.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With ForeclosureWatch.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like ForeclosureWatch.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

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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or licensed by the US Department of Housing and Urban Development

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