Main Line Homes Blog

I was looking at some market statistics yesterday and realized that whilst everyone is all doom and gloom the picture is not so bad. Yes, there are certainly more homes on the market now than last year. Actually it has nearly doubled in every county I looked at, Chester, Delaware and Montgomery.

But, sales have also increased over last year, yes, more homes were sold in each county, than the same period last year. Prices are pretty stable in our area according to statistics, however buyers are putting low offers in on most properties, but if homes worth more are being sold it pushes up the median home price and does not give a true reflection of price.

Now admittedly there are more homes on the market than can be absorbed and days on market has increased, but that statistic keeps coming back to me, more homes sold than this time last year. So do not be discouraged if you are a seller. But what does it mean to you.

You need to price it right. You need to make your home stand out from all the rest. It needs to sparkle, it needs to cry out to be shown to buyers. Buyers cruising the internet need to call their agent and say, "Why haven't you shown me this property?" And did I say you need to price it right. That is the most important thing at the moment. You are not going to get the last penny out of your home sale whatever you think. Prepare your home for sale, get it looking beautiful and be reasonable and you will sell your home fast.

If you do get an offer, work it, don't get insulted, don't try to be clever, just treat it as a business decision and listen to your realtor.

After last year when we saw almost 50 homes in Old Forge sell this year has seen a marked reduction in sales. This year to date there are 3 homes for sale, two 1 bedroom units and a single 2 bedroom townhome. One home is pending and there have been 16 homes that have settled. Prices seem to have stabilised as well. Probably these two things are related, with less competition prices are not under so much pressure. On the other hand they also have not risen with less on the market. For more market information please go to Old Forge Crossing

Again, price depends so much on condition and what each owner has done with their home. If the bathrooms and kitchen have been updated with newer appliances, you have newer windows and maybe even have replaced your heater and a/c unit you will get more money. If however, you have the same carpeting from fifteen years ago and the original bathroom and kitchen you will find the price at the lower end of what units are bringing.

Old Forge is a well liked development. It is well looked after, has lots of amenities, swimming pool, tennis, walking trails and the monthly fee is fair for what is included, such as gas for cooking, and drying, water etc. Prices are stable and storage in these homes is good. I find taking buyers who live in Old Forge out looking at homes a challenge as they always complain about the lack of storage and closet space in homes that we look at. What many owners like here is that the units are completely self contained, washers and dryers are within the units, no coins needed here to do your washing. Each home has it's own front door without being on a central corridor. And most of all the landscaping and grounds are delightful.

So how about prices in the current market, 1 bedroom units are selling between $165,000 and $175,000, a recent 1 bedroom actually settled last week for $163,900 and another for $172,500. If they have a den these prices will be a little higher. 2 bedroom units are being priced anywhere from the $190,000's to well above $200,000 depending on their layout, location and if they are one fo the townhome units with two floors. For more complete details of recent sales please go to Old Forge Crossing