Market Snapshots and Commentary on Value and Quality of life along the former Main Line of the Pennsylvania Rail Road, up until recently called the R5 Line, and now officially known as the Paoli /Thorndale line. R5Realty runs from Center City Philadelphia through the walkable, Westward outlying Towns & Townships.
Thursday, October 28, 2010
Lower Merion Auction Property
This stately 6-Bedroom home in Ardmore is going up for public auction on Saturday November 6th. The home fronts on Montgomery Avenue and is "catty-corner" to Suburban Square. The official address is 106 Edgewood Avenue, Armore, Pa. 19003. Previews are available to the public on Sunday Oct. 31 from 2-4pm and on Monday Nov. 1 from 2-4pm.
Expect the home to be in far less than ideal condition, so whatever the winning bid, buyers will likely need additional resources to bring the home back to glory. Some Background: This house has been owned by the same family for more than 50 years. In 2005, owners took out a $500,000 home equity loan on the property. In 2008 the home was offered for sale at $779,000. The latest list price was $599,000 as recently as Sept 2010.