What happens when a home is slated for auction and only a few interested parties show up?
R5Realty.com attended the auction of the stately, yet weathered palace on Montgomery Ave., across from Suburban Square this past Saturday Nov. 6th. We got there about 1:30pm and took the tour of this weathered Goddess with lovely grounds (see October auction post for address details).
We chatted with the lonely auction personnel and the Realtor, who explained that unlike some auctions, this one was being held out of choice and not out of necessity. Owners/property is not in financial distress, but decided an auction might be the best avenue to attract buyers in this market, according to the agent.
Several interested buyers stalked the grounds in anticipation of the 2pm auction. Given the paucity of potential bidders, I wondered if a steal might be in the making.... Should I run to the bank for the needed 20k deposit?
Fortunately I stayed put and at 215pn the auctioneer announced the sellers decided not to go thru with the auction based on the relative lack of interest.
Doh! Was looking forward to seeing the auction happen but no dice.
While the auction did not happen, this once grand house is still for sale hundreds of thousands of dollars below renovated value.
Someday someone will restore this place to its flagship status by Montgomery Avenue, someday I will get to see a hooping, hollering auction in Ardmore, but for now, the status is Quo.
R5Realty News and Notes
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.
Sunday, November 7, 2010
Tuesday, November 2, 2010
|Address||Bed||Bath||Last Price||Sold Price||City/Station|
|225 Chestnut Ave||3||1.0||$165,000||$165,000||Ardmore|
|236 E Spring Ave,||5||2.0||$175,000||$181,000||Ardmore|
|109 Walnut Ave||5||1.0||$199,000||$200,000||Ardmore|
|60 Llanfair Cir||3||2.1||$589,000||$563,300||Ardmore|
|135 Woodside Rd||3||2.1||$685,000||$670,000||Ardmore|
|2910 Haverford Rd||4||2.0||$199,000||$199,000||Ardmore/Deco|
|2623 Chestnut Ave||5||1.1||$179,000||$179,000||Ardmore/Delco|
|2829 Haverford Rd||3||1.1||$263,500||$250,000||Ardmore/Delco|
|2319 Belmont Ave||3||1.1||$263,000||$260,000||Ardmore/Delco|
|617 N 20th St||3||2.1||$525,000||$510,000||ArtMuseum|
|820 N 21st St||3||2.1||$559,900||$520,000||ArtMuseum|
|5 Derwen Rd||4||4.1||$419,900||$420,000||BalaCynwyd|
|116 School St||3||1.0||$299,000||$293,500||Bala Cynwyd|
|711 Fordham Rd||4||2.1||$439,900||$390,000||Bala Cynwyd|
|6 Elmwood Ave||4||2.0||$289,900||$273,000||BalaCynwyd|
|1115 Sandringham Rd||4||2.2||$499,000||$450,000||BalaCynwyd|
|24 Llanberris Rd||4||3.1||$925,000||$855,000||BalaCynwyd|
|919 Lafayette Rd||4||3.1||$625,000||$575,000||Bryn Mawr|
|813 Gatemore Rd||4||3.0||$645,000||$617,000||Bryn Mawr|
|38 Franklin Ave||5||1.0||$199,500||$159,000||BrynMawr|
|720 Waverly Rd||5||2.1||$699,000||$675,000||BrynMawr|
|592 Barrett Ave||5||2.0||$359,900||$350,000||Haverford|
|244 Stoneway Ln||3||2.0||$229,900||$208,000||Merion|
|613 General Lafayette Rd||4||2.0||$469,000||$450,000||Merion|
|485 Merion Rd||4||3.1||$695,000||$595,000||Merion|
|506 Gordon Ave||3||1.0||$285,000||$250,000||Narberth|
|522 Brookhurst Ave||3||1.1||$285,000||$285,000||Narberth|
|218 Lantwyn Ln||3||2.0||$335,900||$324,650||Narberth|
|3 Hansen Ct||3||2.1||$449,000||$420,000||Narberth|
|436 Anthwyn Rd||4||3.0||$430,000||$425,000||Narberth|
|233 Righters Mill Rd||3||2.1||$600,000||$497,000||Narberth|
|238 Righters Mill Rd||5||3.1||$809,000||$750,000||Narberth|
|7346 Malvern Ave||3||1.1||$119,900||$120,000||Overbrook|
|7600 Sherwood Rd||3||1.1||$159,000||$130,000||Overbrook|
|2827 Ogden St||3||3.1||$447,500||$425,000||Overbrook|
|519 Penn Valley Rd||5||5.1||$899,900||$835,000||Penn Valley|
|715 Broad Acres Rd||3||2.1||$279,900||$240,000||PennValley|
|514 Fairview Rd||4||3.1||$649,000||$613,000||PennValley|
|1330 Centennial Rd||5||4.1||$999,000||$960,000||PennValley|
|444 Clairemont Rd||4||2.1||$475,000||$445,000||Villanova|
|2001 County Line Rd||4||2.1||$499,900||$465,000||Villanova|
|807 Oxford Crst||3||3.2||$899,000||$700,000||Villanova|
|125 Haverford Rd||4||2.1||$399,900||$395,000||Wynnewood|
|145 Trent Rd||4||2.0||$465,000||$420,000||Wynnewood|
|934 Remington Rd||4||2.2||$450,000||$445,000||Wynnewood|
|724 Argyle Rd||3||2.1||$489,000||$474,000||Wynnewood|
|1217 Andover Rd||4||3.1||$566,000||$537,500||Wynnewood|
|547 Wayfield Rd||5||2.2||$879,000||$808,000||Wynnewood|