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

Lower Merion Auction Fizzles

What happens when a home is slated for auction and only a few interested parties show up?
Unfortunately, nothing!
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.







Tuesday, November 2, 2010

Housing Prices/Sales Lower Merion - Philadelphia R5 Region for October

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