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| 1026 Carroll. From Rehab to Resell in 7 months. |
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| Rehabbers bought this for under $215,000... |
This nearly 2,000 sq. foot, remodeled single in Penn Wynne section of Lower Merion went under contract the day it hit the market. Price paid this September was just above $350,000. Seven months earlier, the home was deeply in need of updating and was sold by its decades-long owners for a bit less than $215,000.
The longtime owners had tried for a higher number, originally listing for $375,000 in spring of 2010. But potential buyers were taken aback by its mid-20th century stylings and finishes, as well as a moisture issue in the basement. Over the course of a year-and-half, the longtime owners whittled down their asking price from 375,000 down to a below market, rehabber-ready $225,000.
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| ...Sold this & other improvements for $350,000. |
In early 2012, a new owner came in and installed/refinished hardwoods throughout the house, and updated: Lighting, Kitchen, Windows, Electric Service, French Drain. The house (still no central air) was competitively listed at $345,000 - which is directly in line with what buyers are currently paying for 3-bedroom/2-bath singles that are move-in ready in this part of Lower Merion/Penn Wynne. With the home in marketable condition and smartly priced at market value, a speedy sale ensued for a few thousand over list price.
