Due to a meteoric rise in interest rates, a house priced at $350,000 in early May will now cost the average homebuyer an extra $60,000 once a 30-year, 20% down conventional loan has been fully repaid. That's the chilling reality of what a fast full-point rise in rates will due to the total cost of a loan.
Back in early May, and throughout most of 2013 and 2012, an interest rate of 3.5% was commonly available. For the conventional 30-year loan Buyer who borrowed $280,000 at 3.5% to buy a $350,000 home, the monthly payment was about $1260.
But with the recent June jump in rates to 4.5%, the monthly payment for the same loan is now $1420. That's a monthly increase of $160 and almost $2000 in extra payments annually. Take that out over the life of a loan and that's $60,000 out of pocket for the privilege of buying in early July instead of early May. That's the bad news...
Now for some good news for those buyers who snoozed but still aim to purchase a home in 2013. Summer and Fall are typically times of reduced demand, and it's not uncommon for home prices to dip 5-10% from their springtime peaks. Couple this late season discount with a likely short-term, backslide and correction to the recent spike in rates, and late-season buyers may not wind up with payments too much higher than the early birds of springtime. Most important to remember, while rates have risen dramatically (the last week of June had the greatest weekly percentage rise since 1987); historically, interest rates are still astounding low. You may not be grinning ear-to-ear now, but if your interest rate eventually begins with a 4 and not a 5, 6, 7 or 8, you'll but a happy homeowner for decades.
Contact R5Realty/Prudential today and Lets Get Moving, 610.348,7972.
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.
Saturday, July 6, 2013
Friendly Mainline-area Realtor Seeks Buyers for Informed, Focused and Free Home-Buying Flings
At a recent open house on Buck Lane in Haverford, I met a home-seeker who lamented her inability to secure a moderately-priced single family home. As a full-time Realtor, focused like a laser on the mid-range, Mainline-area market ($225,000-$725,000), I naturally expressed my willingness to assist in her quest. Despite her understanding that the offer of Buyer Assistance comes with no obligation - and no fee from start to finish -she expressed firm disinterest in the notion of having a dedicated Buyers' agent.
![]() |
| Some House-Hunters Prefer to Go It Alone |
But this woman's distinct perspective, expressed in a reasoned manner that conveyed she had given it considerable thought, was that she only wished to deal directly with Listing Agents. She said she would be eager to come look at homes for which I already represented the seller, but having a Realtor act as her buyers' agent was out of the question.
Her rationale included the conviction that if she was unrepresented and dealing directly with the Listing Agent, she would somehow be given preferred consideration and status over competing buyers. There is some logic and merit in play here. Listing Agents (Agents for Sellers) get to keep a full commission if there is no separate agent for buyers. But the reality is that almost every listing agent expects - and is delighted - to share their commission with an agent devoted only to representing the Buying party.
Homes are a big ticket item and Realtors frequently invest weeks, months, sometimes years to affect a sale. While the home is on the market, and then if it fails to sell, a Realtor gets zippo, bupkiss, nuttin' for his/her investment of time and effort. But the flipside, is that the commission a seller pays the Realtor if/when the home sells, is a very generous and princely sum. Realtors who act as Listing Agents, are typically delighted to split their well-earned and handsome commission with their colleague, who has through persistent searching, vigilance and effort brought a well-represented, informed and qualified Buyer to the table.
To this end, just about every Listing/Sellers' agent proudly and loudly advertises that he/she will share 50% of their commission. Occasionally, it does happen that the listing agent handles both Buyer/Seller sides and pockets 100 percent, but this is a situation known as Dual Agency and is implicitly fraught with conflict of interest and rarely beneficial for anyone but the double agent.. A Listing/Sellers agent's first and only interest is performing for the Seller and Only for the Seller. This typically means procuring the most viable buyer, willing to pay the most money, within a finite period of time.
![]() |
| Buyers' Agents Fiercly Outumber a Single Listing Agent. |
And Since this Buyer-Agent group massively outnumbers the single listing agent by a ratio of several hundreds, if not more than 1000:1, who
is most likely to present to the seller, a qualified buyer, with the biggest purse, in the briefest amount of time? Obviously, it would be a Buyers Agent, and the statistics reflect the reality. In almost all home sale transactions on the Mainline area, the Buyer has a dedicated Buyers' Agent and the Listing Agent gratefully shares the commission.
By the time the Lady I met at the open house would find her listing on a consumer website and get her call returned by the Listing agent, many dedicated, full-time Buyers agents had likely already seen the property, showed it to their well-prepared, pre-qualified clients, and very likely submitted offers. This is why, for desirable and well-priced homes, it is absolutely necessary to develop a relationship with a knowledgeable and nimble Buyers' agent. Not only is Buyer Agency free, it's essential when trying to purchase a quality home, in a competitive market, such as we currently have in the Mainline area.
Labels:
Realtor Insider
Bryn Mawr Cottage Value and June's Homes Sold in Radnor and Haverford Townships
| Sweet Cottage at 31 Garrett Ave: Net Sold Price Under $215,000 |
Radnor & Haverford Townships' June 2013 Home Transactations Under a Million Dollars
For Photos and Details on the Complete List Click Above
| Town | Street Address | Sold For | Beds | Baths | Sq Ft | Listed For |
| Ardmore | 2231 Haverford Rd | $153,000 | 3 | 1.1 | 1,368 | $169,900 |
| Ardmore | 2803 Saint Marys Rd | $224,000 | 3 | 1 | 1,152 | $225,000 |
| Ardmore | 809 Clifford Ave | $249,000 | 3 | 1 | 1,392 | $249,000 |
| Ardmore | 631 Georges Ln | $252,500 | 3 | 1 | 1,240 | $259,900 |
| Ardmore | 2147 Chestnut Ave | $259,000 | 3 | 1 | 1,326 | $259,000 |
| Ardmore | 2924 Berkley Rd | $278,000 | 4 | 2.1 | 1,850 | $279,500 |
| Ardmore | 2920 Haverford Rd | $280,000 | 4 | 2.1 | 1,666 | $289,865 |
| Ardmore | 2102 Chestnut Ave | $280,000 | 3 | 2 | 1,362 | $285,000 |
| Ardmore | 2105 Chestnut Ave | $282,000 | 3 | 2.1 | 1,540 | $289,900 |
| Ardmore | 2932 Belmont Ave | $285,000 | 3 | 2.1 | 1,554 | $285,000 |
| Ardmore | 2100 Chestnut Ave | $300,000 | 3 | 1.1 | 1,362 | $299,999 |
| Ardmore | 39 Haverford Rd | $342,000 | 4 | 2.1 | 2,274 | $359,000 |
| Ardmore | 2938 Rising Sun Rd | $355,000 | 5 | 2.1 | 1,987 | $359,900 |
| Ardmore | 144 Shawnee Rd | $448,000 | 3 | 2.1 | 1,968 | $449,000 |
| Bryn Mawr | 123 Debaran Ln | $336,500 | 3 | 1.1 | 1415 | $350,000 |
| Bryn Mawr | 105 Hickory Ln | $338,100 | 3 | 1.1 | 1,986 | $329,900 |
| Bryn Mawr | 11 Arthur Rd | $400,000 | 3 | 1.1 | 1,396 | $425,000 |
| Bryn Mawr | 764 Sproul Rd | $425,000 | 4 | 2 | 2,010 | $449,900 |
| Bryn Mawr | 330 Highland Ln | $575,000 | 4 | 3.1 | 3,207 | $600,000 |
| Haverford | 739 Buck Ln | $147,000 | 3 | 1 | 1,830 | $174,999 |
| Haverford | 1760 Josie Ln | $185,000 | 3 | 2.1 | 2,388 | $250,000 |
| Haverford | 39 Bambi Ln | $345,000 | 4 | 2.1 | 2,118 | $350,000 |
| Haverford | 14 Coopertown Rd | $650,000 | 5 | 2.1 | 3,800 | $750,000 |
| Haverford | 200 Buck Ln | $725,000 | 4 | 2.1 | 2,970 | $750,000 |
| Haverford | 17 S Buck Ln | $870,000 | 6 | 4.1 | 4,608 | $929,000 |
| Havertown | 308 Walnut Hill Ln | $162,000 | 3 | 1.1 | 1,171 | $205,000 |
| Havertown | 1118 Garfield Ave | $174,500 | 4 | 1.1 | 1,511 | $179,900 |
| Havertown | 149 S Eagle Rd | $197,500 | 3 | 1 | 1,276 | $209,500 |
| Havertown | 419 Earlington Rd | $198,000 | 3 | 1 | 1,122 | $200,000 |
| Havertown | 560 W Chester Pk | $209,000 | 3 | 1.1 | 1,636 | $219,900 |
| Havertown | 36 Fulmer Ave | $212,000 | 4 | 1.1 | 1,517 | $219,000 |
| Havertown | 8 Westwood Park | $220,000 | 3 | 1 | 1,514 | $225,000 |
| Havertown | 212 Westwood Park | $230,000 | 3 | 1.1 | 1,282 | $250,000 |
| Havertown | 1703 Robinson Ave | $231,000 | 3 | 1 | 1,400 | $246,225 |
| Havertown | 1203 Manor Rd | $233,000 | 1 | 1.1 | 1,006 | $230,000 |
| Havertown | 112 Yale Rd | $237,000 | 4 | 1 | 1,898 | $249,999 |
| Havertown | 305 E Hathaway Ln | $237,000 | 3 | 1.1 | 1980 | $235,000 |
| Havertown | 121 Woodbine Rd | $239,000 | 3 | 1 | 1,224 | $239,000 |
| Havertown | 220 Campbell Ave | $245,000 | 3 | 2 | 2,376 | $250,000 |
| Havertown | 545 Virginia Ave | $251,000 | 3 | 1 | 1,558 | $259,900 |
| Havertown | 158 Shelbourne Rd | $257,450 | 3 | 2 | 1,800 | $249,900 |
| Havertown | 301 Golf Hills Rd | $260,000 | 4 | 2.1 | 2,336 | $292,000 |
| Havertown | 218 Pine Ridge Rd | $260,000 | 3 | 2 | 1,292 | $259,999 |
| Havertown | 1607 Colony Ln | $264,500 | 3 | 1 | 1,350 | $264,500 |
| Havertown | 13 Rodmor Rd | $265,500 | 3 | 1.2 | 1,711 | $274,900 |
| Havertown | 566 Willowbrook Rd | $269,000 | 3 | 1.1 | 1,900 | $269,900 |
| Havertown | 142 W Hillcrest Ave | $290,000 | 4 | 1.1 | 1,683 | $289,000 |
| Havertown | 1511 Melrose Ave | $295,000 | 3 | 1 | 1,350 | $299,900 |
| Havertown | 329 Crescent Hill Dr | $300,000 | 3 | 1.1 | 1,840 | $309,000 |
| Havertown | 408 Strathmore Rd | $302,000 | 3 | 2 | 1,787 | $309,900 |
| Havertown | 33 Jacalyn Dr | $308,000 | 3 | 2.1 | 2,131 | $319,900 |
| Havertown | 508 Sagamore Rd | $317,500 | 3 | 1 | 1,612 | $315,000 |
| Havertown | 901 Larchmont Ave | $320,000 | 3 | 1.1 | 1,604 | $309,900 |
| Havertown | 168 Sycamore Rd | $320,150 | 4 | 2.1 | 1,643 | $319,900 |
| Havertown | 2 Myrtle Ave | $322,500 | 4 | 3 | 2,468 | $322,500 |
| Havertown | 1722 Academy Ln | $325,000 | 4 | 2.1 | 1,763 | $334,900 |
| Havertown | 640 Penfield Ave | $330,000 | 4 | 1.1 | 1,909 | $345,000 |
| Havertown | 420 Brookline Blvd | $350,000 | 4 | 2 | 2,622 | $324,900 |
| Havertown | 25 E Marthart Ave | $372,500 | 3 | 3 | 2,347 | $369,900 |
| Havertown | 17 Garlor Dr | $379,900 | 4 | 2.1 | 2,641 | $379,900 |
| Havertown | 1745 Sue Ellen Dr | $389,000 | 4 | 2.1 | 2,292 | $389,900 |
| Havertown | 1711 Hawthorne Ave | $398,475 | 4 | 2 | 1997 | $389,900 |
| Havertown | 101 Charles Dr | $409,000 | 4 | 3 | 2,717 | $409,000 |
| Havertown | 22B Fairlamb Ave | $460,000 | 4 | 2.1 | 2,700 | $489,900 |
| Havertown | 1409 Fairview Ave | $525,000 | 4 | 2.1 | 2,800 | $549,900 |
| Havertown | 1139 Bon Air Rd | $549,000 | 4 | 2.1 | 2,950 | $549,000 |
| Havertown | 28 E Park Rd | $649,900 | 5 | 3.1 | 3,400 | $659,900 |
| Rosemont | 116 Garrett Ave | $90,000 | 3 | 1 | 1,036 | $105,000 |
| Rosemont | 848 Conestoga Rd | $205,000 | 3 | 2.1 | 1,368 | $205,000 |
| Rosemont | 31 Garrett Ave | $218,500 | 2 | 1 | 1098 | $219,000 |
| Villanova | 27 Wistar Rd | $835,000 | 5 | 3.1 | 3,550 | $950,000 |
| Villanova | 739 County Line Rd | $871,000 | 5 | 2.2 | 4,096 | $849,000 |
| Villanova | 516 Watch Hill Rd | $940,000 | 4 | 3.1 | 2,795 | $939,900 |
| Villanova | L42-000 Hilldale Rd | $980,000 | 4 | 3.1 | 2,972 | $999,000 |
| Wayne | 129 Plant Ave | $260,000 | 2 | 2 | 896 | $270,000 |
| Wayne | 154 Morningside Cir | $355,000 | 4 | 1.1 | 1,731 | $375,000 |
| Wayne | 100 Valley Forge Ter | $389,000 | 4 | 2.1 | 1,837 | $399,900 |
| Wayne | 337 Conestoga Rd | $435,000 | 5 | 3 | 2162 | $459,900 |
| Wayne | 920 Eagle Rd | $492,500 | 3 | 3.1 | 2,652 | $549,500 |
| Wayne | 210 Biddulph Rd | $545,000 | 3 | 1.1 | 1,758 | $550,000 |
| Wayne | 419 Iven Ave | $590,000 | 4 | 2.2 | 2,489 | $605,000 |
| Wayne | 134 Biddulph Rd | $617,000 | 4 | 2 | 2,552 | $625,000 |
| Wayne | 507 Maplewood Ave | $830,000 | 4 | 4.1 | 3,228 | $825,000 |
| Wayne | 269 Gulph Creek Rd | $856,400 | 5 | 4.2 | 3,543 | $895,000 |
| Wynnewood | 223 Farwood Rd | $382,000 | 3 | 2.1 | 1,616 | $389,500 |
| Wynnewood | 1002 Hampstead Rd | $430,000 | 3 | 2.1 | 2,043 | $425,000 |
| Wynnewood | 1711 Powder Mill Ln | $469,500 | 4 | 2.1 | 2,488 | $469,500 |
Labels:
R5 Market Update
Friday, July 5, 2013
Lower Merion Homes Sold in June 2013 and that Quasi-Art Deco Number Near Mainline Reform Temple
![]() |
| 315 Gypsy: This view doesn't show signature rounded front turret. |
June 2013: Lower Merion Township Homes Transactions for Less than a Million Dollars
For Details & Photos of these transactions, Click Here or email Ted@R5Realty.com,
Labels:
R5 Market Update
Thursday, May 30, 2013
Lower Merion School District Enrollments and the Penn Alexander Catchment Property Bubble
![]() |
| Officials: Retrofitting LMHS can address future space issues |
It is expected enough students will opt for LM and its enhanced capacity, so that no brand new construction will be required at either school. Ultimately, the lives of few are bound to be upended by this relatively featherweight redistricting. Both high schools are excellent and, if anything, the commutes of some students may even be slightly shortened by the opportunity to choose Ardmore over Rosemont.
But the situation bears watching. The expected surge in high-school population is already being felt at the
![]() |
| LMSD Enrollment Bulletins |
But just a few miles away in University City, infatuation with high-quality, affordable public education is exceeding sustainablility and has created a mini real estate bubble that may be about to pop. The Penn Alexander School - which serves public school grades K-8 in a Catchment Zone running (E-W) from 40th to 47th Streets and (N-S) from Sansom to (roughly) Baltimore Ave - opened in 2001 and receives substantial financial and institutional support from its prestigious neighbor, the University of Pennsylvania. In its decade-plus existence, the school has emerged as possibly the city's finest for its age group and has caused a clamor for home ownership within the boundaries of its catchment zone. It's estimated that $100,000 - $150,000 in value has been added to homes whose addresses qualify for attendance in the school.
On one hand, the lottery system and statistics ostensibly ensure that nearly every child applying for admission will be accepted, but what of the family that spends an extra $125,000 and then draws the short stick and is left out? Very few kids/families will be affected, but the uncertainty is a harsh reality for those who paid, or are considering paying a premium to buy into the Penn Alexander School catchment.
In Lower Merion, our home values are also buttressed by the desirability of the quality of public education available to residents. We are fortunate to be in a more stable and sustainable position than our University City neighbors. But the time could come when too much love for our schools could actually start to erode, rather than enhance Lower Merion's charmed relationship between home values and quality education.
Click Here to view Lower Merion School District's Info Page on Enrollment Plans
Labels:
Realtor Insider
May's Lower Merion Home Sales - Fast, Above Ask!
![]() |
| 1205 Weymouth: Sold in 3 Days for $42,000 above Asking Price |
May 2013: Lower Merion Township Homes Sold under $1 Million, with Days on Market*
| Sold For | Street Address | Town | Bed | Bath | Sq Ft | Listed For | Mkt* |
| $360,000 | 124 Sutton Rd | Ardmore | 3 | 1.1 | 1,640 | $379,900 | 10 |
| $363,500 | 111 Simpson Rd | Ardmore | 5 | 3 | 2,179 | $349,900 | 4 |
| $470,000 | 506 E Spring Ave | Ardmore | 3 | 2.1 | 2,128 | $459,900 | 2 |
| $630,000 | 144 Sutton Rd | Ardmore | 4 | 3.2 | 3,531 | $629,995 | 287 |
| $762,500 | 217 Kent Rd | Ardmore | 6 | 3.1 | 2,810 | $799,000 | 20 |
| $205,000 | 310 Parsons Ave | BalaCynwyd | 4 | 1 | 1,836 | $239,900 | 237 |
| $260,299 | 19 W Dartmouth Rd | BalaCynwyd | 5 | 2.1 | 2,711 | $290,000 | 3 |
| $263,900 | 734 Consh. St Rd. | BalaCynwyd | 3 | 1.1 | 1,360 | $259,900 | 5 |
| $410,000 | 126 Ashland Ave | BalaCynwyd | 3 | 2.2 | 1,982 | $429,900 | 36 |
| $414,000 | 110 Union Ave | BalaCynwyd | 3 | 2.1 | 1,715 | $425,000 | 7 |
| $420,000 | 134 Cynwyd Rd | BalaCynwyd | 5 | 3 | 2,116 | $415,000 | 18 |
| $500,000 | 125 David Rd | BalaCynwyd | 3 | 2 | 2,307 | $500,000 | 23 |
| $519,000 | 126 Cynwyd Rd | BalaCynwyd | 5 | 2.1 | 1,760 | $519,000 | 5 |
| $530,000 | 131 Ashland Ave | BalaCynwyd | 4 | 2.1 | 3,054 | $544,900 | 63 |
| $540,000 | 107 Clwyd Rd | BalaCynwyd | 4 | 3.1 | 2,480 | $549,000 | 148 |
| $635,662 | 135 Ashland Ave | BalaCynwyd | 4 | 2.1 | 3,054 | $544,900 | 102 |
| $865,000 | 108 Cornell Rd | BalaCynwyd | 5 | 3 | 4,007 | $899,000 | 158 |
| $950,000 | 95 W Levering Mill | BalaCynwyd | 6 | 3.1 | 3,730 | $949,900 | 9 |
| $260,000 | 1039 Rees Ave | Bryn Mawr | 4 | 1.1 | 1,783 | $289,000 | 248 |
| $879,000 | 1410 Orchard Way | Bryn Mawr | 4 | 3.1 | 2,698 | $879,000 | 10 |
| $939,000 | 872 Roscommon Rd | Bryn Mawr | 4 | 2.1 | 3,139 | $939,000 | 4 |
| $264,000 | 858 Summit Grove | BrynMawr | 4 | 2.1 | 1,390 | $269,000 | 7 |
| $545,000 | 1201 Rose Glen Rd | Gladwyne | 2 | 1.1 | 1,230 | $595,000 | 202 |
| $850,000 | 1125 Club House | Gladwyne | 4 | 3.2 | 4,854 | $869,000 | 7 |
| $720,000 | 304 Mill Creek Rd | Haverford | 5 | 5.1 | 3,696 | $749,000 | 14 |
| $387,000 | 15 Orchard Rd | Merion | 3 | 2.1 | 1,867 | $399,900 | 30 |
| $535,000 | 233 1/2 Hamilton Rd | Merion | 4 | 2.2 | 2,356 | $549,000 | 32 |
| $674,000 | 271 N Bowman Ave | Merion | 4 | 3.1 | 3,284 | $699,000 | 6 |
| $556,000 | 501 Putnam Rd | Merion | 4 | 3.1 | 2,392 | $549,000 | 8 |
| $242,000 | 505 Homewood Ave | Narberth | 3 | 1 | 1,340 | $255,000 | 182 |
| $263,000 | 504 Beechwood Ln | Narberth | 3 | 1 | 1,160 | $268,900 | 303 |
| $320,000 | 39 Sabine Ave | Narberth | 3 | 1 | 1,169 | $325,000 | 4 |
| $390,000 | 401 Dudley Ave | Narberth | 5 | 1.2 | 1,992 | $389,900 | 8 |
| $520,000 | 135 Merion Ave | Narberth | 4 | 2.2 | 2,330 | $529,000 | 35 |
| $532,000 | 3 Langdon Ln | Narberth | 4 | 2.1 | 2,200 | $519,900 | 3 |
| $630,000 | 410 Grove Pl | Narberth | 5 | 2.1 | 3,200 | $710,000 | 55 |
| $391,000 | 1244 Greentree Ln | Penn Valley | 4 | 3 | 2,473 | $375,000 | 10 |
| $657,500 | 825 Bryn Mawr Ave | Penn Valley | 5 | 2.2 | 4,224 | $729,000 | 207 |
| $110,000 | 2 Overbrook Pkwy | PennWynne | 4 | 2.1 | 2,317 | $120,000 | 1 |
| $230,000 | 109 Rock Glen Rd | PennWynne | 3 | 1 | 1,224 | $244,900 | 27 |
| $286,000 | 233 Harrogate Rd | PennWynne | 3 | 2.1 | 1,364 | $279,500 | 20 |
| $295,000 | 1424 Greywall Ln | PennWynne | 3 | 1.2 | 1,588 | $298,500 | 12 |
| $377,500 | 1523 Powder Mill Ln | PennWynne | 3 | 2 | 1,633 | $385,000 | 2 |
| $502,000 | 109 Overbrook Pk | PennWynne | 4 | 2.1 | 2,293 | $499,000 | 5 |
| $450,000 | 308 Saybrook Rd | Villanova | 3 | 3.1 | 2,971 | $500,000 | 323 |
| $100,000 | 1447 Manoa Rd | Wynnewood | 2 | 1 | 1,638 | $130,000 | 37 |
| $455,000 | 1205 Weymouth Rd | Wynnewood | 4 | 2.1 | 3,082 | $419,000 | 3 |
| $575,000 | 223 Gypsy Ln | Wynnewood | 5 | 4.1 | 2,974 | $589,000 | 36 |
| $635,000 | 427 Ballytore Cir | Wynnewood | 3 | 2.1 | 3,300 | $675,000 | 359 |
| $635,100 | 318 Hathaway Ln | Wynnewood | 5 | 3 | 2,784 | $635,000 | 4 |
| $735,000 | 505 Foxglove Ln | Wynnewood | 4 | 2.2 | 2,784 | $749,900 | 13 |
| $750,000 | 267 Hathaway Ln | Wynnewood | 6 | 3.1 | 2,714 | $799,000 | 60 |
| $861,000 | 247 Hathaway Ln | Wynnewood | 6 | 3.1 | 3,372 | $849,000 | 6 |
(If link is expired emai request to Ted@R5Realty.com)
Subscribe to:
Posts (Atom)






