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.

Tuesday, June 26, 2012

Pricing Your House to Sell: Don't Be Cute!

When I see list prices like $428,031 two things come to mind.
(A) What game is the homeowner or realtor playing? and
(B) What is wrong with this house that it's unworthy of a staid and direct price?
Consumer science may prove me wrong, but I believe that attempting to attract Home Buyers' attention with an odd-ball price is a bad idea.

By odd-ball, I'm referring to a price which has ending digits anything other than a zero or a nine. I'd like to say that any house price with a final digit other than a zero is absurd; however, since just about every consumer product is priced to 999 or 99, we're culturally saturated to view this as ordinary and expected.
Respect the gravity of the process and the need for transparency on both sides of the transaction. When homeowners and Realtors try to get cute and sassy with price, it gets the whole process off to a bad start. Everyone is nervous about paying too much or selling for too little, and one way to assuage this anxiety is to promote an aura of directness and transparency. A goofy house-price does not nothing to promote these essential goals.

A list price with a crooked dollar amount is a distraction from the vital interest at hand; namely, is the price either: cheap, fair, or too high. Obfuscating this inevitable, qualitative, decision-making prices with a goofy number is, to me, indicative of a lack of respect for the gravity of the process, as well as just bad manners. Home sellers - and their agents, -should present their product forthrightly and in a manner that fosters transparency and inspires sober valuation.

What Sold this June in Lower Merion under a Million? Bala, Merion and Wynnewood Homes Lead the Pack

 1134 Ashton Kitchen. Handsomeness rivals Ashton Kutcher
Sellers upgraded and let  this youthful, 2100sf home go to new owners in June for $460,000. Located on  quiet Ashton Rd., a brief walk to Wynnewood Shopping Center and train, this 30-year old of Contemporary design had a first-class kitchen conveniently flowing into dining/entertaining space. Other perks: large basement, finished for office and playroom space, as well as  nicely updated baths. Listed for 535k last fall, having only 3 beds and an oddly shaped lot may have contributed to time on market.

Street AddresssTownSold ForBedsBathsSq FtListed For
39 Chatham RdArdmore$320,000 31.21,332$324,900
200 Wister RdArdmore$865,000 53.14,976$895,000
132 Ebenezer AveBala Cynwyd$270,000 31.11,621$284,000
729 Conshohocken Bala Cynwyd$340,000 433,108$450,000
5 W Amherst RdBala Cynwyd$380,000 321,900$400,000
358 Trevor LnBala Cynwyd$400,000 42.22,019$399,000
61 W Princeton RdBala Cynwyd$460,000 32.12,066$465,000
24 N Highland AveBala Cynwyd$477,000 52.12,552$474,900
66 W Princeton RdBala Cynwyd$492,000 42.12,318$499,900
7 Overhill RdBala Cynwyd$535,000 54.12,860$529,000
374 Bala AveBala Cynwyd$580,000 52.12,656$582,500
42 Overhill RdBala Cynwyd$620,800 63.13,838$649,000
26 Overhill RdBala Cynwyd$645,000 53.12,855$649,000
1012 Mount PleasantBryn Mawr$790,000 43.14,264$880,000
1814 Blackberry LnGladwyne$440,000 43.13,225$449,900
1125 Robin RdGladwyne$722,420 43.23,845$750,000
211 Edgehill RdMerion Station$370,000 42.22,105$384,900
204 Idris RdMerion Station$310,515 321,428$324,900
308 Baird RdMerion Station$529,000 42.12,740$529,000
526 Winding WayMerion Station$541,000 33.12028$549,000
30 Berwick RdMerion Station$700,000 53.23,726$775,000
310 Maplewood RdMerion Station$750,000 43.23,080$775,000
335 Brookway RdMerion Station$869,000 73.15,247$869,000
526 Dudley AveNarberth$350,000 31.11,282$375,000
19 Woodbine AveNarberth$433,750 31.11,570$439,900
436 Haverford AveNarberth$461,500 42.12,072$474,900
18 Narwyn LnNarberth$482,500 52.12,776$499,000
123 Woodside AveNarberth$485,000 51.12,084$525,000
708 Broad Acres RdNarberth$520,000 43.12,871$600,000
101 Foxhall LnNarberth$630,000 42.23,202$649,000
610 Shady LnNarberth$700,000 52.12,701$695,000
319 Hidden River RdPenn Valley$505,000 32.11,839$529,000
918 Hagys Ford RdPenn Valley$765,000 443,623$800,000
58 Rock Glen RdWynnewood$272,000 32.11,646$272,000
1453 Braddock LnWynnewood$272,500 31.11,242$272,500
1515 Powder Mill LnWynnewood$300,000 32.11,991$339,500
319 Haverford RdWynnewood$340,000 42.12,166$329,000
846 Delmont DrWynnewood$341,500 32.11,502$350,000
321 Haverford RdWynnewood$410,000 32.12250$429,000
919 Clover Hill RdWynnewood$410,000 32.11,851$450,000
1026 Stanford DrWynnewood$412,000 42.12,890$429,900
1134 Ashton RdWynnewood$465,000 32.12,084$485,000
551 Hansell RdWynnewood$552,000 33.13,385$595,000
10 Wiltshire RdWynnewood$562,500 43.12,796$575,000
37 Greenhill LnWynnewood$567,000 44.13,289$567,000
428 Roslyn LnWynnewood$624,000 42.13,130$609,000
622 Loves LnWynnewood$650,000 32.12,496$650,000
245 McClenaghan MillWynnewood$750,000 42.23,171$819,000
535 Ballytore RdWynnewood$765,000 332702$799,000
548 Hansell RdWynnewood$765,000 53.13,649$765,000
564 Hansell RdWynnewood$819,000 63.13,559$849,000
269 Hathaway LnWynnewood$825,000 53.13,025$840,000
1401 Medford RdWynnewood$882,500 63.13,490$899,900