Mainline Micro-Boom: New Luxruy Townhomes Lead Lower Merion End-of-Year Home Sales 150k-750k...

 

Bryn Mawr's new Whitehall units sold out in $650-750k  range.

The 28-home luxury townhome development near Bryn Mawr center known as, Whitehall, sold out quickly and the first resale in the community is our featured sale in Lower Merion.  134 Pennsylvania Ave. - nearly 3000 sf of 3-bed/2.5 bath conveniently-located opulence, was initially sold by Vaughan Builders in February 2012 for $688,500. The  home was resold in mid-December for a nearly identical price. The brisk sales of Whitehall speak well to demand for new construction in walkable quasi city-centers such as Wayne, Bryn Mawr and Ardmore. More high-five to mid-$600,000 brand-new mini-urban opportunities in Lower Merion Township are currently being offered at Haverford Court (N. Buck Lane/Haverford), where Cornell Homes has built a cadre of townhouses somewhat similar in style and substance to the Whitehall venture. Cornell is also breaking ground and marketing its Ardmore entry into this walkable Mainline, townhouse micro-boom. Dubbed "Waterford Walk" (priced in mid $500s) at Lancaster and Wyoming Avenues at the cusp of Ardmore and Haverford, are another batch of town-like, 3-bed, 2.5 bath nests for folks who yearn for suburban living within steps of cafes, restaurants, and chic shopping.

December 2013 Home Sales Transactions in Lower Merion Twp circa $150,000 to $750,000

Street Address	Sold For	Town	Beds	Baths	Sq Ft	Listed For
232 Chestnut Ave	$152,000	Ardmore	3	1	1,419	$162,900
115 Holland Ave	$180,000	Ardmore	6	1.1	1,457	$229,000
200 Cricket Ave	$250,000	Ardmore	3	1.1	1,610	$249,900
204 Cricket Ave	$285,000	Ardmore	5	1	2,084	$284,700
233 Marlboro Rd	$290,000	Ardmore	3	2.1	1,360	$305,000
210 Roberts Rd	$570,000	Ardmore	5	3	2,650	$600,000
14 Rock Hill Rd	$187,500	Bala Cynwyd	3	1.1	1,610	$225,000
16 Rock Hill Rd	$187,500	Bala Cynwyd	3	1.1	1,610	$225,000
126 Ashland Ave	$190,000	Bala Cynwyd	3	1.1	1,533	$234,900
132 Bentley Ave	$250,000	Bala Cynwyd	5	2.1	2,011	$249,900
155 Ashland Ave	$290,000	Bala Cynwyd	4	2	2,348	$315,000
124 E Princeton Rd	$450,000	Bala Cynwyd	4	2	2,124	$459,000
507 Cynwyd Cir	$525,000	Bala Cynwyd	4	2.2	2,706	$569,000
31 Snowden Rd	$599,000	Bala Cynwyd	5	2.1	2,503	$599,000
110 Pennsylvania Ave	$665,000	Bryn Mawr	3	2.1	2,978	$665,000
134 Pennsylvania Ave	$685,000	Bryn Mawr	3	3.1	2,880	$715,000
114 Pennsylvania Ave	$755,000	Bryn Mawr	3	2.1	3,333	$755,000
108 Pennsylvania Ave	$755,000	Bryn Mawr	3	2.1	3,333	$755,000
1015 Barr Ln	$298,000	Gladwyne	2	1	1,258	$298,000
53 Haverford Station	$410,000	Haverford	5	2.2	2,655	$425,000
506 W Montgomery	$432,510	Haverford	4	3.1	2,061	$449,900
24 N Buck Ln	$594,990	Haverford	3	2.1	2,420	$594,990
22 N Buck Ln	$611,879	Haverford	3	2.1	2,323	$589,990
847 Beechwood Dr	$342,000	Havertown	3	2.1	1,805	$359,000
226 Stoneway Ln	$250,000	Merion	3	1	1,600	$259,000
662 S Highland Ave	$565,000	Merion	7	4	6,694	$699,000
350 S Woodbine Ave	$359,900	Narberth	3	3.1	2,027	$359,900
105 Iona Ave	$410,000	Narberth	3	2.1	1,737	$415,000
207 Price Ave	$445,000	Narberth	3	2.1	1,820	$475,000
523 Dudley Ave	$480,000	Narberth	4	2.1	1,881	$475,000
316 Conshohocken	$525,000	Penn Valley	4	3	2,498	$549,000
42 Trent Rd	$210,000	Wynnewood	3	3.1	1,683	$240,000
238 Henley Rd	$258,000	Wynnewood	3	1.1	1,200	$268,000
109 Overbrook Pkwy	$266,000	Wynnewood	4	2.1	2,293	$299,900
209 Trent Rd	$280,000	Wynnewood	3	1.1	1,206	$289,900
268 Trent Rd	$292,132	Wynnewood	3	2.1	1,581	$299,000
147 Trent Rd	$311,500	Wynnewood	4	2.1	2,058	$329,900
407 Witley Rd	$365,000	Wynnewood	3	2	1,570	$409,000
601 Haverford Rd	$370,000	Wynnewood	3	2.1	2,298	$390,000
541 Manor Rd	$497,000	Wynnewood	4	2	2,527	$514,000
1222 W Wynnewood	$500,000	Wynnewood	4	3	2,987	$499,000
1515 James Rd	$512,000	Wynnewood	4	2.1	2,280	$529,900
1233 Grenox Rd	$515,000	Wynnewood	4	3.1	3,088	$549,000
1408 Medford Rd	$745,000	Wynnewood	5	3.1	3,353	$849,900

For details on these transactions or to discuss your home's resale value, Email or call  610.348.7972

How Much Money is Needed to Move from Renter to Buyer in Lower Merion, Haverford, Radnor Twps?



41 Lowrys Lane, $200,000

 In much of Lower Merion, Haverford and Radnor Townships, where we primarily focus our efforts, we estimate that about $200,000 is a typical cost for a small, move-in-ready, starter home on a nice, quiet street. There are of course, exceptions, but $200k is where you start to get some options.

This twin (pictured below ) at 41 Lowrys Lane, near 2 train lines and Villanova University, was just reduced to  $200,000, twenty percent less than its previous sale price of $252,000 in 2007. That's a compelling price for the neighborhood, and if the sellers are willing to budge a bit and offer a $10,000 sellers assist toward closing costs, a qualified buyer needs only about $9000 upfront - soup to nuts - to buy this home. Going forward, the total ongoing monthly payment for mortgage/taxes would be about $1425, or about equal to what one would pay if monthly rent for a similar home in the area....

Bottom line: if you have access to about $10,000 either via savings or family gift, and the job/earning security and confidence to make ongoing payments of $1400 month for at least 3 years, it makes sense to consider buying a home in 2013.  Talk to a Realtor (we'd like you to call us of course!) about getting pre-approved for a loan. The preappoval process (like talking to any Realtor) is free and without obligation. You may be pleasantly surprised or possibly very disappointed at how the preapproval process goes, depending on your credit history, debt obligations, and income review.

Our point here is not to sell this particular house, or to encourage anyone to buy a home for whom the decision is not sensible. But people frequently wonder what it takes to make the leap from renter to first-time buyer of a small, move-in ready home in these parts, and our bar is about $9000 cash, $1400/month, plus lender acceptable credit and income.

Home Prices Paid in Haverford and Radnor Townships, Under $650,000, December 2013



Sold: 612 Merion in Havertown. 2058 Sf, 5 Beds, 2 Baths

This gracious, estate-owned  home in the Pennfield section of Havertown, just a short stroll from Karakung Drive, lasted just two days on market before selling at its list price of $350,000. The large, comfortable kitchen needs an updating, but the grandness of hardwood floors, spacious rooms, airy porch and expansive grounds will serve its new owners well. Nearby, 618 Merion also sold in December. Fully rehabbed, it fetched $595,000.


Delco's December 2013 Home Sales: (Radnor/Haverford Twp) $100,000 - $650,000

Street Address	Sold For	Town	Beds	Baths	Sq. Ft.	Listed For
2222 Bryn Mawr	$140,000	Ardmore	3	2	1,604	$169,000
2522 Rosemont	$225,000	Ardmore	3	1.1	1,648	$249,900
2162 E County Line	$275,000	Ardmore	3	1.1	1,430	$279,000
2652 Huntingdon	$620,000	Ardmore	4	3.2	2,269	$649,900
943 Glenbrook Ave	$180,000	Bryn Mawr	4	1	1,306	$179,000
700 S Roberts Rd	$270,500	Bryn Mawr	2	1	1,666	$315,000
8 Old Oaks Rd	$439,000	Bryn Mawr	3	2.1	1,720	$439,000
1333 Virginia Ave	$266,000	Haverford	3	2	1,488	$269,900
604 Woodland Dr	$100,000	Havertown	4	1	1,310	$120,000
3 Waverly Rd	$180,000	Havertown	3	1	1,328	$185,000
145 S Eagle Rd	$189,200	Havertown	3	1.1	1,939	$198,000
4 Strathmore Rd	$215,000	Havertown	4	1.1	1,750	$225,000
3 Fairhaven Rd	$218,000	Havertown	3	2	1,418	$234,000
135 Woodbine Rd	$220,000	Havertown	3	1	1,280	$225,000
303 Brentwood Rd	$222,000	Havertown	3	1.1	1,488	$219,000
656 Washington Ave	$222,000	Havertown	3	2	1,689	$227,500
322 Fairlamb Ave	$225,000	Havertown	3	1.1	1,121	$234,900
22 Fairfield Rd	$225,000	Havertown	3	1	1,380	$244,900
551 Brookline Blvd	$228,000	Havertown	4	1.1	2,842	$250,000
629 Lakeside Ave	$236,000	Havertown	3	2.1	1,272	$249,000
544 Kathmere Rd	$245,000	Havertown	4	1.1	1,282	$239,500
600 Covington Rd	$249,900	Havertown	3	2	1,594	$249,900
261 E Hathaway Ln	$252,500	Havertown	3	1.1	1,304	$259,900
101 Rockland Rd	$255,000	Havertown	4	2.1	2,214	$265,000
205 Ivy Rock Ln	$260,000	Havertown	3	1	1,124	$262,500
144 Rockwood Dr	$265,000	Havertown	3	2	1,254	$269,000
1021 Larchmont	$268,432	Havertown	3	2.1	2,364	$279,900
2548 Prescott Rd	$284,900	Havertown	3	1.1	1,392	$284,900
1437 Norman Rd	$285,000	Havertown	3	1.1	1,368	$299,900
401 Lincoln Ave	$290,000	Havertown	4	1.1	1,540	$299,000
101 Foster Ave	$295,000	Havertown	3	2.1	1,528	$309,900
11 Chelten Rd	$300,000	Havertown	4	1.1	2,254	$340,000
423 Kathmere Rd	$317,500	Havertown	4	2	2,169	$329,900
403 Hastings Ave	$330,000	Havertown	3	2.1	1,697	$335,000
29 Colfax Rd	$337,000	Havertown	4	2.1	2,276	$337,500
612 Merion Ave	$350,000	Havertown	5	2	2,042	$350,000
355 S Manoa Rd	$385,000	Havertown	4	2.1	2,550	$410,000
640 Ellis Rd	$437,000	Havertown	4	3.1	3,220	$450,000
618 Merion Ave	$595,000	Havertown	5	3.1	3,024	$595,000
452 Saint Davids	$505,000	Saint Davids	4	2.1	1,646	$525,000
29 Louella Ct	$295,000	Wayne	2	2	1,868	$365,000
239 Willow Ave	$315,000	Wayne	2	1.1	1,074	$313,000
32 Devonwood Rd	$409,000	Wayne	4	2	1,908	$419,900

For more details on these sales, or to discuss your home's likely value, please Email or call Ted, 610.348.7972.