M. Night Shyamalan's Intern Now Lower Merion Real Estate Agent Haunting Philadelphia and its Suburbs



Lower Merion's Favorite Son: M. Night Shyamalan

 In the mid-1990s, while still transitioning from our unraveling family wallpaper business into residential Real Estate sales with Prudential, I volunteered to work for a then all-but-unknown, aspiring filmmaker by the name M. Night Shyamalan. At the time, Shyamalan kept ground-floor office space in the lovely villa-inspired confines of the Whitehall Apartments (now Casa Del Sol) on Lancaster Avenue in Haverford, Lower Merion, while working on what I turned out to be a wonderful screenplay adaption of  E.B. White's Stuart Little.

With little in the way of other employment prospects or pressing expenses at the time - and under the guise of "do what you like and the rest will follow.' (I like movies!),  I indulged the Shyamalan's  summer "internship" with a similar position at Philadelphia's community non-profit Scribe Video Center.


`Casa Del Sol' Apts. housed Shyamalan's Office

  What followed at Shyamalan's office included several weeks of monitoring then print-only edition of  "Variety" magazine to help keep M. Night and his team up-to-date with industry news and developments. I also assisted in upgrading Shyamalan's internet navigation crew regarding what was, at the time, a mysteriously burgeoning "information super highway" aka The Internet.  Things were going smoothly for a week or so until I was sat down in front of the VCR-TV to screen Shyamalan's first two feature films, his NYU student-feature Praying with Anger, and the in-the-works to be released Miramax family-film "Wide Awake," starring Rosie O'Donnell. and Dennis Leary. Following the viewings I was asked how I liked the films.



I Admit to Having No 6th Sense Re: Hollywood 

With no aspirations of becoming an unpaid sycophant (not that I was pressured to be one), I gave my honest gut reaction to "Praying with Anger" and "Wide Awake"  Thus ended my ephemeral connection to the now world-famous celluloid auteur. I shook hands with he who would become Lower Merion's most famous film-maker of the 21st century, was graciously thanked for my time, and was shown the door. 

Eventually, I really enjoyed Stuart Little and of course, the wonderfully creepy Sixth Sense. I had no idea the diminutive, young director of the two videos which I viewed in the basement of the Whitehall Apartments would go on to produce such majesty and success.

No regrets. I never had any film production chops and no matter how hard I might have tried to ingratiate myself, its wildly unlikely I would have taken a glittery-ride on Shyamalan's coat-tails. The she-bang left with me with an interesting anecdote and an awareness to always keep an open mind about  my own 6th Sense.

Lower Merion Realtor to Philadelphia Inquirer: Sellers Seize Momentum by Pricing Your Home Smartly



Sellers: Be Like Bob Dylan (or don't) but Adapt!

 For an upcoming feature, the Philadelphia Inquirer  queried local real estate agents:  
What advice would you give Home Sellers in the Philadelphia area?

My reply, with homage to Satchell Paige, D.A. Pennebaker and Bob Dylan, is geared toward Sellers who aim to sell and then Buy a new home in the current market.


Don't look back. Be bold. Be empowered. Realize Things have Changed and be the one in charge by adapting to the current realities of today's marketplace. Those who sold in the mid-2000s seller's market and got 10-20% more than today's prices likely gave that gain right back when paying an inflated price for a new home in that heated market. Same principal applies today but in reverse.

Price your home to aggressively to sell based on 2011 market values and use the momentum to re-energize your home-ownership investment by getting a great deal when you buy in today's value market. With interest rates so attractive, there is no reason you can't make out as good or better than ever by recognizing the synergy of today's residential real estate realities. You don't need a Realtor to know which way the wind blows but R5Realty's Ted and Heather Gross would be happy to help you test the wind, set sail, and Let's Get Movin.'

Lower Merion Home Prices February 2011

Chart below includes Lower Merion Township home prices paid up to 1 Million from late Jan to late Feb 2011.  The "Offered At" price below reflects each home's asking price at the time a deal was contracted.  
Frequently the Initial  "Offered At" price was significant higher when property was first listed,  and it was reduced over time to what you see below. For details, questions, inquiries, we'd like to hear from you. Email Us info@R5Realty.com

Street Address	Beds	Bath	Offered At	Sold Price	Town - Station
148 Saint Pauls Rd	3	1	$239,900	$225,000	Ardmore
340 Inwood Rd	3	1.1	$278,500	$261,000	Ardmore
315 W Spring Ave	4	1.1	$279,900	$270,000	Ardmore
228 Edgemont Ave	4	2.1	$329,018	$317,000	Ardmore
120 Sibley Ave #306	2	2	$429,000	$415,000	Ardmore
42 Conshohocken 7B	1	1	$155,000	$138,000	Bala Cynwyd
600 Belmont Ave	3	2.1	$259,900	$228,000	Bala Cynwyd
700 Belmont Ter	4	2.1	$296,500	$275,000	Bala Cynwyd
12 W Dartmouth Rd	4	2.1	$399,000	$393,000	Bala Cynwyd
532 Cynwyd Cir	3	3	$450,000	$423,950	Bala Cynwyd
28 W Amherst Rd	4	2.1	$550,000	$502,500	Bala Cynwyd
190 Presidential  613	2	2.1	$579,000	$535,000	Bala Cynwyd
124 N Merion Ave	4	3.1	$499,000	$507,700	Bryn Mawr
1012 Broadmoor Rd	3	3.1	$699,000	$700,000	Bryn Mawr
227 Pennswood Rd	6	4.1	$995,000	$960,000	Bryn Mawr
1148 Maplecrest Cir	3	1.1	$375,000	$370,000	Gladwyne
364 Youngsford Pl	3	2.1	$599,000	$575,000	Gladwyne
432 W Montgomery 201	3	2	$275,000	$230,000	Haverford
130 Avon Rd	3	2	$495,000	$485,000	Haverford
134 Rockland Rd	3	1	$175,000	$156,600	Merion
170 Idris Rd	3	1.1	$315,000	$305,000	Merion
534 Hamilton Rd	4	3.1	$659,900	$627,000	Merion
717 Woodfield Rd	5	3.1	$575,000	$545,000	Villanova
211 Harrogate Rd	2	1	$175,000	$135,000	Wynnewood
1219 W Wynnewood  504	2	2	$172,000	$164,000	Wynnewood
1416 Westwood Ln	3	2	$214,900	$175,000	Wynnewood
1001 City Ave WA205	3	2.1	$245,000	$210,000	Wynnewood
225 Haverford Rd	3	2.1	$249,900	$225,000	Wynnewood
1515 Brinton Park Dr	4	1.1	$299,900	$308,800	Wynnewood
106 Rolling Rd	3	1.1	$319,000	$310,080	Wynnewood
1351 W Indian Creek Dr	4	3.2	$400,000	$377,300	Wynnewood
121 Anton Rd	3	2	$459,000	$435,000	Wynnewood
634 Greythorne Rd	4	2.2	$499,000	$509,000	Wynnewood
414 Minden Way	6	5.2	$975,000	$763,000	Wynnewood

Downtown Philadelphia Condo Prices February 2011

Tomorrow: R5Realty.com updates Lower Merion 2011 Prices.

Chart includes Downtown Philadelphia area condo prices paid up to 1 Million from late Jan to late Feb 2011. The "Offered At" price below reflects each unit's asking price at the time a deal was contracted.  Frequently the Initial  "Offered At" price was significant higher when property was first listed and was reduced over time to what you see below. For details, questions, inquiries, we'd like to hear from you. Email Us info@R5Realty.com

Condominium	Beds	Baths	Offered at	Sold For	Philadelphia
2001 Hamilton St PKG313	0	0	$33,000	$32,200	Art Museum
813 N 16th St C	1	1	$78,500	$78,000	Art Museum
2001 Hamilton St 926	1	1	$209,900	$192,000	Art Museum
1527 Fairmount Ave 2R	2	1.1	$229,900	$200,000	Art Museum
1531 Fairmount Ave 2R	2	1.1	$209,900	$202,500	Art Museum
1533 Fairmount Ave 2R	2	1.1	$209,900	$205,000	Art Museum
1531 Fairmount Ave 2F	2	1.1	$239,900	$239,000	Art Museum
1531 Fairmount Ave 1	2	1.1	$319,900	$267,000	Art Museum
2001 Hamilton St 925	2	1	$299,900	$284,700	Art Museum
2103 Green St 3R	2	2	$299,000	$290,000	Art Museum
1535 Fairmount Ave 2R	2	1.1	$209,900	$209,900	Art Museum
315 Arch St 609	1	1	$189,900	$169,000	Center City
2101-17 Chestnut St 710	1	1	$215,000	$193,500	Center City
2101-17 Chestnut St 1817	1	1	$199,900	$199,900	Center City
604-36 S Washington Sq 1004	0	1	$215,000	$200,000	Center City
130-36 N Bread St 402	1	1	$219,000	$219,000	Center City
113 A Cuthbert St	1	1	$255,500	$240,000	Center City
1420 Locust St 20R	1	1	$259,900	$240,000	Center City
1500 Chestnut St 13E	1	1	$244,000	$240,000	Center City
1600-18 Arch St 1208	1	1	$269,900	$240,000	Center City
1919 Chestnut St 2624	2	1	$265,000	$250,000	Center City
2020 Walnut St 9K	1	1	$280,000	$250,000	Center City
2302 Spruce St 2	1	1	$274,500	$261,500	Center City
1600-18 Arch St 915	1	1	$299,900	$299,900	Center City
1420 Locust St 24F	2	2	$349,900	$300,000	Center City
2301 Cherry St 3C	2	2.1	$360,000	$320,000	Center City
224-30 W Rittenhouse Sq 1716	1	1	$349,000	$340,000	Center City
23 S 23rd St 2B	2	2.1	$439,900	$370,000	Center City
2101 Market St 804	1	1	$399,000	$399,000	Center City
200 Locust St 17F&G	2	2	$649,900	$622,500	Center City
210 W Washington Sq 2SW	1	1.1	$725,000	$687,500	Center City
2200 Arch St 1203	2	2	$749,900	$785,000	Center City
233 S 6th St 2301	2	2	$890,000	$848,000	Center City
224-30 W Rittenhouse Sq 3201	2	2.1	$1,000,000	$925,000	Center City

Some Narberth Homes Selling Faster Roy Halladay Heater

Two attractive Narberth homes went swiftly under contract this week, as did a promising center-hall colonial in Bala Cynwyd's College Park section. Each of these properties had their own distinct charms, but what they share in common is they each were quickly plucked off the market faster than a Roy Halladay fastball whooshes past a hapless New York Met!.

 218 Forest Ave. Narberth $469,000

The past couple years, most Main Line homes have tended to have their time "on market" measured in months, but 218 Forest Avenue  ($469,000 Prudential) was posted "under agreement" * less than two-weeks after the 4-Bed, 2.5 Bath Narberth home made its debut on the market. I toured the home and found it handsome but was most impressed with its location on quiet, tree-lined Forrest Avenue, which gently slopes upward just blocks from downtown Narberth and thusly sees relatively little traffic or owner turnover.

339 Dudley was offered at $384,900

A smaller 3-Bed, 1-Bath at  339 Dudley Ave. (Long & Foster) in Narberth was listed "under agreement" on February 22, just 23 days after hitting the market. Like the home at 218 Forrest, the 1862 sq. foot Dudley Avenue house had a prime location, nice updating, but indicated no central air conditioning.

$450,000 was list for 515 Oxford Rd.

This week's winner in  R5Realty's Rush-to Buy Sweepstakes was  the air-conditioned, stone and brick colonial at 515 Oxford Rd. in Bala Cynwyd, which lasted just over 72 hours before having its "Active" status modified on the Realtors' multiple listing service.

While each of the above homes is currently "under contract" to be sold, all have contingincies related to their accepted offers. This is completely standard, and it is possible one or all may eventually return to market for lucky future homeowners. You can check the latest status with Prudential (R5Realty's) Buyer-Agents Ted and Heather Gross via email or phone, 610.348.7972.


Bottom line is the Home-Buying season is here, and despite national malaise, the most attractive, smartly-priced and well-located homes are still awarded to the buyers/bidders who work with a full-time Realtor that knows the local market and who is poised to help buyers act intelligently and swiftly.

*(Update 2.25- Since this original posting the agreement for 218 Forest Ave. has been negated and this home is once again Active and up for grabs). 

Ardmore home rehabbed sold for nearly twice cost

Rehabbed Ardmore Single sold for 265K

This 4BR/1.5 Bath   1300sf Lower Merion/Ardmore single - near Spring & Holland Aves. was purchased at its list price of $150,000 approx 1/1/2010. I toured the 1400 sf home at the time and was impressed with its potential, especially given the attractive price. It needed a lot of updating but had solid bones and was snapped off the market in 3 days at the above state price.

By May 2010  the rehab, including Central Air, was complete and the home was put on the market for 299k. Approx. one year after the Jan 2010 purchase, this home was purchased in early 2011 for $262,500 after sellers assist. I  think the proud new owners got a great deal for a handsome renovated single-family home in the Lower Merion School District, just  steps from the hallowed greens of Haverford College and vibrant downtown Ardmore. I sincerely hope the rehabbers/sellers did as well on the flip as their lucky buyers.

A home in a diverse, transitioning neighborhood was handsomely restored, reasonably priced, and ideally a win-win for the buyers, sellers and neighbors. This home was perhaps priced so well prior to rehab because it was a guardianship/estate-type of situation.

Full-time Realtors such as Ted and Heather Gross, 610.348.7972, scrape the multiple listings service daily for outstanding values, and our services as your Buyer's Rep come at no charge as we earn commissions via the sellers. Don't hesitate to email us or call us direct if you are looking for a home in R5 Rail country, including Lower Merion, Radnor, Philadelphia townships. Call or email  info@R5Realty.com .

Lower Merion Rentals in R5 Country including Philadelphia and Delco.

Our aim in this and all R5Realty posts is to educate and demistify the process of buying and renting Real Estate. Helping people buy, sell, rent homes is what we do for a living, but in the interest of full disclosure, I dont believe a Realtor is the answer to every home-buying/selling situation and am not afraid to say so.
There are; however, exceptions to every rule. We're here to Help and be a Resource for home finders/sellers in the Western suburbs & Philly, so please dont hesitate to call, 610.348.7972 or email info@R5Realty.com.  

There are instances when using a Realtor to find a rental is a good idea, especially when you are looking in an unfamiliar area,  but I truly believe Craig's List is the best resource when looking for a house or apartment to rent. Yes, Craig's is chock-full of scammers and folks who  have been ripped off. But the same thing is true of say, car dealerships, yet people successfully buy cars from dealers all the time with wonderful results.
.

Some "Pros" of using a Realtor to find you a rental:
1- Having a Realtor involved introduces an element of professionalism and a code of ethics into the process of entering into a rental agreement. A Realtor can be of great assistance in protecting your rights as a renter and act as a buffer for any negotiations.
2- Realtors also have access to properties which can only be found only on the Multiple Listing Service and not accessible to the general public.
3- Realtors are generally compensated by the Landlord and it usually costs you nothing to have a Realtor help you find a rental.
4- If you dont know that much about the area/region/town in which you wish to rent, have a Realtor helping you can have enormous benefits in making sure you make a good decision about where to rent.

Some "Cons" of having a Realtor find your rental:
1- Many landlords do not compensate Realtors for delivering a tenant. Practically, there is no incentive for a Realtor to help you find a place when there is no commission reward. For many many available rentals there is nothing monetarily in it for the Realtor - so a Realtor may have an interest in showing you just a fraction of what is available.
2-Some landlords prefer to have a Realtor manage the process of finding a tenant, but very many feel they can do it just fine by themselves via a free craig's list advertisement. There is no law or rule of thumb and everything is negotiable, but typically I see that Landlords pay a commission of one month's rent when employing a Realtor to handle the renting. If Realtor A is the Listing Realtor and Realtor A also brings the renter to the table, the money involved isn't bad. But when Realtor A (the Listing Realtor) gets the tenant from Realtor B (the renter's realtor), the commission money is split between Realtor A and Realtor B. Once each Realtor's Broker takes a cut, there is very little cash left on the table to make it worth either Realtors time.
3- Bottom line is most Realtors (with significant exceptions) can't put food on the table with  rentals. Motivation is low and effort expended is rarely met with worthwhile rewards. And since a preponderance of landlords don't wish to pay Realtors a commission, Realtors are likely only going to show you a small slice of the available, commission-backed, rental market.

NEVERTHELES - Go ahead and give a Realtor a try if your are looking for a rental. While most Realtors inventory of available rentals that pay commissions may be small, you just might find a diamond in the rough. Some excellent rentals and apartments are Only advertised via the Realtor network and not findable anywhere else. So if looking for a rental, contact a local realtor and see what he or she can do for you. But definitely do let the Realtor know you will also be doing your own search via newspaper or CraigsList.

BY ALL MEANS, never EVER pay a fee to anyone, especially anyone on CraigsList in order to find a rental in Philadelphia or its suburbs. And of course always use common sense when meeting a stranger. Ideally, don't go alone when responding to a CraigsList ad and consider calling a friend when you meet the landlord. Make sure the prospective landlord overhears you describing where you are, who you are with, and other vital facts to discourage any nonsense. There are creeps on CraigsList, but I have also found it to have  the most comprehensive, diverse list of available rental homes. And most of CraigsList advertisers are good folks like you and me.

Philadelphia Home Sale Prices January 2011

Chart includes Phiadelphia R5-Area sales up to 1 Million from Dec.21 to Jan 22. Most importantly, the asking price, or 'Last Price' on the chart, indicates the home's price before selling. In many cases, the original asking price started out much higher. For more details,  questions email Ted Gross: info@R5Realty.com

Street Address	Beds	Baths	Last Price	Sold For	Philadelphia
841 Perkiomen St	3	3.1	$179,500	$172,500	Art Museum
2001 Hamilton St 617	1	1	$179,900	$170,000	Art Museum
2601 Pennsyl. Ave 1114	1	1	$189,000	$172,000	Art Museum
2601 Pennsyl. Ave 553	2	1	$184,900	$175,000	Art Museum
2401 Pennsyl. Ave 5C49	1	1	$194,500	$180,000	Art Museum
1705-11 Green St 1711B	1	1	$220,886	$221,000	Art Museum
2001 Hamilton St P201	1	2	$265,000	$232,000	Art Museum
882 N Myrtlewood St	2	1	$259,000	$255,000	Art Museum
792 N Taney St	4	1.1	$299,000	$275,000	Art Museum
2707 Folsom St	2	1	$295,000	$290,000	Art Museum
3008 Cambridge St	3	3	$339,000	$295,000	Art Museum
1924 Wallace St	5	2.1	$450,000	$330,000	Art Museum
558 N Judson St	3	2	$434,900	$405,000	Art Museum
2214 Brandywine St	3	2.1	$450,000	$476,000	Art Museum
1900 Hamilton St 704	2	2	$499,900	$495,000	Art Museum
655 N 24th St	4	2.1	$625,900	$560,000	Art Museum
2323 Pennsylvania Ave	3	2.1	$619,900	$575,000	Art Museum
823 N 24th St	4	3.1	$599,900	$603,000	Art Museum
1847 North St	3	3	$749,000	$701,000	Art Museum
1919 Chestnut St 2823	0	1	$149,000	$130,000	Center City
2831 Cambridge St	3	1.1	$169,000	$162,000	Center City
2301 Cherry St 12E	2	2.1	$382,500	$360,000	Center City
1600-18 Arch St 1814	1	2	$392,000	$360,000	Center City
207 S 24th St 2R	2	1	$479,000	$436,000	Center City
1425 Locust St 8A	2	2	$489,000	$470,000	Center City
1425 Locust St 8A	2	2	$489,000	$470,000	Center City
1425 Locust St 23B	2	2	$525,000	$500,000	Center City
1425 Locust St 28B	2	2	$559,900	$525,000	Center City
2101 Market St 2706	2	2	$599,900	$550,000	Center City
340 S 17th St	3	3.1	$675,000	$600,000	Center City
220 W Center CitySq 22B	3	2.1	$1,000,000	$900,000	Center City
1632 Spruce St 100	3	3.1	$995,000	$915,000	Center City
2040 Arch St	3	2.1	$540,000	$530,930	Center City
2311 Perot St	3	2.1	$695,000	$623,000	Fairmount
1727 Francis St 2R	2	1.1	$210,000	$195,000	Francisville
713 Shirley St A	2	2.1	$309,900	$305,000	Francisville
715 Shirley St B	2	2.1	$329,900	$322,250	Francisville
728 N Union St	4	1.1	$125,000	$125,000	Mantua
730 N Union St	4	2.1	$125,000	$125,000	Mantua
425 N 42nd St	3	1	$99,900	$134,900	PoweltonVillage
4067 Filbert St	3	1.1	$124,900	$113,000	UniversityCity