Ten Reasons the Reluctant Seller Might Reconsider Having a Public Open House After all...

Open Houses: Helpful Tool but Not all Sellers' "Cup of Tea."

For obvious reasons, inviting strangers into your home for an Open House can be a patently unappealing prospect. It's true that few homes are sold on the day of the open house, but home-selling is about creating possibilities and opportunities for the right person, at the right time, to offer the right price and buy your home.

Having an Open House gives many relevant folks (who might not otherwise schedule a showing) a chance to see and promote your house to others. Appealing to these folks (who may tell 2 friends and so on...) make up the best reasons to possibly reconsider an open.
Here's More:

*Beyond getting the word out, We believe the best reason for Sellers to hold Open Houses, is that it's a Showing Time you know about in advance. It doesn't interrupt dinner or cause you to rush home from work mid-day to make the beds and do the dishes! You also  have time to get ready for it and you have time to plan something else to do outside the home.

*Yes, nosy neighbors will come. Other than other real estate agents, they are probably the best word-of-mouth advertisers you can get. They've already bought the neighborhood and make excellent ambassadors to potential buyers.

In addition to Neighbors, others types who are unlikely to book a showing, but whose interest in your home could help affect a sale include:

*Buyers who look forward to regularly sampling each Sunday's Open House smorgasbord, be it motivated by systematic effort or because no appointment is needed.

*Very busy folks who loathe committing to appointments but who will check the web/Patch for Open Houses if they discover an hour or two is available.

*Folks who are uncertain from the exterior (or web images) if the house is for them. Fence-sitters may not want to invest in an appointment but Do pop into opens and DO get pleasantly surprised.

*Commuters to nearby places of work who will see the Open House sign every day prior to Sunday and to whom your house is geographically desirable.

*Out-of-town buyers with limited time and availability, which often meshes well with Sunday afternoons.

*Folks who don't want to feel they are imposing by requesting a private showing, but who are nevertheless bonafide buyers. There's a surprisingly high volume of individuals like this.

*Realtors who each Week feed their Buyer Clients desirable open houses listings and who encourage attendance.

*Realtors who interface regularly with some or dozens of buyers. Even if no current client has expressed interest in a home, good Realtors use Open House opportunities to see as many relevant homes as possible so they can be market-knowledgeable and make suggestions. If the notion of a weekend, open house for the public is untenable, we recommend considering a Broker's Only Open House, which your agent can hold on a weekday afternoon.

Contrary to popular opinion, you can attend your own Open House with no ill-affects. Obviously you don't want to hover and smother folks, but Open-housers usually don't know who is an Agent or who is just another looker. If you can stand it, going undercover at your own open house and hearing the feedback can be an invaluable experience, while providing you with the opportunity to watch over things and obtain the level of comfort necessary to proceed.

- Ted Gross, Prudential Fox & Roach and R5Realty.com News & Notes.
R5Realty News/Notes is written and produced Locally, specifically for Mainline/Philadelphia-area home-buyers and sellers.

Penn Wynne Family Home is Redeemed, Revitalized, Resold at Market Value

1026 Carroll. From Rehab to Resell in 7 months.

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.



...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.

Cost of Homes in Lower Merion and Narberth for September 2012, with list price under a million.

TLC on Bowman. Good Price. Fast Sell

Those who travel Bowman Avenue, in-between Montgomery and Wynnewood Rd., may have noticed this 3800 sf, colonial lasted less than a week on the market this summer. With 5 Beds, 3.5 Baths, and a prime half-acre lot directly across from Merion Elementary School, buyers paid the asking price of $449,000 at settlement this Septemeber..The listing indicated that the home had good bones, but would be sold as-is, in need of a great deal of TLC.

Sold	Street Address	Town	Beds	Baths	Sq Ft	Asked
$168,000	118 Elm Ave	Ardmore	3	1	1,400	$175,000
$185,000	26 N Wyoming Ave	Ardmore	3	1	1,696	$199,000
$253,000	148 Edgemont Ave	Ardmore	3	2	1,350	$269,000
$438,000	1423 W Wynnewood	Ardmore	4	2.1	2,744	$449,900
$315,000	17 Maple Ave	Bala Cynwyd	4	1.1	1,790	$325,000
$175,000	213 Ebenezer Ave	BalaCynwyd	2	1.1	1,296	$179,900
$175,000	173 Maple Ave	BalaCynwyd	2	1	836	$175,000
$236,000	183 School St	BalaCynwyd	4	1	1,408	$275,000
$420,000	320 Llandrillo Rd	BalaCwynwyd	5	3.1	2,538	$425,000
$438,000	21 E Levering Mill Rd	BalaCynwyd	4	4.2	3,191	$495,000
$500,000	4 Snowden Rd	BalaCynwyd	3	2.1	2,535	$499,000
$525,000	16 N Washington Ave	BalaCynwyd	4	2.1	3,054	$524,900
$540,000	338 Llandrillo Rd	BalaCynwyd	4	2.1	2,448	$549,000
$587,500	53 W Lodges Ln	BalaCynwyd	6	2.1	3,053	$599,500
$630,000	40 Derwen Rd	BalaCynwyd	4	3.1	2,990	$645,000
$825,000	1110 Ivymont Rd	Bryn Mawr	4	3.1	2,992	$860,000
$120,000	915 County Line Rd	BrynMawr	4	1.1	1,523	$123,500
$575,000	40 S Roberts Rd	BrynMawr	3	2.1	2,847	$600,000
$275,000	222 River Rd	Gladwyne	3	2	1,168	$299,999
$500,000	10 Conshohocken St	Gladwyne	4	3.1	2,769	$695,000
$640,500	1732 Riverview Rd	Gladwyne	4	2.1	3,180	$649,900
$735,000	1210 Club House Rd	Gladwyne	5	3.1	4,637	$749,900
$435,000	734 S Latches Ln	Merion	6	2.1	3,277	$474,000
$449,000	544 S Bowman Ave	Merion	5	3.1	3,794	$449,000
$450,000	504 Baird Rd	Merion	5	3.1	2,474	$499,900
$490,000	547 Howe Rd	Merion	4	2.1	2,230	$500,000
$215,000	235 Iona Ave	Narberth	3	1	1,238	$225,000
$500,000	455 Hidden River Rd	Narberth	2	2.1	2,016	$500,000
$785,300	1016 Bryn Mawr Ave	Penn Valley	6	4.1	4,767	$784,900
$715,000	436 Penn Valley Rd	PennValley	5	3.1	2,708	$750,000
$850,000	714 Bryn Mawr Ave	PennValley	5	3.2	4,465	$875,000
$570,000	1220 Valley Rd	Villanova	4	3.1	4,109	$639,000
$309,000	18 Allendale Rd	Wynnewood	3	2.1	1,840	$309,000
$314,000	1601 Powder Mill Ln	Wynnewood	3	1	1,320	$309,000
$325,000	131 Overbrook Pkwy	Wynnewood	3	2.1	1,892	$325,000
$350,900	1026 Carroll Rd	Wynnewood	3	2.1	1,932	$345,900
$380,002	1544 Powder Mill Ln	Wynnewood	3	2.1	1,694	$367,500
$452,000	54 Allendale Rd	Wynnewood	4	3	2,016	$475,000
$949,900	640 Montgomery Sch	Wynnewood	6	3.1	4,094	$949,900

September Prices Paid for Homes in Haverford and Radnor Townships listed Under $700,000

Solid Havertown House. Updating needs likely  led to extended stay on Market.

Interior of 529 E Manoa, which recently sold for $230,000 after about one year on the market and multiple price reductions. Located near the intersection of Earlington Rd., this 2000 sf, 3-bedroom home was very well cared for by diligent longtime homeowners; however, the location near busy crossroads and anachronistic interior combined for an extended stay on market and eventual less than desired sale price. Restoring hardwood floors may not have upped the sellers final take significantly, but appealing to current buyers' tastes may have trimmed time to sell in half.

Sold	Street Address	Town	Beds	Baths	Sq Ft	Asked
$170,000	2734 Chestnut Ave	Ardmore	3	1.1	1,520	$171,900
$355,000	105 Shawnee Rd	Ardmore	3	2.1	1,816	$389,000
$270,000	2314 Chestnut Ave	Ardmore	3	1.1	1,266	$279,900
$525,000	2700 Saint Davids Ln	Ardmore	3	2.1	1,728	$539,000
$378,900	2513 Huntingdon Ln	Ardmore	4	2.1	1,972	$378,900
$285,000	2920 Rising Sun Rd	Ardmore	3	1.2	1,987	$289,900
$320,000	33 Golfview Rd	Ardmore	3	2.1	2,040	$350,000
$675,000	102 Arbor Pl	Bryn Mawr	4	2.1	2,658	$700,000
$342,500	231 Lee Cir	Bryn Mawr	3	2	1,610	$360,000
$373,750	221 Rodney Cir	Bryn Mawr	3	2	1,732	$375,000
$165,000	876 Martin Ave	Bryn Mawr	3	1.1	1,312	$189,000
$409,500	124 Buckingham Dr	Bryn Mawr	3	2.1	1,892	$424,900
$401,000	900 Drexel Ln	Bryn Mawr	4	3	2,052	$435,000
$550,000	425 Yorkshire Rd	Bryn Mawr	3	2.1	2,172	$579,900
$180,000	233 Marple Rd	Haverford	4	2.1	2,878	$230,000
$215,000	538 Wales Rd	Haverford	3	1.1	1,172	$218,000
$230,000	529 E Manoa Rd	Havertown	3	1.1	2,039	$249,900
$529,900	1244 Center Rd	Havertown	4	2.1	2,600	$549,000
$245,000	135 Upland Rd	Havertown	4	2.1	1,666	$269,900
$273,000	202 Canterbury Rd	Havertown	3	2.1	1,300	$279,900
$147,500	334 Steel Rd	Havertown	3	1	1,224	$147,500
$140,000	19 Mill Rd	Havertown	3	1	1,248	$152,500
$160,000	716 Howard Ave	Havertown	2	1	700	$165,000
$120,000	1516 Burmont Rd	Havertown	3	1	1,590	$159,900
$458,000	64 E Clearfield Rd	Havertown	6	3.1	3,017	$459,000
$390,000	209 N Lexington Ave	Havertown	3	2.2	2,457	$425,000
$250,000	2443 Whitby Rd	Havertown	3	1	1,440	$257,500
$190,000	408 Spring Rd	Havertown	3	1.1	844	$199,900
$290,000	1720 Bellemead Ave	Havertown	3	2	1,660	$299,900
$225,000	309 E Hathaway Ln	Havertown	4	1.2	1,344	$219,900
$283,500	1504 Sunnyhill Ln	Havertown	3	1.2	1,778	$287,000
$304,000	1400 Robinson Ave	Havertown	4	2	2,097	$304,900
$374,000	1206 Manor Rd	Havertown	5	3.1	2,346	$375,000
$290,000	221 Ellis Rd	Havertown	3	2.1	1,620	$296,000
$288,000	1525 Sunnyhill Ln	Havertown	3	2.1	1,728	$288,000
$217,000	519 Central Ave	Havertown	3	1	1,388	$220,000
$324,900	312 Lincoln Ave	Havertown	3	2	2,134	$324,900
$317,000	1415 Dorchester Rd	Havertown	3	2	2,000	$317,547
$190,000	14 W Marthart Ave	Havertown	3	1	1,472	$199,999
$123,000	209 Glendale Rd	Havertown	3	1.1	2,093	$134,500
$125,000	411 W Langhorne Ave	Havertown	3	1	1,404	$137,500
$557,000	450 S Ithan Ave	Villanova	5	3.1	4,346	$599,000
$539,000	213 Hardwicke Ln	Villanova	5	4	2,668	$539,000
$600,000	157 Wooded Ln	Villanova	5	3.1	3,084	$624,900
$464,000	417 W Beechtree Ln	Wayne	5	2.1	1,898	$479,000
$250,000	413 W Beechtree Ln	Wayne	5	2	2,026	$299,000
$297,175	147 Morningside Cir	Wayne	4	1.1	1,502	$310,000
$385,000	553 W Wayne Ave	Wayne	4	2.1	2,672	$445,000
$355,000	332 S Devon Ave	Wayne	3	2	1,267	$365,000
$312,000	528 W Wayne Ave	Wayne	3	2.1	2,200	$369,000