New Listing – Swarthmore, PA – 506 Ogden Avenue – 5 Bed 3.5 Baths

Welcome To 506 Ogden Avenue - Swarthmore PA

Welcome To 506 Ogden Avenue – Swarthmore PA

506 Ogden Avenue – Swarthmore, PA 19081

OPEN HOUSE – Sunday August 2, 2015 From 1 To 3

This home has been completely rehabbed from top to bottom. Featuring 5 bedrooms and 3.5 baths and over 3,000 square feet of living space this home offers all the conveniences of contemporary living and design while preserving the home’s original architectural style. Renovations include new stucco exterior, new windows, new roof and gutters, new 200 AMP electrical service and wiring, new plumbing, new hardwood floor throughout the main level, new exterior doors, new 1 car attached garage, new insulation, and new drywall. The lush front yard has new sod and plantings and a paved walkway with circular courtyard that leads to the front entrance.

Wallingford PA Real Estate - Wallingford PA - 506 Ogden Ave - Swarthmore PA - Kitchen Island

Gourmet Kitchen With Island

The main level features a family room with a restored fireplace, powder room, and exit to the back yard. The kitchen is a chef’s dream with Shenandoah self closing cabinets and drawers, granite countertops, natural tile backsplash, center island with pendant lighting, convection and microwave ovens, and gas cook top.

Great Room With Coffered Ceiling Leads To The Screened In Porch

Great Room Leading To The Screened In Porch

Step down from the kitchen and enter the great room that has a coffered ceiling and French doors leading to a screened in porch that overlooks the backyard with a privacy wall.

Master Bedroom With Window Alcove

Master Bedroom With Window Alcove

The spacious master bedroom has an attached bath with a bathtub and shower, vanity with dual sinks and mirrors and a walk in closet. A door leads to a private balcony overlooking the backyard.

View Of Home From The Backyard

View Of Home From The Backyard

If you have any questions or would like to schedule a visit to this fine home click here to contact me.

Wallingford PA Real Estate – Wallingford, PA 19086

Swarthmore Real Estate – July 20, 2015 To July 26, 2015

Swarthmore Real Estate - Swarthmore PA - Real Estate Market  Update

A weekly review of recently sold homes in Swarthmore PA and current market statistics.

There are 29 homes listed for sale in Swarthmore on July 29, 2015. There are 2 settlements scheduled for this week.

Amidst all the positive news surrounding the housing market some sobering data was released this week regarding the nation’s home ownership rate. The share of Americans who own their own homes has fallen to a five decade low of 63.4%. Thhe Census Bureau reports that this number represents the lowest reading since 1967.

Swarthmore Market Snapshot – 29 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$358,403 $349,900 $85,000 $998,000 135
Single/Twin Market Snapshot – 19 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$472,342 $415,000 $279,000 $998,000 133
Condo/Townhouse Market Snapshot – 10 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$142,920 $131,950 $85,000 $224,900 138

*DOM = Days On Market

Swarthmore home went under contract

1 new listing came onto the market

No listings expired

No listings were withdrawn from the market

6 homes are Under Contract at this time

2 Swarthmore homes sold last week.

Swarthmore Homes Sold July 20, 2015 To July 26, 2015
ADDRESS BED BATH PRICE SETTLED DOM
107 Rutgers Avenue H4 2 1.0 $121,000 07/20/15 34
516 Walnut Lane 5 2.2 $610,000 07/24/15 45
AVERAGE $537,000 40

Swarthmore, PA 19081 Real Estate Update

Wallingford PA Real Estate – July 20, 2015 To July 26, 2015

Wallingford PA Real Estate - Wallingford - Wallingford Market Review

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 89 homes listed for sale in Wallingford PA and Nether Providence Township on July 28, 2015.

Existing homes sales for June reported in at an annualized pace of 5.49 million, up 3.2% from May. existing home sales are up 9.6% year over year. Median home price was reported at $236,400, up 6.5% year over year, which establisshes a new historical high.

Wallingford Market Snapshot – 89 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$338,034 $299,900 $88,749 $869,900 113
Single/Twin Market Snapshot – 71 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$372,067 $349,900 $97,000 $869,900 112
Townhouse/Condo Market Snapshot – 18 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$179,869 $183,500 $89,749 $299,900 122

*DOM = Days On Market

4 Wallingford PA homes went under contract

4 new listings came onto the market

No listings expired

No listings were withdrawn from the market

23 homes are Under Contract at this time

1 Wallingford PA home sold

Wallingford Homes Sold July 20, 2015 To July 26, 2015
ADDRESS BED BATH PRICE SETTLED DOM*
611 Scott Lane 3 2.0 $375,000 07/21/15 225
AVERAGE $375,000 225

*DOM = Days On Market

No homes sold with a Seller Assist:

Wallingford PA Real Estate – Wallingford, PA 19086

Why Not All Contracts Close

contract

Realtors were asked the question – how many pending sales actually go to closing? The answer is “almost all” with only 7% to 8% of contracts terminating.

An increasing problem is contracts that where closing is delayed. Mortgage processing is the primary cause for delays. There is no such thing as a guaranteed settlement date, and it is wise to make plans in case such a delay occurs.

– 63% of contracts are reported as settling on time
– 29% of contracts are delayed, but eventually go to settlement
– Seven to eight percent of contracts do not close—i.e., they are terminated.  Generally the potential buyer moves on to another purchasing opportunity

The top 3 reasons why a contract does not close are – financing, issues, appraisal issues, and home inspection issues.

Wallingford PA Real Estate – Wallingford, PA 19086

Swarthmore Real Estate – July 13, 2015 To July 19, 2015

Swarthmore Real Estate - Swarthmore PA - Real Estate Market  Update

A weekly review of recently sold homes in Swarthmore PA and current market statistics.

There are 30 homes listed for sale in Swarthmore on July 22, 2015. There are 2 settlements scheduled for this week.

Changes in down payment requirements have more influence over home buyers’ willingness to buy than changes in mortgage rates, according to a new study published by economists at the New York Federal Reserve.

The Fed’s survey of buyers and renters found that the impact of interest rates may be overrated compared to the even the smallest changes in down payment requirements. The study found that dropping the required down payment from 20% to 5% increases the willingness to purchase, on average, by 15% among buyers and 40% among renters.

On the other hand, decreasing the interest rate on a 30-year fixed-rate mortgage raised the willingness to purchase a home by only 5%, on average. Buyers showed more influence by down payment changes even though the mortgage rate change could save them more money than the lower down payment.

Swarthmore Market Snapshot – 30 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$338,893 $342,400 $85,000 $998,000 138
Single/Twin Market Snapshot – 20 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$436,875 $387,000 $179,000 $998,000 142
Condo/Townhouse Market Snapshot – 10 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$142,930 $131,950 $85,000 $235,000 131

*DOM = Days On Market

Swarthmore homes went under contract

1 new listing came onto the market

No listings expired

No listings were withdrawn from the market

7 homes are Under Contract at this time

Swarthmore homes sold last week.

Swarthmore Homes Sold July 13, 2015 To July 19, 2015
ADDRESS BED BATH PRICE SETTLED DOM
18 Oberlin Avenue 4 1.1 $390,000 07/15/15 76
622 N Chester Road 4 3.1 $685,000 07/15/15 10
AVERAGE $537,000 43

Seller Assist:

– 18 Oberlin Avenue – $5,000

– 622 N Chester Road – $6,850

Swarthmore, PA 19081 Real Estate Update

Wallingford PA Real Estate – July 13, 2015 To July 19, 2015

Wallingford PA Real Estate - Wallingford - Wallingford Market Review

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 88 homes listed for sale in Wallingford PA and Nether Providence Township on July 21, 2015.

Nationwide, the number of all-cash sales making up transactions has plummeted since peaking in January 2011 when cash transactions made up 46.5% of total home sales nationally. Now, that percentage has dropped to 33.7% of total home sales, according to CoreLogic’s cash sales report.

The year-over-year share of cash sales has fallen each month since January 2013.

Despite the declines, cash sales still remain elevated by historical standards. Prior to the housing crisis, cash sales made up about 25% of home sales, according to CoreLogic. If cash sales continue to fall at the most recent pace, the share should hit 25% by mid-2017.

Following the nationwide trend of declining cash purchases, cash sales accounted for 21.8% of home sales in Wallingford during the first 6 months of 2015, down from 28.8% of sales for the calendar year 2014.

Wallingford Market Snapshot – 87 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$342,383 $310,000 $88,749 $869,900 110
Single/Twin Market Snapshot – 70 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$380,923 $349,995 $97,000 $869,900 107
Townhouse/Condo Market Snapshot – 17 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$183,691 $185,000 $89,749 $299,900 121

*DOM = Days On Market

Wallingford PA homes went under contract

4 new listings came onto the market

No listings expired

No listings were withdrawn from the market

23 homes are Under Contract at this time

12 Wallingford PA homes sold

Wallingford Homes Sold July 13, 2015 To July 19, 2015
ADDRESS BED BATH PRICE SETTLED DOM*
201 Cooper Drive 5 2.1 $327,000 07/14/15 28
603 Georgetown Road 4 2.1 $365,000 07/15/15 371
206 Dogwood Lane 5 3.1 $320,000 07/15/15 15
201 Copples Lane 4 2.1 $399,500 07/15/15 6
971 Putnam Blvd 3 2.1 $209,000 07/15/15 42
331 Callender Lane 4 2.0 $369,450 07/15/15 8
611 Vernon Street 3 1.0 $101,000 07/16/15 136
116 S Providence Road 7 4.1 $582,500 07/16/15 100
206 Woodward Road 5 2.1 $515,000 07/16/15 8
206 Ash Road 2 1.0 $200,000 07/16/15 4
918 Truepenny Road 5 3.1 $430,000 07/17/15 99
207 Fox Lane 5 2.1 $595,000 07/17/15 6
AVERAGE $367,788 70

*DOM = Days On Market

4 homes sold with a Seller Assist:

– 971 Putnam Blvd – $5,000

– 116 S Providence Road – $2,000

– 206 Woodward Road – $5,000

– 918 Truepenny Road – $5,000

Wallingford PA Real Estate – Wallingford, PA 19086

New Listing – 801 Yale Avenue -#705 – Swarthmore PA – 2 Bed 2 Bath Condo

Strath Haven Condominiums - Swarthmore PA

Strath Haven Condominiums – Swarthmore PA

801 Yale Avenue – Unit 705 – Swarthmore, PA 19081

This 7th floor 2 bedroom 2 bath unit features great views of the meadow and woods from the private balcony and living room and is filled with natural light. Updated kitchen with white cabinets, gas range and stove, dishwasher, garbage disposal, and wood laminate flooring which also continue into the dining room and living room with crown molding. The large master bedroom has two closets and an attached master bath with a stall shower. There is also a second bedroom, a hall bath with tub and shower, linen closet, a laundry room with a brand new washer and dryer and additional storage. A storage unit located on the 2nd floor is also included. Unit 705 is conveniently located just a short walk to the elevator lobby. The 3 HVAC units have been updated and have individual temperature controls. The association fee covers all utilities, building maintenance, pool and community center. Enjoy all the amenities that the Strath Haven condos offer – a large swimming pool and cabana, a hobby workroom, a well-stocked free lending library, a card room, and a meeting room. The shops and restaurants of the Village of Swarthmore and the campus of Swarthmore College are only a short walk away. Complimentary van service runs every weekday to the SEPTA station in town for both morning and evening commuter trains, and daily shopping trips to Swarthmore, Springfield and Media. Enjoy maintenance free living in a great location.

Updated Kitchen

Updated Kitchen

Great View Of The Woods And Meadow From The Balcony

Great View Of The Woods And Meadow From The Balcony

Living Room with Laminate Flooring Gets Plenty Of Natural Light

Living Room with Laminate Flooring Gets Plenty Of Natural Light

Balcony View Right - No Neighboring Balconies!

Balcony View Right – No Neighboring Balconies!

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – 2nd Quarter 2015 Review

Wallingford PA Real Estate - Wallingford PA - Quarterly Review

The 2nd quarter of 2015 in Wallingford PA saw a robust total of 83 homes sold beating last year’s quarterly numbers by 7 homes, an increase of 9.2%. The average sales price increased to $313,369 up from last year where it stood at $303,507, representing a 2.6% gain.

The 57 single family homes sold during the quarter equaled the volume from last year, but the average selling price increased by 5.9%from $353,133 to $373,852. Single homes posted a mere 58 days on the market during the quarter.

Overall average it took less time to sell during the months of April, May, and June, 11 days fewer then last year when Days On Market averaged 93 which represents a 11.8% decrease.

Halfway thorough 2015 the number of homes sold is 1 less than last year, with 114 homes selling through the end of June. The average selling price has seen an upswing from $283,295 for the first 6 months last year to $301,147 this year which amounts to a 6.3% increase.

There were 18 homes sold in April, 33 in May – which was the busiest May going back over 10 years, and 32 in June. The highest priced home sold in the 1st quarter was 401 Crumwald Lane Road that sold in May for $800,000.

WALLINGFORD – 2ND QUARTER 2014 VS 2ND QUARTER 2015
SALES AVERAGE DOM* % ORIG LIST % LAST LIST
2014 76 $305,507 93 94.59% 96.30%
2015 83 $313,369 82 94.90% 96.63%
9.2% 2.6% -11.8% 0.31% 0.33%

 2ND QUARTER 2015 – SALES BY PRICE RANGE

PRICE RANGE SALES
0 To $100,000 5
$100,000 To $200,000 16
$200,000 To $300,000 22
$300,000 To $400,000 18
$400,000 To $500,000 14
$500,000 To $600,000 3
$600,000 To $700,000 2
$700,000 To $800,000 2
$800,000 + 1
TOTAL 83
Single Family Homes Sold – 2nd Quarter 2015 – 57 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$373,852 $340,000 $155,000 $800,000 58
Condominiums Sold – 2nd Quarter 2015 – 12 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$103,783 $104,750 $80,000 $124,900 110
Townhouses Sold – 2nd Quarter 2015 – 11 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$266,818 $203,000 $171,000 $425,000 161
Twin Homes Sold – 2nd Quarter 2015 – 3 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$180,967 $209,900 $88,000 $245,000 147

*DOM = Days On Market

Wallingford PA Real Estate – Wallingford, PA 19086

Perils Of Overpricing

Wallingford PA Real Estate - Wallingford PA - White Houses On Black Background

Sellers often say they want to “test” the market with an initial asking price that is often more than the market will bear. The theory is they want to build in some cushion for negotiation with a buyer. There are a number of reasons why this strategy can backfire.

The Early Days On The Market Are Wasted

A home does not gain popularity with buyers over time. During the first 30 days on the market you garner the most attention from potential buyers. The listing is fresh and receives the most exposure and online views during this period than at any other time. You do not want to squander this time of maximum buyer interest with a listing that is overpriced. The attention spam of buyers is quite short and they are always looking for the newest listings so the goal should be to price the home so it will sell within the first 30 days.

The Listing Gets Stale

When a home sits on the market for an extended period of time buyers begin wondering if there is something wrong with the home and have a tendency to pass it by. As a house sits on the market and it becomes necessary to lower the price a seller will often end realizing less than they would have if they priced it realistically from the start. Buyers are keenly aware of the effect of time and days on the market in relation to a home’s selling price.

You Help Neighboring Homes Sell Quicker

Buyers are going to compare like homes in an area and if your listing is overpriced they will seek the value priced listing even if they like yours better.

Not All Buyers Want To Make A Deal

If your price is set intentionally high in order to leave room for negotiation you may leave yourself no one to negotiate with if the price exceeds a buyer’s budget. A good buyer appreciates a home that is priced appropriately for the market.

Potential Buyers Miss Seeing Your Home

Buyers search for homes online in defined parameters, say $300,000 to $325,000. If you price your home at $330,000 when it’s true value is $320,000 you run the risk of being excluded from buyer searches and your online exposure decreases.

Wallingford PA Real Estate – Wallingford, PA 19086

Swarthmore Real Estate – 2nd Quarter 2015 Review

Swarthmore Real Estate - Swarthmore PA - Quarterly Report

The 2nd quarter of 2015 in Swarthmore saw a total of 16 homes sold which falls 5 homes short of last year. The average sales price saw an increase to $361,431 from last year where it stood at $350,933 representing a 3.0% increase. A total of $5,782,900 of real estate changed hands during the quarter, down from $7,357,000 last year.

On average it took a significantly longer time to sell during April through June than it did last year – at 112 days it almost tripled the of Days On Market over last year.

April posted 5 sales, May 3 sales, and June recorded 8 sales. The highest priced home sold was 123 S Princeton Avenue that sold in June for $600,000.

At the mid point of 2015 sales are behind last year by 4 units with 28 homes sold during the first half of the year – the average selling price has seen a strong increase of 15.4% from $339,919 to $392,404.

SWARTHMORE – 2ND QUARTER 2014 VS 2ND QUARTER 2015
SALES AVERAGE DOM* % ORIG LIST % LAST LIST
2014 21 $350,933 29 96.88% 98.03%
2015 16 $361,431 112 86.21% 93.39%
-23.8% 3.0% 286.2% -10.67% -4.64%

 2ND QUARTER 2015 – SALES BY PRICE RANGE

PRICE RANGE SALES
$0 To $100,000 2
$100,000 To $200,000 3
$200,000 To $300,000 1
$300,000 To $400,000 1
$400,000 To $500,000 2
$500,000 To $600,000 6
$600,000 To $700,000 1
TOTAL 16
Single Family Homes Sold – 2nd Quarter 2015 – 11 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$481,673 $520,000 $201,700 $600,000 106
Condominiums Sold – 2nd Quarter 2015 – 5 Listings
AVERAGE MEDIAN LOW HIGH DOM*
$96,900 $103,500 $75,000 $115,000 126

*DOM = Days On Market

Swarthmore Real Estate – Swarthmore, PA 19081