Here is the data driven scoop on the Real Estate Market in Nether Providence Township, SE Pennsylvania.
We are not, REPEAT NOT, in the midst of a real estate collapse because, average resale prices of single family houses have not come down and sales (as reported through our MLS) are about at the same levels as the last several years. For example, 138 houses were sold in 2007. That is down only slightly (about 11%) from the highest year on record in 2003.
| PRICE CHANGE HISTORY, NETHER PROVIDENCE TOWNSHIP, RESALES | |||
| Updated, 2/12/08 | |||
| Year | Number Sold | Average Price | % Chg |
| 2001 | 147 | $231,000 | |
| 2002 | 147 | $244,000 | 5.6% |
| 2003 | 154 | $286,000 | 17.2% |
| 2004 | 145 | $318,000 | 11.2% |
| 2005 | 135 | $335,000 | 5.3% |
| 2006 | 138 | $376,000 | 12.2% |
| 2007 | 138 | $371,000 | -1.3% |
What has changed is that there is a lot of inventory on the market. Check out the below table that shows numbers of houses listed by year along with the number that actually got deals made (Pending)
| Time Pd | Listed | Pending | % Pending |
| 2003 | 279 | 238 | 85% |
| 2004 | 273 | 211 | 77% |
| 2005 | 304 | 206 | 68% |
| 2006 | 361 | 205 | 57% |
| 2007 | 369 | 224 | 61% |
Back in 2003, good old sellers market, 85% of the houses that were listed got deals on them. In 2006, that dropped to 57%; last year it rebounded a little to 61%.
Tougher market for realtors, sure, but depression or crisis, no
35 year career in Business Management equipped me to use a solid business perspective in managing your Real Estate Transaction.
Specialize in Listing and Selling higher priced houses in Delaware, Chester and Montgomery counties.
BS and MS Degrees in Engineering; MBA in Marketing and Finance. Real Estate designations include E-Pro and Real Estate Cybersapce Specialist.
Committed to Quality Management and Process Improvement techniques to continually improve and upgrade my service.
Average Selling Price to List Price ratio =95%; average Days on Market = 43.
Past President, Wallingford-Swarthmore Alliance of Civic Associations; Adjunct Professor, Temple University Graduate School of Business.
Specialize in Listing and Selling higher priced houses in Delaware, Chester and Montgomery Counties.
Leading Edge use of Internet Marketing and Advertising to cast the widest possible net for buyers of your house. Maximum Exposure usually leads to highest price.
Leading Edge use of information gathering and analysis to obtain lowest possible price for buyers.

Graham and Michelle Hall, Sellers of 203 Ridgewood, Wallingford, PA; Buyers of 200 Hempstead, Wallingford, PA
We worked with John Herreid for several months looking for a new house. John set us up with an automatic e-mail each time a house that met our specifications came on the market. In September of 2007, he sent us a listing for a house in Wallingford that was originally listed for $645,000 and was recently reduced to $579,900. With John's direction and guidance, we negotiated $24,900 off the final asking price. While referring us to a number of helpful resources to find a mortgage and inspection services, he also negotiated a long settlement of 60 days because we had a house to sell.
John also listed our house and provided a market analysis that indicated it should sell somewhere between $350,000 and $360,000. Our house went on the market on October 4 for $374,900. After two weeks, we agreed to reduce the price to $359,900, which was John's first recommendation. Within 28 days of the reduction, we had an agreement of sale for 97% of the final asking price, with a settlement date only 2 weeks after the purchase of our new house. This was at a time when the average days-on-market was 128 days and 40% of the houses listed were not getting sold. John's quality marketing program and knowledge of the housing market made this possible.
In addition to the impressive technology that John used to buy and sell our houses, we were impressed with John's quantitative analysis to support the decisions that he recommended we make during this challenging time. We respected his professionalism, timely response and friendly demeanor each and every time we dealt with him. We would certainly recommend him to anyone who is thinking of selling or buying a house.
Don and Louise Allen, sellers of 35 Todmorden Drive, Rose Valley, PADear John,
We were happy with the service you provided when we put our house up for sale.
We believe you did everything you should have to aid in the sale and you were always pleasant, courteous and helpful.
Good luck to you
Don and Louise Allen
Craig and Kristine Harlow, 723 Concord Avenue, Drexel Hill, PA 19026, Prospective Buyers Who Left Area
John,
Craig and I would like to thank you for all of your help. We greatly appreciated all of your time and the effort you gave us. You made a very stressful time more enjoyable and your genuine concern for us really meant a lot.
Good luck in all you do, you truly deserve the best.
Sincerely,
Craig and Kristine Harlow
Paul and Judy Farber, Dockside Apartments, 717 S. Columbus Road, Philadelphia, PA 19147
Listing Clients Who Tried to Sell Their House Themselves
We tried to sell our house ourselves and were unsuccessful. We listed with John and in two days we had a full price offer. We settled two weeks before we had to. John was very good in representing us and mediating what came up between buyer and seller. We are very pleased.
Paul and Judy Farber
Phone 609-259-1723
We chose John Herreid to be our Realtor for two main reasons:
1. His marketing program was the best among the several agents with whom we spoke.
2. He recommended a much higher list price than the other agents.
As a result of his aggressive pricing and marketing, we sold our house for at least $25,000 more than what any other realtor would have asked. John was also very helpful with the settlement process and we recommend him highly.
Ed and Eleanor McLaughlin, sellers of 249 Waverly Road, Morton, PA
We chose John Herreid as our listing agent because we knew him personally and were confident he would do a good job.
After listing with John we had an agreement for several thousand dollars more than the asking price, in less than a week. John was also very helpful in guiding us to a smooth settlement. We recommend him highly!
Everett and Rae Ann Marsh, Sellers of 1544 Tanglewood Drive, West Chester, PA
We interviewed several realtors before selecting John Herreid as the person with whom we wanted to list our house.
John's entire approach was business like. His marketing approach was far superior to other agents we interviewed and it was successful. In less than three weeks after listing our house, we had an agreement for 98.8% of the asking price.
John was also very helpful in the closing process and we had a smooth settlement.
We recommend him to anyone who is thinking of selling a house.
I listed my house with John Herreid because of the results he got when a friend of mine listed and sold with him. Within two days of listing, John secured an agreement for $1,800 over the asking price. The buyer wanted a quick settlement, (10 days) which became even more complicated when I contacted pneumonia and had to enter the hospital. John handled everything and we had a smooth settlement, to include an agreement that let me stay in my house for two months until I was ready to move.
I recommend him to anyone who is thinking of selling a house.
We had our home on the market from June through October of 2003 and were unsuccessful in selling. Our initial asking price was $588,000. We subsequently reduced the price to $575,000.
John Herreid contacted us after our listing expired. We were impressed with his persistence and marketing program and decided to list with him in June of 2004.
He suggested that we take an aggressive approach to pricing so we listed at $599,900, which was higher than our previous attempt. Within 3 days we had a full price offer.John was also helpful during the closing process and we had a smooth settlement. We recommend him to anyone thinking of selling their house.
I listed my house at 505 Greenhill Drive in Boothwyn for sale with John Herreid on December 2, 2004. His marketing programs quickly began to generate buyer interest and we had several showings of the house. After 26 showings and 83 days on the market with John, we had an agreement of sale for 95.5% of the asking price.
This was after listing the house with two other realtors over a nine-month period that produced very little activity and no offers. I am very pleased with his service and highly recommend John to anyone who is thinking of selling a house.
John also made it a point to keep me up to speed on what he was doing and what was happening. I felt fully informed every step of the way.
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