Overall home sales activity continued to decline in 2011, but the rate began to recover toward the end of the year.
As of January 1 2012, available homes for sale declined slightly as compared to January 1 2011 while homes under contract rose - boding well for the housing market as we enter 2012. In addition, while yearly sales continued to decline to a rate 9% below 2011 and 19% below 2010, the gap in activity began to close as the sales rate began to rise toward the end of the year. (Check out the last Update in July here)
As of January 1 each year:
Year: Homes on the Market | Homes under Contract | Homes Sold
2012: :3133 464 4072
2011: :3210 414 4476
2010: :2750 495 5030
2012 Vs 2011
Change: -2.4% +12% -9%
2012 Vs 2010
Change: +14% -7.3% -19%
Positive News: With lower inventory and more homes under contract, we may be past the bottom of the market. There continues to be a large unsatisfied pent up demand with people who want to move and plenty of inventory available to satisfy the demand. In addition, the financing rates have never been lower for those who qualify.
Negative News: We still have a relatively anemic sales rate. The key will continue to be if anyone can "afford" to move. Both buyers and sellers continue to have problems selling their current properties, obtaining satisfactory appraisals on their sales and purchases, and, most critically, obtaining satisfactory financing to move.
Bottom Line: Today continues to be one of the best times to move seen in years. Prices are down across the board, inventory is up in most market segments, and financing rates are at record lows. Although existing homeowners may see lower prices on their sales, they continue to benefit from lower purchase prices. Investors can lock in the current low financing rates to earn higher income yields for years to come. When confidence returns to the marketplace, both prices and interest rates could rise quickly.
As always, feel free to contact me anytime with all your real estate needs and questions.
David Henke
Long & Foster Real Estate Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com
Open House this Sunday January 8 from 2:00-4:00
at 690 S Bryn Mawr Avenue Radnor Township PA.
This Sunday we will be holding an Open House at 690 S Bryn Mawr Avenue. 
This home is located on the north side of Bryn Mawr Avenue just east of Route 320 / Sproul Rd in Radnor Township. This location provides almost immediate access to much of the Main Line as well as most of Delaware County. The home is also minutes from Route 476 with quick connections to I-95, the Philadelphia Airport, greater Philadelphia, and south to Wilmington.
690 Bryn Mawr is listed by Marie Gordon and has been reduced to $399,900. The home is a 3 bedroom 2 bath one floor ranch style property with over 1600 square feet built in approximately 1955. With hardwood floors throughout, updated kitchen, and over one acre of property, this is an ideal location for those looking for convenient one floor living.This home includes a great light open floor plan, one car garage, and basement.
The home is easily accessed from much of the area. From West Chester Pike and I-476 travel west to Rt 320 / Sproul Rd; turn north until you reach the intersection of Bryn Mawr Avenue; turn east to 690 Bryn Mawr. From Lancaster Avenue head south on Sproul until you reach Bryn Mawr Avenue and turn east.
If you are looking for convenient one floor living with immediate access to the Main Line, Chester County, and Delaware County with access to the Radnor schools, you should be sure to include this home in your search.
David Henke
Long & Foster Real Estate Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com
(All statistics per the TrendMLS System and believed accurate but not guaranteed)
Happy New Year!
Thank you for a great 2011 and wishing you the best for 2012.
Be sure to relax and enjoy some time with your friends and family for the remainder of the holiday weekend.
Have a great New Year!!
David Henke
Long & Foster Real Estate, Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com
The Glenhardie Condos continue to be a prime residential choice for those looking in the King of Prussia / Wayne PA area.
The Glenhardie Condominium complex is a great larger residential condominium community located in Tredyffrin Township Chester County with a Wayne PA address. They are located just north of Swedesford Rd and west of Route 422. This location has immediate access to Route 202, Route 422, and I-76 providing great commuting options throughout the greater Chester County, Montgomery County, Delaware County, and Philadelphia areas. Being just minutes from the King of Prussia Mall, Valley Forge National Park, and much of the Main Line, they offer an endless array of entertainment and dining options.
The Glenhardie Condominiums were originally built between 1968 and 1970. Today, there are 20 buildings with 459 one bedroom and two bedroom units offering a nice range of housing options. Most of the one bedroom units are just over 800 square feet while the two bedroom units start at 100 square feet. 
There are some larger units and townhouses throughout the complex. The community has been developed in a nice open arrangement preserving the trees, open space, and privacy that are difficult to find today. With an optional membership in the adjacent Glenhardie Country Club, residents have instant access to a golf course, pool, and all the club amenities. The community is part of the Tredyffrin/Easttown School District.
As seen throughout the region, prices have fallen a bit in the last few years but have remained stronger than seen in most locations. 
Using the 2 bedroom units for comparisons, the pricing and activity peaked between 2005 and 2007 when the yearly units sold ranged from 14 - 18 units per year and the average price peaked at over $180,000. Since then we have seen both a reduction in prices and activity. In 2008 there were 12 sales averaging $175,000, in 2009 12 sales for $171,000, in 2010 5 sales for $167,000, and so far in 2011 4 sales for $152,000. There are also 4 homes currently on the market with an average asking price of $188,000 and 2 properties under contract averaging $199,000 - so it appears the 2011 pricing average will be rising.
With its superior location, easy commuting options, schools, and multiple entertainment options, the community should remain a stable and popular choice in the area for years to come.
David Henke
Long & Foster Real Estate Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com
(All statistics per the TrendMLS System and believed accurate but not guaranteed)
Open House this Sunday September 26 from 1:00-3:00
at 690 S Bryn Mawr Avenue Radnor Township PA.
This Sunday we will be holding an Open House at 690 S Bryn Mawr Avenue. This home is located on the north side of Bryn Mawr Avenue just east of Route 320 / Sproul Rd in Radnor Township. This location provides almost immediate access to much of the Main Line as well as most of Delaware County. The home is also minutes from Route 476 with quick connections to I-95, the Philadelphia Airport, greater Philadelphia, and south to Wilmington.
690 Bryn Mawr is listed by Marie Gordon for $415,000. The home is a 3 bedroom 2 bath one floor ranch style property with over 1600 square feet built in approximately 1955. With hardwood floors throughout, updated kitchen, and over one acre of property, this is an ideal location for those looking for convenient one floor living.This home includes a great light open floor plan, one car garage, and basement.
The home is easily accessed from much of the area. From West Chester Pike and I-476 travel west to Rt 320 / Sproul Rd; turn north until you reach the intersection of Bryn Mawr Avenue; turn east to 690 Bryn Mawr. From Lancaster Avenue head south on Sproul until you reach Bryn Mawr Avenue and turn east.
If you are looking for convenient one floor living with immediate access to the Main Line, Chester County, and Delaware County with access to the Radnor schools, you should be sure to include this home in your search.
David Henke
Long & Foster Real Estate Inc – Devon,PA/Bear, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com
(All statistics per the TrendMLS System and believed accurate but not guaranteed)
 |
|
|
For buying or selling Homes Just West of Philadelphia including Delaware County, The Main Line, Chester County, and New Castle County DE from offices in Newtown Square PA and Wilmington DE
Welcome to Delaware County and the Surrounding Areas Just West of Philadelphia
Situated just West of Philadelphia are an amazing range of properties that can satisfy the needs of most any lifestyle.
Eastern Delaware County in some ways feels like an extension of Philadelphia. Just across Cobbs Creek, you enter some of the first historic suburbs of Philadelphia in Darby and Lansdowne. As the region grew, development followed the rail lines both south along the Delaware River through Chester and into the state of Delaware and west along the Main Line traveling through Radnor to Harrisburg and points west. The older suburbs are filled with a wide variety of housing from small row homes up to classic detail filled single family estates.
As you travel further west in Delaware County, the area begins to open up with newer suburban developments interspersed among older towns such as Media, Newtown Square, and Wayne. You enter former farm, estate, and hunt country. 
Here you still have predominately single family homes on larger parcels combined with some newer development. West of Delaware County, you enter Chester County which provides a broad array of housing choices form the Boroughs of West Chester and Kennett Square to the large horse farms and pastures of Unionville and the countryside beyond.
Traveling southwest from Pennsylvania into northern Delaware, New Castle County is also a popular choice. Wilmington is easily accessible by rail and car from Philadelphia and is a major stop on the Northeast Corridor rail lines if you need to travel toward Washington or New York. Just north of Wilmington you have many mid century developments along and east of the Route 202 corridor. To the northwest along Route 52, you quickly pass through Greenville and Centreville in the former Chateau country with many larger homes and estates nestled along the Brandywine Creek as you continue into Chester County. Southwest are many newer developments and Newark.
Old:New, City:Country, Row:Single Family Homes, the area has a broad range of options sure to satisfy any need.
As a Delaware native who was raised, schooled, and has lived in Delaware, Chester, and New Castle Counties for years, I have extensive knowledge throughout the local community. Having lived in a dozen states and traveled to over fifty countries, I bring a bit wider perspective to bear on any home search. Originally licensed in California in 1994 and Florida in 1997, I have already experienced some of the best and worst that can be seen in the real estate market and can pull from that experience to provide you with the guidance needed in today's world. Licensed in Pennsylvania in 2004 and Delaware in 2005, I have been able to build on that experience through one of the best markets the area has ever seen.
Today, by combining the Market Strength and Depth of Resources of Long & Foster Real Estate with my extensive Local Knowledge and Internet Marketing Expertise, your property will receive the Maximum Exposure available in today's market. I will work harder to be sure your property is exposed to the widest possible array of potential buyers in as little time as possible to achieve the maximum value possible in your time frame.
As an independent buyer in today's market, I can assist you in a broad range of areas depending on your needs. From experienced hands to first time home buyers, I can guide you through the search, the buying process, and the areas to help you find the appropriate property at your convenience. With advanced communcation tools, I cover the gamut from traditional mail to twitter to make your search as convenient as possible.
Contact me anytime and let me know what you may be looking for. It's a great area to live and it may be the right time to move!
Member National Association of Realtors
Member of Pennsylvania Association of Realtors
Member of Suburban West Realtors Association
Member of New Castle Board of Realtors
Licensed in California since 1994
Licensed in Pennsylvania since 2004
Licensed in Delaware since 2005
Imagine the opportunities that are appearing everyday in this real estate market.
- Prices have declined making all real estate more affordable.
- Rates have declined increasing your relative purchasing power.
- Inventory has increased due to the uncertainties in the market.
- Move up prices have declined allowing more to be bought for less.
The economy as a whole is in one of the most precarious positions we have seen in years, but with uncertainty comes opportunity. No one can predict the future, but real estate over time has remained one of the best investments available and a tremendous wealth building tool.
Today offers the chance to obtain property at reasonable rates that will match your lifestyle for years. Owning your own property and being financially secure allows you a degree of independence and peace of mind that you can treasure for years.
Please feel free to contact me anytime if you have any questions or need any additional information. I look forward to hearing from you.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
