About Devon's Old Forge Crossing

There are currently 7 homes available in Old Forge Crossing in Devon, PA. This wonderful condominium development is well priced and equally well located. There are six one bedroom homes available, although one of these does have a small den as well and one two bedroom home that has just come on the market. Four of these have wood buring fireplaces, including the two bedroom home. Several of the single bedroom homes have been on the market a long time, one almost a year, two have been on the market for more than 120 days, whilst these have all had price reductions location in the development or lack of updated bathroom and kitchen may be holding them back.

The two single bedroom homes that have recently come on the market are the most highly priced of the single bedroom homes, however one is an end unit with upgraded kitchen, cabinets and bathroom which makes a big difference and the other appears to have had some upgrading done in the bathroom. Old Forge Crossing saw only 18 homes sell last year well down on previous years sales and prices have also been down compared to prior year sales. As we have discussed before upgrading to heater, air conditioning units as well as kitchens and bathrooms really help these homes to sell. If you are interested in using a buyers agent who knows this development well please call us so we can set up appointments for you. With the low mortgage rates now is a good time to buy a home if you have some funds to put down as well. These upgraded homes will probably not last long as they are desirable.

Old Forge Crossing is one of my favourite developments in the Devon, PA area. Whilst it is now beginning to age and homes need to be updated many unbits that you show still have original bathrooms and kitchens. Painting kitchen cabinets is not updating. Some owners have updated and this year whislt showing homes I have been pleasantly surpirsed to find some lovely kitchens and bathrooms in several units. These have all sold quickly and for better prices than normal.

This having been said number of homes sold dropped to eighteen in 2008, which is down from the twenty-four last year which was significantly down on the fifty the previous year. Prices have also drifted lower over the last two years with single bedroom units selling in the mid to high 150,000's unless they have been updated or have the additional den these selling in the high 160,000's to low 170,000's. Two bedroom homes have also seen prices drop to the low 200,000's although these tend to be on the market for less time.

A quirk I don't like at Old Forge, water has to be turned off to a whole block, there are no individual shut off valves for a home that I know about, if having work done in a unit I would suggest installing individual shut off valves. Another issue whilst location is great where a home is in the development may cause you to suffer from excessive road noise.

But why do I like Old Forge Crossing over other developments in the area. Firstly each unit has plenty of storage, many customers who move from Old Forge are disappointed with storage in homes they purchase, each home in Old Forge has plenty of storage. Each home has it's own private outside entrance and a laundry in the unit, no having to trek over to a central location to do your washing. The condo fee includes so much, including your pool membership, tennis, gas for your dryer, cooking and hot water, trash, snow removal, common areas and exterior maintenance. Every time I come to Old Forge I find the development looks well cared for and something is being done to improve the development. also the fee is reasonable and although there is a capital fund contribution required at settlement this is now common at developments in the area. The grounds are delightful with a duck pond, walking trails and over 40 acres in the development. Location is great for acces to major routes and shopping, restaurants and Valley Forge Park.

Finally price, these homes frankly are great value. They appeal to many buyers with different needs bring a great mix of owners. With a little updating, new a/c and heating units, new kitchens, bathrooms and windows these units will be a great place to live for a long time to come.

Old Forge Crossing market statistics for 2007

Compared to 2006 when there were over 50 units sold at Old Forge Crossing in Devon, PA, 2007 was a quiet year with just 24 homes sold resulting in raising demand for homes at Old Forge Crossing. The average days on market was 52, this was skewed a little by three homes that were on the market for over 100 days, one of which was on the market for 179 days. Without these three homes included the average days on market were 39. Two bedroom units were on the market slightly shorter at 50 days or longer if you take the lower number. On average prices at which homes settled was 98% of asking price; what I noticed is that the higher the asking price the lower the settled price, those units which had the highest asking prices settled at 96% of asking price. As Realtors we often advise clients to price correctly and prepare their homes for sale. This was reflected looking through the sales as those homes that sold quickly were priced sharply or also had been well maintained and prepared for sale. Using a stager also helps sell a home quickly.

From the 24 homes sold 18 were one bedroom homes; 2 of these had dens, and there were 6 two bedroom homes, two of which had two full baths and a powder room, these incidentally were the two highest priced units in the development and both settled for $220,000. Two bedroom units ranged in price at settlement between $196,500 and $221,000, although this highest priced unit also gave a $6,000 seller assist, so in reality it sold for $195,000. In the one bedroom homes the lowest priced unit was $163,900 and the highest asking price was $179,000 which settled at $169,000 and the highest settled price was $174,900, but again this is misleading because the seller also gave a $5,000 assist so the real price was $169,900. The highest settled price without any assist or concession was $172,500, 99% of the asking price of $174,900.

So what does all this mean for 2008? Well, we did not see any rise in prices within the development for 2007; whilst the interest rates are low there are plenty of buyers looking for homes. We have seen the year start with a bang, especially in the last two weeks. Will prices rise? This price range is the lowest in the township and the area, Old Forge Crossing homes in my opinion give some of the best value, the closest competition is Drummers lane, but those units do not have private entrances and you have to use a shared laundry room, as well as having a lot of road noise from the 422 and 202 intersection. At the moment the media has led buyers to believe that homes are not selling and therefore whilst prices may increase slightly, buyers will resist this by making lower offers.

To get the best price, sellers need to make sure their home is well presented, bathrooms, kitchens both need upgrading, consider updating the A/C and heater units and freshly paint the walls in neutral colors. As I mentioned above get help staging your home and realize that when you sell your home, it is not the same as when you live in it.

If you want help selling or if you are looking for a home in Old Forge Crossing contact me at 610-203-4543 or email me at Nick@VandekarTeam.com. I will be happy to help you buy or sell. We have a special offer for sellers of homes in Old Forge Crossing, please go to our website and click on Old Forge Crossing from the menu on the left for details.