Category Archives: Home Buying Advice
Charming Swarthmore Borough Twin coming up in the $300,000 to $325,000 range!
I am very excited to be introducing this home to the public very soon! As the sellers make a few last-minute preparations, I get to have my fun teasing you here!
You know how this works – if you are the first to guess the address of this new listing I will buy you a one-year subscription to The Swarthmorean newspaper! You can post a reply on this page, or email your answer to firstname.lastname@example.org.
About a hundred years ago
This lovely home was built, although
You wouldn’t guess it by the master suite
Or the kitchen counter’s swank concrete!
A clue for those with a discerning eye,
Who might look up while passing by:
Have you seen this transom & portico arc
A block away from a wonderful park?
It was certainly an exciting spring in the Swarthmore market! Our “spring” season stretches from January through June. (Of course there will still be summer settlements of homes that went pending in the spring and those are not included here.)
Here is a rundown of how this spring played out:
The Swarthmore condo market:
There were 11 condo sales in Swarthmore Borough this spring. Of the 11 condo sales this spring, 3 sold at the listed price and 1 sold higher than the listed price. Our condos seem to be slowly but steadily making up the value losses they took in the recession years. As you can reference in my post about last year’s market here, condominiums took a bigger hit than the rest of our market in the downturn. Last year there was a run on condos and we ended up with a limited inventory. It’s great to see sellers marketing their condos again and buyers continuing to purchase them.
The Swarthmore single family home market:
There were 21 single family home sales in Swarthmore Borough this spring. Of the 21 single family home sales this spring, 5 sold at the listed price and 6 sold over the listed price. The theme of light inventory and robust buyer activity continued where last year left off. The multiple offer situations, particularly in the early part of the season were unprecedented. Two of the most noteworthy were my own listing at 510 Riveview Road which listed for $449,500 and sold for $477,500 with five offers and Heidi Foggo’s listing at 438 Riverview Road which listed for $934,900 and sold for $981,000 with multiple offers. Our own Becky Hansen brought the buyers! (Please see here for my blog post about the benefit of working with a local buyer agent who really knows the micro-market when entering a multiple offer scenario.)
I am proud to report that of the total 32 transactions, 16 sides were handled by D. Patrick Welsh agents! Our tiny boutique is comprised of just 10 local professionals. In context, the Suburban West Realtors Association that serves our area has 4,700 members.
Overall the market was robust and we’re seeing continued activity in spite of unusually hot and stormy weather.
If you are not working with an agent and would like to talk about buying or selling a home in town, please feel free to contact me!
Top 5 Reasons to Use a Swarthmore Realtor as a Buyer Agent
In recent months our Wallingford – Swarthmore real estate inventory has thinned and buyer traffic has increased dramatically. Most of the offers I have written/received on behalf of my clients in recent months have been the result of competing bids. I am glad to know the market well enough to advise clients in these situations! Here are the top five reasons for using a Swarthmore realtor in a competitive environment:
5) Preparation: Local agents are aware of the market norms for contingencies, timeframes, etc. My clients already have their mortgage pre-qualification in place before we begin home shopping. I can advise them on what constitutes a strong offer by local standards, and which terms can make their offer stand out, without costing them money. Preparation sometimes also consists of knowing about upcoming inventory before it hits the market. Again, a local agent will be informed and that means you will be among the first to see new inventory – a distinct advantage in this kind of market.
4) Agent recognition: In most real estate markets, a handful of agents are doing the lion’s share of the business, and our area is no different. The seller of your dream house will be advised by their listing agent on the merits of each offer that is received. When you enlist the help of an ethical, high performing buyer agent, you ensure that your offer will be viewed with respect from the other side. Your buyer agent may also know the listing agent’s preferences, which can allow us to handcraft terms that will help you get your house.
3) Knowledge of the sellers: Although it is certainly possible in our tiny market that your buyer agent will literally know your sellers, I mean this in a broader sense! As the owner of an older Swarthmore house myself, I know which things would concern me when selling my own house. I can use this knowledge to help you craft an offer that will appeal to your Swarthmore seller.
2) Inventory analysis: Although any agent can search the MLS for similar properties that sold over the last year, a Swarthmore agent will have seen each of those homes and will be able to let you know if their location and condition were actually similar to the house you are considering. The negative aspects of a home generally aren’t apparent from the marketing materials listed on the MLS! Knowing if anything truly similar was sold in the last year will help you determine whether there is likely to be another similar home on the market in the coming year. This information can help you decide how far you are willing to go to get a particular home under agreement.
1) Market Valuation: A dedicated local agent will know enough about recent sale prices and terms to help you understand the fair value of the home you are considering. In multiple offer situations knowing the highest fair price is extremely important. An agent who specializes will be able to help you determine a value ceiling.
We’re getting closer! The sellers have their very special home nearly ready for you to visit! While they add the finishing touches, I will keep teasing you with the details! The first to guess the address of this charming farmhouse on a magnificent double lot gets a one-year subscription to The Swarthmorean newspaper on me!