by rtdosen | Jun 1, 2014 | Ryan Dosen Real Estate Articles
Chester County’s Top 5 Most Expensive Home Sales of 2014 By Ryan Dosen In Chester County, as the temperatures rise, so too does the pace with which “For Sale” and “Sold” signs go up and come down. Most of those sales will happen in a fairly narrow price range. TReND MLS reports that the median price for homes sold in Chester County for April 2014 was $300,000. According to the Suburban West Realtors Association, around 50 percent of this year’s (nearly 1300) residential real estate transactions in Chester County took place in the $200,000-$400,000 range. But what about the 1 percent? What are they buying? TReND MLS reports that there have been 33 homes sold this year in Chester County in the seven-figure range. Just for fun, let’s take a look at top five most expensive homes sold in our county this year. Malvern, PA – $3,650,000 The most expensive home sold in Chester County so far this year was a newly-constructed 5,027 square foot masterpiece in Malvern, PA. This home sits on 8 acres and is designed to look like a significantly upgraded 1700s farmhouse. Despite having the appearance of an historic property, the home is brand new and features loads of special features and cutting-edge conveniences such as geothermal and radiant heat, a detached 3-car garage with lift, an outside kitchen, a saltwater pool, 3 fireplaces, 2 offices, a media room, a greenhouse, and just about all the modern luxury conveniences. Newtown Square, PA – $2,700,000 The Duckett Paper Mill was Chester County’s second most expensive residential closing so far for...
by rtdosen | May 31, 2014 | Uncategorized
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by rtdosen | May 16, 2014 | Ryan Dosen Real Estate Articles
Top 5 Short Sale Pitfalls By Ryan Dosen Everybody wants a deal. In the wake of the recent recession, we’ve seen a shift toward a Groupon way of life. The economic downturn has forced most of us to get more out of our dollars. We want everything for cents on the dollar. Stock shares in Dollar Tree and Dollar General has almost tripled in the last five years. But, those of us that have been through a dollar store also know a couple of things: (1) just because it’s in a dollar store, it doesn’t mean it’s a good deal, and (2) oftentimes, we could have gotten a better product for around the same price elsewhere. The Groupon culture has been alive and kicking for years in the real estate market. At the peak of the crash, savvy investors pooled billions of dollars and scooped up short sale (i.e. when a bank agrees to take a loss on the sale of a home, accepting less than the outstanding mortgage balance at closing) and foreclosure properties for cents on the dollar. Everyone wanted in on the action. Unfortunately, most of us were hit hard by the collapse and we didn’t have money to invest. Now that the economy is improving, many buyers are seeing this as their opportunity to catch the tail end of the Distressed Home Bonanza. I’m not here to tell you that the party’s over, but the days of parsing through a laundry list of homes that you can pick up for fifty cents on the dollar are long past us. While it is still possible to get a...
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