Edward Carboy

I believe, from purely a resale perspective, that a single-family home would be a better investment. In the future, you could potentially sell to a wide variety of buyers. Condo fees are sometimes an issue with buyers, especially when the could buy a single family home. I agree with the previous answer about the restrictions with a condo. You need to look at the rules and regulations of the assoc. Some assoc. have deed restrictions on renting out a condo, which could possibly come into play in the future. Ed
Carboy - Thu May 29 2008, 10:28

Let's look at history. What has always been a good investment. Real Estate. Who knows when things will change? No one, has the answer-speculators think they know all the answers. Ultimately, the real estate curve will move back up, There are good deals in Phoenixville, which has been revitalized quite a bit. As for Collegeville, prices have dropped some, but it is a growing community with Wyeth Labs and GSK anchoring alot of the development. I agree with one of your previous answers concerning the amount of homes in the 500+ range, but all things considered the curve always moves. Ed Carboy - Thu May 22 2008, 13:37

A few stats, homes that listed for 309,000 sold for 300,000; 335,000 sold for 323,000. Where as home listed for 529,000 sold for 488,000; listed for 469,000 sold for 455,000. The statistics were compiled by TrendMls and account for all our listings that were in the MLS. So, when upgrading to a larger home, you will be making out in the long run, especially with the interests rates. I tell all my prospects," if you are upgrading you will make out." I show them the statistics that I just showed you, so they can see for themselves. I hope this helps. Any Questions? Give me a call. 610-864-1487 - Thu May 22 2008, 10:42

In Gladwyne, like most of montgomery County, real estate prices have dropped. Percentages depend on the price range. For example, homes that listed for $1,025,000 eventually sold for $918,000, not that we all can afford that. While homes originally listed for $525,000 eventually sold for $500,000. The lower the price range the less the loss of equity, and this seems to be typical around Montgomery County. FYI I pulled the, above statistics from our MLS spanning from Dec.07 to May 08. Like the previous answer, I tell everyone that I talk to about Real Estate: if you are upgrading and you recently lost some equity so did the seller of the house you are going to buy. So, with the interest rates, moving is worth the initial loss. Good Luck! If you have any other questions? 610-864-1487 - Thu May 22 2008, 10:18

A Pool is a personal preference. It's not like an updated kitchen or bathroom. I'm sure you will spend more than $20,000 putting in a pool. I think you need to look at all the positives and negatives in all the homes in the neighborhood. For example, is the home with the pool, on a nice lot with good landscaping? Is there another home in the area that has an incredible kitchen or finished basment, as well as a nice lot. Write down all your wants, or things that you absolutely need, and your wants, or all the things that you would like to have in home. Maybe this will make your decision a little easier, Sure, its reasonable for someone to ask for $20,000 more, but that doesn't mean you have to pay. The seller has a motivation, and what is it-relocation, downsizing etc. Your decision to buy and his to sell, depends on how motivated the seller is, and of course how bad do you want the pool- Good Luck!! Ed Carboy - Thu May 22 2008, 09:52