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Home Buying in Kennett Square : Real Estate Advice

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  • Local Info7
  • Home Buying7
  • Home Selling2
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Activity 6
Wed Feb 10, 2016
Amywoehr asked:
Does anybody know the details of where it does & doesn't smell, how bad & how often in Kennett Square and Landenberg? We've noticed the area west of Creek Road/82 &…
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Thu Nov 20, 2014
Jeanine Lamb answered:
There are buyers for both. If you mean which will sell faster or appreciate better, its just too hard to predict with any certainty. I agree, its up to you as the buyer to choose based on preference first. Lower priced homes seem to sell quicker because there is a larger pool of qualified buyers. ... more
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Thu Jul 10, 2014
Hello, I'm a mortgage lender and I have a client with a 700 score, 39% ratios, sufficient assets, who is under contract for a $400,000.00 Va loan. I have an approve eligible but the…
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Thu Nov 29, 2012
R. Eric Axelson answered:

My colleague John below gives excellent advice. I am not sure if the USDA program applies to new construction townhomes, however, but we can look into it.

I prefer to use a more realistic interest rate of 3.50% and I have estimated the taxes at $6,000 and homeowner's insurance at $75/mo. Adding in the HOA fee of $135/mo, I come up with a number of $2,347.10. This does NOT include any mortgage insurance however.

I am a local broker who understands all this very well. Can we setup a time to meet for coffee and/or tour these units?

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
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Wed Jul 25, 2012
Rory Burkhart answered:
This can be a very tricky issue. Of course you have the right to be represented by your own agent, however, the listing agent was the "procuring cause" for showing you the home that you are interested in. Therefore, the Buyer Agent that you do find to represent you in the transaction may not be offered any compensation to represent you. Often times, the Seller agent will agree to compensate the Buyer Agent for representing you but they are not legally obligated to do so.

The role of the Buyer Agent has become increasingly important in today's market. Guiding clients through the buying process in a timely manner and negotiating objectively for the buyer are crucial in a successful transaction today. Best of luck in your pursuit and if you need any further information or assistance, don't hesitate!
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Tue Apr 22, 2008
Howard Urbine answered:
Hello Ann,

Here are some quick stats I pulled off of the MLS. All were 3 bedroom, 2.5 bath. Average days on the market is 71, but that can be fudged by realtors pulling and relisting the home. There were 14 units that sold in the past 6 months.

Avgerage of all 14 that sold in the last 6 months in Kennett School District $338,321--- Highest $454,438--- Lowest $217,000. That is quite a range in price and it covers units from 1400 to 2700 square feet, new construction and existing.

There are currently 31 on the market that meet these same criteria so basic math shows at least a years supply.

In the period from 6-12 months ago, 27 units sold with a low of $200,000 and a high of $460,310. The average was $295,882. Average days on the market was 74.

From 12 to 18 months ago, 22 units sold with a low of $185,500, a high of $485,000 and an average of $287,185 and an average days on market of 76.

So sales volume is down, price is up on the low end, down on the high but average is up. Days on the market for sold properties appear to remain similar on the surface. I think prices will continue as we have seen, what is selling is the best value. There are so many to choose from, only the best sell fast. Cheapest for the condition or best for the price however you want to look at it.

I see this same trend all around this area and even on detached homes. The lower price range is doing fine, the higher has suffered more but not like we see on the news nationally. If you have any other questions, feel free to ask.
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